Growth Marketing Process
Building a growth process is the most critical phase in running a successful company. The marketing foundation course at CXL has demonstrated how to develop a growth strategy and provided an in-depth look at user-centric marketing. Paul Boag talked about the value of user-centric marketing, and John McBride talked about how to develop a growth marketing strategy step by step.
Defining a Growth Model and the Process of Growth
In order to build a growth process, there are three main stages. The first section outlines your company’s highest-level objectives. The AARRR structure, which stands for acquisition, activation, retention, and reinvestment, is the most popular framework for a growth model.
The first step is to identify these metrics and establish targets based on them.
The second step is to comprehend the consumer experience and gain an understanding of how your target group can discover your company and progress through the funnel. Simply explore the customer pain points and ways to make an easy and customer-friendly process with your team, and try to understand your user experience by seeing your website from the viewpoint of your users.
The third step is to create a quarterly and in-quarterly development plan. After you’ve laid the foundation for your growth.
The most important thing to do is look at your business data and find the most important stuff, such as if there is a cart abandonment problem or some other issue that consumers are experiencing when making a purchase on the website. You may use the OKR approach to set quarterly targets (Objective Key Results). You can set achievable targets and objectives for your business, such as increasing your sales by 100% in a quarter or doubling your new user count. Making achievable baseline targets is critical because unattainable goals will demotivate the team and lead to failure.
Setting metrics based on the customer experience during the customer life cycle is what a growth model is all about. Acquisition, activation and sales are all common growth metrics, but there are also sub-metrics that are dependent on particular stages of the consumer journey. Your growth model can vary depending on the nature of your market, but there are a few channels that all businesses use to attract customers. We must concentrate on these networks, identify the metrics (acquisition or activation), and devise strategies to boost these metrics for customers.
People had few choices in the past, and marketing channels were limited. But in this digital age the scenario is very different. Almost anything is available online, and people have a wide range of choices. There is a lot of competition in the online world, and there is no such thing as a low entry barrier. Every company has an equal chance to reach out to their clients and compete with the big boys. People can now conveniently search for everything they want from the comfort of their own homes thanks to digital technology. Traditional markets are commonly used to broadcast the brand message to potential customers. Traditional marketing was prohibitively costly, and campaign research was not an option. Digital marketing broadened the spectrum of marketing and provided new avenues for reaching out to potential customers. The digital world has also made it easier for businesses to track down negative feedback about their products or dissatisfied customers. Digital marketing is distinguished from other forms of marketing by two distinct characteristics. We can change messages and strategies after they go live with digital marketing, and it also offers a lot of data on relevant audiences.
Marketing with a User-Centered Approach
Persuading the customer without first getting to know them will yield no results. User-centric marketing is primarily concerned with gaining a greater understanding of the target audience. It is concerned with consumer behavior and ways to establish emotional connections with them. Empathy mapping is a way to know your customer and learn about them at an emotional level. We need to understand the pain points of our customers and the question they have throughout the series of steps they take to buy anything. These questions will provide us a better understanding of what our customers want, what influences them, what are their interests, and what are their objectives and feelings.
Understanding your audience
It’s easy to get started with user testing. The first step is to collect information based on previous research conducted by the company. The sales staff will then provide information on customers who have purchased the company’s product. Customer service will also assist you in gathering pertinent information about your clients. The questions and pain points that your consumers are asking on these platforms can also be provided by your social media and data analytics teams.
Analytics can provide you with questions based on the information that your users typed into the search engine to find you. The SEO tool can also assist you in determining what questions your target audience is typing into search engines.
Analytics will also provide information about how your consumers communicate with your social media posts. The way they respond, as well as likes and shares, are important indicators of your audience’s interest.
Social media will help you figure out what your customers like and hate. What they like and who they follow, what influences them the most, and how they have responded to various messages are all factors to consider? You can get data from both of these sources for almost nothing. While there are some holes in the data from these sources, it is still a good place to start when it comes to knowing the customers.
Surveys are also a valuable way to learn more about the target market. Customers’ concerns and issues with using your product or service should be the subject of your surveys. You should inquire about their experience with your website and how they feel after making a purchase. It’s important to keep the surveys short and accurate. We don’t need to collect a lot of data just to become perplexed by it. Making a survey that is quick and concise is the best way to go. Asking relevant questions in a survey will provide you with relevant data and enable you to concentrate on improving a particular aspect of your company.