As a result, growth marketing is anything but old school. It differs from traditional marketing in that it uses modern tools and metrics to measure the performance of specific strategies and tactics as completely as possible. Different than old-school marketing, growth marketing is inherently tailor-fit to your company, and constantly evolves to fit changing customer attitudes, respond to industry events, and handle your competition. It\u2019s completely dynamic.<\/p>\n
In the past, marketers used generally accepted principles to guide their efforts, and worked creatively within those parameters. Growth marketing, however, depends on thinking outside the box. It\u2019s highly experimental. It\u2019s where marketing meets scientific theory.<\/p>\n
A Quick Overview of Growth Marketing<\/h3>\n\n- It pays attention to the flow of customers in and out of your funnel\n
\n- Hyper-focused on growth<\/li>\n
- Works on the entire funnel, not just the marketing or sales sections<\/li>\n
- \u201cBecause growth without retention isn\u2019t growth.\u201d<\/b><\/li>\n<\/ul>\n<\/li>\n
- \u201cIf a typical SaaS business loses about 2-3% <\/b>of their customers each month<\/b> to churn, the business must grow by at least 27-43% annually<\/b> to maintain the same revenue.\u201d<\/li>\n
- Growth marketing, also known as growth hacking, relies on:\n
\n- Being nimble<\/li>\n
- Thinking outside the box<\/li>\n
- Measuring everything possible<\/li>\n
- Analyzing and quickly acting on data<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
![\"\"](\"https:\/\/www.salesforce.com\/ca\/blog\/wp-content\/uploads\/sites\/12\/2023\/10\/growth-marketing-001.jpg?strip=all&quality=95\")
<\/img> <\/p>\n
Growth marketers don\u2019t build a marketing strategy to implement, because their strategy is to adapt to whatever seems to be working best. In order to know what\u2019s working, they have to just get out there and get started. You could say it\u2019s like throwing spaghetti at the wall to see if it sticks\u2014if you then measured exactly how much each and every noodle stuck. Then, one at a time, you\u2019d slightly alter cook time, the type of noodle, temperature, angle of the throw, and more to see how each affected noodle stickiness. But you still wouldn\u2019t be done, because then you\u2019d test the best settings of each element together and fine-tune further to eke out just a bit more stickiness. By the time you finished that, someone will have remodeled the kitchen with fresh wallpaper. So you\u2019d start all over.<\/p>\n
If it sounds like a never-ending process, it is. But that\u2019s the point. Your business environment is constantly changing, and so are your offerings as a company. And they\u2019re changing faster than ever before. If you decide on a marketing strategy that isn\u2019t dynamic, in the way that the Don Drapers of the world did, you\u2019ll be out of touch before your campaigns ever go live.<\/p>\n
Elements of Growth Hacking<\/h4>\n
So what do you need to hack growth? More than ever before, marketing depends on technical savvy and the ability to gather, interpret, and act on data. So here\u2019s what you\u2019ll need:<\/p>\n
\n- The ability to test everything<\/i>. That means views, clicks, and visits, as well as time spent on web pages and how much is made over the customer lifecycle. Some things are hard to measure, like exactly how many points of contact a customer needed before making a purchase, but a growth marketer will measure everything he or she can.<\/li>\n
- Robust data tracking solutions to accompany that testing.<\/li>\n
- A team full of both creatives and analysts. They\u2019ll need to work closely together to brainstorm, roll out, measure, and refine each and every strategy.<\/li>\n
- The ability to think outside the box. Just because many companies succeed using tried and true formulas doesn\u2019t mean there isn\u2019t a better way to eke out a few more leads or improve your ROI by a few more cents.<\/li>\n
- A willingness to commit to the long haul. Sure, \u201cgrowth hacking\u201d and \u201cgrowth marketing\u201d might sound like magical incantations that instantly improve your marketing. But as any programmer (the original hacker) will tell you, hacking is a long process where each small success builds on the next to get big results.<\/li>\n<\/ul>\n
If you can roll with all that, growth marketing could be the greatest thing for small businesses since the internet.<\/p>\n
Growth Marketing for Small Business<\/h3>\n
How can you get started implementing growth marketing in your small business? With so many variables to test and measure, and so many metrics that contribute to overall success, you could get lost in the possibilities. Here\u2019s how to get started without losing your mind.<\/p>\n
Step 1: Prioritize Ideas and Opportunities<\/h4>\n
Whether you hire an experienced growth hacker or take on the task of learning the trade yourself, you\u2019ll come across tons of ideas for how you can improve your efforts. But that doesn\u2019t mean you should act on all of them right away. That would be chaos to implement, and you wouldn\u2019t know which strategy changed your metrics in which way. Instead, focus on tactics that:<\/p>\n
\n- Have the greatest potential impact on your company.<\/b> This means those that will have the greatest growth in revenue and your company\u2019s KPIs<\/a>, or Key Performance Indicators.<\/li>\n
- Are the easiest to deploy and test.<\/b> You want the greatest results, but not if you have to spend all your resources to achieve them\u2014at least, not at first. Go for the low-hanging fruit in the beginning, then use your growth to fund exploration of more challenging opportunities.<\/li>\n
- Are most likely to succeed. <\/b>For example, if your team includes a skilled graphics designer, an experienced PR manager, or a phenomenal webmaster, go after opportunities than lean on these people for success.<\/li>\n
- Take less time to test.<\/b> At this stage in your efforts, you need feedback about what\u2019s working\u2014and what isn\u2019t\u2014fast. You need to understand the big picture as soon as possible so you can structure your next efforts accordingly.<\/li>\n<\/ol>\n
Kev Kaye of Growthboks<\/a> recommends dumping each of your ideas into a spreadsheet, then rating them for each of the above criteria. Add each rating into one overall score, and use that score to prioritize your efforts. Then knock them out one at a time.<\/p>\n Growth Hacking, Growth Marketing, and Traditional Marketing: Same Goals, Different Methods<\/h3>\n\n- Growth Hacking\n
\n- Scrappy<\/li>\n
- break things<\/li>\n
- Revenue focused<\/li>\n
- Startup focused<\/li>\n
- Agile processes<\/li>\n
- small teams<\/li>\n<\/ul>\n<\/li>\n
- Growth Marketing<\/li>\n
- Tradittional Marketing\n
\n- Perfection over speed<\/li>\n
- Big Budget cost center<\/li>\n
- Awareness focused<\/li>\n
- Unwieldy processes<\/li>\n
- Big teams<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
![\"\"](\"https:\/\/www.salesforce.com\/ca\/blog\/wp-content\/uploads\/sites\/12\/2023\/10\/growth-marketing-002.jpg?strip=all&quality=95\")
<\/img> <\/p>\n
Step 2: Scale It Up<\/h4>\n
Once you\u2019ve tried out a few strategies, it\u2019s time to start using them throughout your brand. One of the most important elements of successful growth marketing is the ability to scale up your efforts. If you\u2019re a numbers geek or have a scientific mind, you may enjoy A\/B testing blog titles. Sure, having a passion for figuring out what makes consumers tick is going to help make you a good growth hacker, but the science isn\u2019t really the point. At least, an understanding of the science won\u2019t in itself affect your bottom line. You have to use your knowledge and you have to use it in big ways. You\u2019ve invested in learning what your consumers respond to, so make the most of it by scaling that knowledge up.<\/p>\n
The best part about growth marketing is that you often learn about more than just marketing. You can learn how to improve the entire customer journey with tactics you can employ in sales, service, product development, and even packaging and delivery options. Hire additional support as needed, knowing you\u2019re growing your business based on concrete, data-backed strategies and decisions.<\/p>\n
Step 3: Simplify<\/h4>\n
As you learn more about growth marketing and what makes your customers tick, work on streamlining your efforts. Learn which metrics make the most difference for your bottom line, and hone in on them. Streamline your testing process by writing down procedures and invest in better tools that make rolling out changes instant and easy.<\/p>\n
\n Metrics to Consider in Growth Marketing<\/h3>\n <\/h3>\n
- Vanity metrics versus actionable metrics<\/li>\n
- Email Marketing\n
\n- Open rate<\/li>\n
- Leads generated<\/li>\n<\/ul>\n<\/li>\n
- Social Media\n
\n- Fans<\/li>\n
- Referral rate<\/li>\n<\/ul>\n<\/li>\n
- Paid search\n
\n- Ad position<\/li>\n
- Cost per acquisition<\/li>\n<\/ul>\n<\/li>\n
- Display advertising\n
\n- Impressions<\/li>\n
- Cost per lead<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
\n- Other metrics to consider include\n
\n- % net adds<\/li>\n
- conversion rate<\/li>\n
- % daily active users<\/li>\n
- engagement rate<\/li>\n
- referral rate<\/li>\n
- LTV to CAC rate<\/li>\n<\/ul>\n<\/li>\n
- A Sample of Ways to Track Events<\/li>\n<\/ul>\n
\n- Track\n
\n- Acquisitions\n
\n- Marketing channels<\/li>\n<\/ul>\n<\/li>\n
- How\n
\n- UTM tagging<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Track\n
\n- Activation\n
\n- Sign-up conversion rate<\/li>\n<\/ul>\n<\/li>\n
- How\n
\n- Event tracking<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Track\n
\n- Retention\n
\n- Returning visitor rate<\/li>\n<\/ul>\n<\/li>\n
- How\n
\n- Cohort reports<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Track\n
\n- Referral\n
\n- Users refferal rate<\/li>\n<\/ul>\n<\/li>\n
- How\n
\n- Event tracking<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Track\n
\n- Revenue\n
\n- Revenue per customer<\/li>\n<\/ul>\n<\/li>\n
- How\n
\n- Event tracking<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Event tracking<\/li>\n
- Choose the metric that matters most to the growth of your company<\/li>\n
- Treat it as your true north<\/li>\n
- It will create focus for the entire company<\/li>\n<\/ul>\n
![\"\"](\"https:\/\/www.salesforce.com\/ca\/blog\/wp-content\/uploads\/sites\/12\/2023\/10\/growth-marketing-003.jpg?strip=all&quality=95\")
<\/img> <\/p>\n
Is Growth Marketing Right for Your Small Business?<\/h3>\n
Growth marketing is<\/i> the future of marketing. But is it the right move for your business right now<\/i>? While growth hacking is all about the long-term (a marathon, if you will) it happens in sprints. You\u2019ll do a whole lot of testing, then spend time implementing what you\u2019ve learned across your organization. And because what you learn today could change next month, in order to take advantage of your investment, you\u2019ll need to be ready to act on your findings right away.<\/p>\n
Sometimes, you\u2019ll get growth hacking results that your company simply can\u2019t adapt to quickly enough. If, for example, as part of your A\/B testing you end up with a huge influx of leads, but don\u2019t have the sales team to nurture them into customers, you may miss out. And if you end up doubling or tripling your product orders, are you poised to fill them?<\/p>\n
Prepare for Growth<\/h4>\n
Investing in growth marketing may require hiring new staff, guiding company culture in a new direction, and new equipment, software, or other tools. Before you do any of those things, make sure you\u2019re ready to capitalize on your investment with these key steps.<\/p>\n
\n- Line up additional suppliers, manufacturers, and other vendors to handle any overflow work.<\/li>\n
- Streamline your sales and other department hiring processes so you can find great candidates faster.<\/li>\n
- Ensure your board of directors and other executives are \u201call in\u201d and ready to approve actions based on new discoveries.<\/li>\n
- Choose tools<\/a> and technology that grow with you so you can avoid retraining, setup, and other unnecessary costs.<\/li>\n<\/ul>\n
Make sure your tools allow you to focus on your relationships with your customers. Use a cloud-based system for service, community management, and marketing. The right platform will help you set up A\/B testing for everything from social media posts to email drip campaigns. You can gather data from dozens of metrics, and also compile, display, and interpret it. Make it easier to share and implement your findings across your organization, no matter how big or small.<\/p>\n
Growth marketing is only as powerful as the technology behind it. With the right tools and people, you can find success in this very reactive, exciting marketing niche.<\/p>\n
<\/h3>\n\n
- \n
- Hyper-focused on growth<\/li>\n
- Works on the entire funnel, not just the marketing or sales sections<\/li>\n
- \u201cBecause growth without retention isn\u2019t growth.\u201d<\/b><\/li>\n<\/ul>\n<\/li>\n
- \u201cIf a typical SaaS business loses about 2-3% <\/b>of their customers each month<\/b> to churn, the business must grow by at least 27-43% annually<\/b> to maintain the same revenue.\u201d<\/li>\n
- Growth marketing, also known as growth hacking, relies on:\n
- \n
- Being nimble<\/li>\n
- Thinking outside the box<\/li>\n
- Measuring everything possible<\/li>\n
- Analyzing and quickly acting on data<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/img> <\/p>\n
Growth marketers don\u2019t build a marketing strategy to implement, because their strategy is to adapt to whatever seems to be working best. In order to know what\u2019s working, they have to just get out there and get started. You could say it\u2019s like throwing spaghetti at the wall to see if it sticks\u2014if you then measured exactly how much each and every noodle stuck. Then, one at a time, you\u2019d slightly alter cook time, the type of noodle, temperature, angle of the throw, and more to see how each affected noodle stickiness. But you still wouldn\u2019t be done, because then you\u2019d test the best settings of each element together and fine-tune further to eke out just a bit more stickiness. By the time you finished that, someone will have remodeled the kitchen with fresh wallpaper. So you\u2019d start all over.<\/p>\n
If it sounds like a never-ending process, it is. But that\u2019s the point. Your business environment is constantly changing, and so are your offerings as a company. And they\u2019re changing faster than ever before. If you decide on a marketing strategy that isn\u2019t dynamic, in the way that the Don Drapers of the world did, you\u2019ll be out of touch before your campaigns ever go live.<\/p>\n
Elements of Growth Hacking<\/h4>\n
So what do you need to hack growth? More than ever before, marketing depends on technical savvy and the ability to gather, interpret, and act on data. So here\u2019s what you\u2019ll need:<\/p>\n
- \n
- The ability to test everything<\/i>. That means views, clicks, and visits, as well as time spent on web pages and how much is made over the customer lifecycle. Some things are hard to measure, like exactly how many points of contact a customer needed before making a purchase, but a growth marketer will measure everything he or she can.<\/li>\n
- Robust data tracking solutions to accompany that testing.<\/li>\n
- A team full of both creatives and analysts. They\u2019ll need to work closely together to brainstorm, roll out, measure, and refine each and every strategy.<\/li>\n
- The ability to think outside the box. Just because many companies succeed using tried and true formulas doesn\u2019t mean there isn\u2019t a better way to eke out a few more leads or improve your ROI by a few more cents.<\/li>\n
- A willingness to commit to the long haul. Sure, \u201cgrowth hacking\u201d and \u201cgrowth marketing\u201d might sound like magical incantations that instantly improve your marketing. But as any programmer (the original hacker) will tell you, hacking is a long process where each small success builds on the next to get big results.<\/li>\n<\/ul>\n
If you can roll with all that, growth marketing could be the greatest thing for small businesses since the internet.<\/p>\n
Growth Marketing for Small Business<\/h3>\n
How can you get started implementing growth marketing in your small business? With so many variables to test and measure, and so many metrics that contribute to overall success, you could get lost in the possibilities. Here\u2019s how to get started without losing your mind.<\/p>\n
Step 1: Prioritize Ideas and Opportunities<\/h4>\n
Whether you hire an experienced growth hacker or take on the task of learning the trade yourself, you\u2019ll come across tons of ideas for how you can improve your efforts. But that doesn\u2019t mean you should act on all of them right away. That would be chaos to implement, and you wouldn\u2019t know which strategy changed your metrics in which way. Instead, focus on tactics that:<\/p>\n
- \n
- Have the greatest potential impact on your company.<\/b> This means those that will have the greatest growth in revenue and your company\u2019s KPIs<\/a>, or Key Performance Indicators.<\/li>\n
- Are the easiest to deploy and test.<\/b> You want the greatest results, but not if you have to spend all your resources to achieve them\u2014at least, not at first. Go for the low-hanging fruit in the beginning, then use your growth to fund exploration of more challenging opportunities.<\/li>\n
- Are most likely to succeed. <\/b>For example, if your team includes a skilled graphics designer, an experienced PR manager, or a phenomenal webmaster, go after opportunities than lean on these people for success.<\/li>\n
- Take less time to test.<\/b> At this stage in your efforts, you need feedback about what\u2019s working\u2014and what isn\u2019t\u2014fast. You need to understand the big picture as soon as possible so you can structure your next efforts accordingly.<\/li>\n<\/ol>\n
Kev Kaye of Growthboks<\/a> recommends dumping each of your ideas into a spreadsheet, then rating them for each of the above criteria. Add each rating into one overall score, and use that score to prioritize your efforts. Then knock them out one at a time.<\/p>\n
Growth Hacking, Growth Marketing, and Traditional Marketing: Same Goals, Different Methods<\/h3>\n
- \n
- Growth Hacking\n
- \n
- Scrappy<\/li>\n
- break things<\/li>\n
- Revenue focused<\/li>\n
- Startup focused<\/li>\n
- Agile processes<\/li>\n
- small teams<\/li>\n<\/ul>\n<\/li>\n
- Growth Marketing<\/li>\n
- Tradittional Marketing\n
- \n
- Perfection over speed<\/li>\n
- Big Budget cost center<\/li>\n
- Awareness focused<\/li>\n
- Unwieldy processes<\/li>\n
- Big teams<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/img> <\/p>\n
Step 2: Scale It Up<\/h4>\n
Once you\u2019ve tried out a few strategies, it\u2019s time to start using them throughout your brand. One of the most important elements of successful growth marketing is the ability to scale up your efforts. If you\u2019re a numbers geek or have a scientific mind, you may enjoy A\/B testing blog titles. Sure, having a passion for figuring out what makes consumers tick is going to help make you a good growth hacker, but the science isn\u2019t really the point. At least, an understanding of the science won\u2019t in itself affect your bottom line. You have to use your knowledge and you have to use it in big ways. You\u2019ve invested in learning what your consumers respond to, so make the most of it by scaling that knowledge up.<\/p>\n
The best part about growth marketing is that you often learn about more than just marketing. You can learn how to improve the entire customer journey with tactics you can employ in sales, service, product development, and even packaging and delivery options. Hire additional support as needed, knowing you\u2019re growing your business based on concrete, data-backed strategies and decisions.<\/p>\n
Step 3: Simplify<\/h4>\n
As you learn more about growth marketing and what makes your customers tick, work on streamlining your efforts. Learn which metrics make the most difference for your bottom line, and hone in on them. Streamline your testing process by writing down procedures and invest in better tools that make rolling out changes instant and easy.<\/p>\n
- \n
- Vanity metrics versus actionable metrics<\/li>\n
- Email Marketing\n
- \n
- Open rate<\/li>\n
- Leads generated<\/li>\n<\/ul>\n<\/li>\n
- Social Media\n
- \n
- Fans<\/li>\n
- Referral rate<\/li>\n<\/ul>\n<\/li>\n
- Paid search\n
- \n
- Ad position<\/li>\n
- Cost per acquisition<\/li>\n<\/ul>\n<\/li>\n
- Display advertising\n
- \n
- Impressions<\/li>\n
- Cost per lead<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
- \n
- Other metrics to consider include\n
- \n
- % net adds<\/li>\n
- conversion rate<\/li>\n
- % daily active users<\/li>\n
- engagement rate<\/li>\n
- referral rate<\/li>\n
- LTV to CAC rate<\/li>\n<\/ul>\n<\/li>\n
- A Sample of Ways to Track Events<\/li>\n<\/ul>\n
- \n
- Track\n
- \n
- Acquisitions\n
- \n
- Marketing channels<\/li>\n<\/ul>\n<\/li>\n
- How\n
- \n
- UTM tagging<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Track\n
- \n
- Activation\n
- \n
- Sign-up conversion rate<\/li>\n<\/ul>\n<\/li>\n
- How\n
- \n
- Event tracking<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Track\n
- \n
- Retention\n
- \n
- Returning visitor rate<\/li>\n<\/ul>\n<\/li>\n
- How\n
- \n
- Cohort reports<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Track\n
- \n
- Referral\n
- \n
- Users refferal rate<\/li>\n<\/ul>\n<\/li>\n
- How\n
- \n
- Event tracking<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Track\n
- \n
- Revenue\n
- \n
- Revenue per customer<\/li>\n<\/ul>\n<\/li>\n
- How\n
- \n
- Event tracking<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Event tracking<\/li>\n
- Choose the metric that matters most to the growth of your company<\/li>\n
- Treat it as your true north<\/li>\n
- It will create focus for the entire company<\/li>\n<\/ul>\n<\/img> <\/p>\n
Is Growth Marketing Right for Your Small Business?<\/h3>\n
Growth marketing is<\/i> the future of marketing. But is it the right move for your business right now<\/i>? While growth hacking is all about the long-term (a marathon, if you will) it happens in sprints. You\u2019ll do a whole lot of testing, then spend time implementing what you\u2019ve learned across your organization. And because what you learn today could change next month, in order to take advantage of your investment, you\u2019ll need to be ready to act on your findings right away.<\/p>\n
Sometimes, you\u2019ll get growth hacking results that your company simply can\u2019t adapt to quickly enough. If, for example, as part of your A\/B testing you end up with a huge influx of leads, but don\u2019t have the sales team to nurture them into customers, you may miss out. And if you end up doubling or tripling your product orders, are you poised to fill them?<\/p>\n
Prepare for Growth<\/h4>\n
Investing in growth marketing may require hiring new staff, guiding company culture in a new direction, and new equipment, software, or other tools. Before you do any of those things, make sure you\u2019re ready to capitalize on your investment with these key steps.<\/p>\n
- \n
- Line up additional suppliers, manufacturers, and other vendors to handle any overflow work.<\/li>\n
- Streamline your sales and other department hiring processes so you can find great candidates faster.<\/li>\n
- Ensure your board of directors and other executives are \u201call in\u201d and ready to approve actions based on new discoveries.<\/li>\n
- Choose tools<\/a> and technology that grow with you so you can avoid retraining, setup, and other unnecessary costs.<\/li>\n<\/ul>\n
Make sure your tools allow you to focus on your relationships with your customers. Use a cloud-based system for service, community management, and marketing. The right platform will help you set up A\/B testing for everything from social media posts to email drip campaigns. You can gather data from dozens of metrics, and also compile, display, and interpret it. Make it easier to share and implement your findings across your organization, no matter how big or small.<\/p>\n
Growth marketing is only as powerful as the technology behind it. With the right tools and people, you can find success in this very reactive, exciting marketing niche.<\/p>\n
<\/h3>\n
\n
- Revenue\n
- Referral\n
- Retention\n
- Activation\n
- Acquisitions\n
- Track\n
- Other metrics to consider include\n
Metrics to Consider in Growth Marketing<\/h3>\n
<\/h3>\n
- Are the easiest to deploy and test.<\/b> You want the greatest results, but not if you have to spend all your resources to achieve them\u2014at least, not at first. Go for the low-hanging fruit in the beginning, then use your growth to fund exploration of more challenging opportunities.<\/li>\n
- The ability to test everything<\/i>. That means views, clicks, and visits, as well as time spent on web pages and how much is made over the customer lifecycle. Some things are hard to measure, like exactly how many points of contact a customer needed before making a purchase, but a growth marketer will measure everything he or she can.<\/li>\n
- \u201cIf a typical SaaS business loses about 2-3% <\/b>of their customers each month<\/b> to churn, the business must grow by at least 27-43% annually<\/b> to maintain the same revenue.\u201d<\/li>\n