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Growth Marketing Fundamentals: What is growth in marketing?


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growth systems

Growth marketing is propelled by experimentation.

Experimentation is at the heart of growth marketing. This includes experimenting with campaigns, new product features, and any other means available to increase conversion, create a customer experience, and generate data to measure effort, learn and improve funnel optimization, and grow the business.

In growth marketing, you must admit that you don't know what your customers want; instead, you develop a hypothesis of what you believe your customers want and find the quickest and most efficient way to validate or invalidate your hypothesis. The goal is for the hypothesis to work, but even if it does not, you will have learned about your customer and generated data that you can use to grow your business.

Hacking for growth

The lean startup methodology is the founding principle that gave birth to the world of growth hacking; it is how you build a minimum viable product as quickly as possible in order to learn if your customers want what you're building. In this case, it's akin to creating a minimum viable campaign to test and learn what works best in your marketing strategy.

A growth hacker's mindset is not to spend time perfecting or building an elegant solution, but to test things to see what works. Growth hacking is the process of experimenting and trying processes that will 5x your growth, with the understanding that it is a series of hacks, constant experimentation, and learning that will get you results. This will assist you in accelerating your learning and getting to the result faster.

What characteristics distinguish a successful growth marketer?

There are three elements that contribute to your success as a growth marketer. They are as follows:

1. Expertise on the channel

Expertise on the channel It is critical to comprehend how growth channels function. Whether it's email marketing, Facebook ads, SEO, or something else.

2. Analytical ability

Analytical ability This is the ability to extract data in order to gain insights, analyze experiments, and effectively use data as if it were the lifeblood of growth. This necessitates Excel or SQL knowledge.

3. Strategic thinking

Strategic thinking is required for leadership it is similar to being a product manager. It is the ability to generate good ideas, determine how to select the right experiments, prioritize the growth roadmap, understand the customer experience and journey, and collaborate with other stakeholders (such as engineers and creatives) because growth is cross-functional.

How do you get started as a growth marketer?

Most people who work in growth marketing begin with channel-specific skills such as brand marketing and community management before moving on to the analytical side of growth marketing. The key is to leverage your existing skills before learning and developing new ones. If you've worked as an email marketer or product manager and have strategic or channel expertise, learning Excel or SQL will help you improve your analytical skills.

You must first understand the fundamentals of how growth marketing works. To learn quickly, you must be hungry and self-motivated in addition to having the necessary skills. With an understanding of the growth marketing foundation, you can learn from other growth marketers – learn about their growth model and process, find one that is similar to your business, and apply it.

A red flag that turns off recruiters when hiring growth marketers is a focus on past results rather than demonstrating a desire to improve, curiosity, and a willingness to learn. While learning the skill of a growth marketer, find a way to experiment for yourself, such as owning a blog or spending a small amount of money to test run ads or building an email list from scratch. These hands-on experiences will help you stand out during the interview process. Another way to stand out is to demonstrate that you understand the business and have a proposal for how to improve something.

How can you advance in your career?

To advance in your growth marketer career, think about what you like and what you are good at, just as you would in any other career path.

Determine which of the three skill sets mentioned earlier – channel level expertise, analytical capability, and strategic thinking – you excel at and enjoy the most. Continue to hone your skills, then decide what path you want to take. Look for someone who has or is in a position to learn from. Try to predict what solution the business will require in the near future and be ready to take advantage of the opportunity to solve a problem and advance your career.