Why your 2022 Marketing Strategy Should Include Growth Marketing [Tips from a Chattanooga HubSpot Agency]
December 28, 2021
An established business owner understands the vital role growth marketing plays in the success of their business. If you don’t focus enough on marketing, then you are failing to make your business accessible. As a Chattanooga HubSpot Agency, we’ve applied this strategy and seen the results.
While marketing may be one of the most important aspects of your business, it is not something that you can maximize by just throwing money at it. A well-funded marketing department can still fail if they have unclear goals and poor execution.
That is why maintaining a clear marketing strategy is so important. One strategy that your marketing team can employ, is establishing a “growth mindset”. A growth mindset, in short, is a technique that relies heavily on data and makes use of every marketing channel for effective growth.
To provide more insight into its implementation, we’ll cover some specifics in this post.
What is Growth Marketing?
Growth marketing is an integrated approach that utilizes all sections of your business, including sales, customer success, support, and marketing. The purpose of this integration is to obtain data and make use of as many marketing channels as possible.
A successful growth marketer will highlight new opportunities to engage with your intended audience. A growth marketing mindset will empower your marketing team with the information needed to develop new initiatives to approach and engage their audience.
How Can You Apply Growth Marketing?
With an overview of growth marketing established, how can you apply it in your business setting? HubSpot highlights 3 main aspects of effective Growth Marketing.
- Identify and prioritize only the most relevant data for your plans
It is important to gather data from as many sources as possible, but you can become overwhelmed with the numbers, and much of it may not be relevant to business success. Your goal with a Growth Marketing mindset should be to focus on the metrics that can directly contribute to business success.
One good practice to identify the relevant metrics for your business success is to consider your goals first, and think backward. For instance, if you want to increase the outreach of your social media marketing, you can look at metrics for followers, likes, and other engagement statistics.
- Understand your strengths and weaknesses
Once you have identified the key metrics for your growth plan, try to understand what areas you are currently lacking in, and what you will need to improve on to fulfill your goals. It’s even possible that you conclude that you need to abandon some of your existing practices if you realize they are incompatible with your growth plan.
Alternatively, also understand what your business does best. Data can help you uncover where your business plan has been performing the best, and you may learn that your strengths differ from what you have been focusing on until now. This can help you refocus your marketing efforts into initiatives that actually perform.
- Gain insight from the rest of your organization
A significant component of growth marketing is the ability to leverage the insight and experience from all areas of your business. HubSpot mentions Sales, Development, Product, and Support teams as key divisions that you should look to learn from for your growth marketing strategy.
With these added teams on your side, you can gain knowledge on direct customer feedback, understand which of your approaches work and why, and what features have drawn customers towards your business. Customers have more access to businesses than ever nowadays, so direct customer insight is readily accessible and incredibly useful.
How Will It Improve Your Business?
You may already have a marketing approach that is working well, with business milestones clearly mapped out and on schedule., so why should you consider implementing this growth marketing mindset? What is the overall purpose of this technique?
The benefit of growth marketing is that it emphasizes the strengths and successes of your business, so that you may identify and remove the things that don’t work. When you can pinpoint the aspects of your plan that performs best, you can focus your efforts in these areas even more and see even better returns.
With the ability to improve marketing focus and performance, you can eliminate lots of wasted time and wasted budget. This means that your business will see growth faster and reach those desired milestones much more quickly.
Want to learn more about growth marketing with a Chattanooga HubSpot Agency? Click the button below to schedule a free call!