The four building blocks of a successful growth strategy.
On this page, we would like to introduce the four building blocks of a successful growth marketing strategy. Growth marketing puts the key drivers of products and services at the heart of a marketing and sales strategy. The resulting growth strategy increases customer engagement while remaining brand authentic. This growth strategy begins at the intersection of design thinking, marketing technology, marketing (data) strategy and sustainability.
Growth Marketing is Design Thinking
A growth plan should stimulate innovative thinking in existing products and services (or in creating new ones). Design thinking uses the designer’s methods and processes to match customer needs to concrete added value that products and services deliver. It makes a growth plan tangible and establishes relevant KPIs to increase customer engagement.
Growth Marketing Embraces Technology
A successful growth strategy blends creativity with (digital) engineering and technology. It should integrate new marketing techniques such as growth hacking, but with a clear mission to build brand equity. All growth hacking tactics should create relevant content and bring enough added value to its customers, so that it can convert them further down the sales funnel.
A growth plan should explore and embrace new technologies. Virtual reality, augmented reality, and artificial intelligence (among others) must have a clear link with the initial brand promise. If this is not the case, these products and services are essentially new brands and require a separate brand strategy.
Growth Marketing Employs Data Ethics for a Competitive Advantage
A growth strategy is always-on. Always-on strategies are built on customer data. The imminent European ePrivacy and data protection rules impose strong barriers to collect data or identify customers unlike what has been previously allowed over the past decade. Designing for trust will be crucial—so it must be central to the growth strategy.
Companies aiming for growth must go beyond the legal and technical aspects of data collection and storage. Data ethics is a new vision that a brand develops to integrate privacy into the company strategy; transparency to the outside world is a key feature. Membership marketing is becoming the new standard where customers are asked to log in to online platforms before any content is provided. Growth marketing develops a vision on how to build these online communities so that brands are always-on.
Growth Marketing is Sustainable in Time, Space and Context
Growth marketing is no longer a linear, but an iterative, process that uses insights to continuously improve marketing ROI. It demands a lean and mean approach and bottom-up thinking centered on the products and services. At the same time, growth marketing is customer-centric marketing and seeks to address customer needs over the short and long-term. This approach will lead to more meaningful relationships between brands and their customers.
Growth strategies finally break the silos where advertisers, creative agencies, and media are used to thinking in verticals. An “everything is media” view will stimulate creative thinking and go beyond borders in terms of audiences, culture, and business. The absolute focus of a growth plan is to bring added value to its (potential) customers in a relevant context. Content marketing is thus an important part of that growth marketing strategy.