Growth marketing is a data-driven approach that focuses on identifying and leveraging opportunities for business growth. While traditional marketing tends to limit its focus to customer acquisition, growth marketing takes a more expansive, holistic view. It considers the entire client lifecycle, from acquisition to retention to advocacy, and uses a variety of tactics to optimise each stage of this lifecycle. The ultimate goal is to create a self-sustaining growth engine to drive a business forward.
Understanding Growth Marketing
Growth marketing is a relatively new concept. The methodology originated in the tech industry, where startups face intense pressure to grow quickly to prevent falling behind competitors or running out of cash. However, the holistic approach of growth marketing is also well suited to boutique professional services firms aiming to deliver exceptional client experiences.
At its heart, growth marketing is about experimentation, iteration, and optimisation. Growth marketers use data to identify opportunities for growth, test different strategies and tactics, and continuously refine their approach based on the results. This iterative Test → Measure → Learn process allows them to quickly adapt to changing market conditions and customer needs, and to drive growth in a sustainable way.
