What Is Growth Marketing?

Growth marketing is a data-driven approach to rapidly growing a business through various growth experiments.

Written by Matthew Urwin
Published on Dec. 16, 2021
What Is Growth Marketing?
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Shelby Bolinger | Aug 11, 2022

Growth marketers consistently test to see if small tweaks made on different marketing channels — such as changes to website landing page design or the written copy on paid social media advertisements — result in higher customer acquisition, engagement and retention. These metrics are commonly associated with business growth.

What is the role of growth marketing? 

  • The goal of growth marketing is to quickly and efficiently improve the metrics closely associated with business growth, rather than to simply spread awareness about a brand.

Products lack staying power on the market if they don’t help fulfill consumer needs, so growth marketing shifts a company’s focus toward its customers. Determining who buys a product, how customers feel about the product, and whether they stay with the business are all crucial factors to consider. By taking this customer-first approach, organizations can ensure their customers are satisfied and create a steadier stream of revenue. 

The tech industry and other areas have come to realize the power of putting customer needs at the front of their decision-making process. For example, software sales teams are taking the time to research consumer preferences, receive user-submitted input and develop methods that best meet their customers’ needs on an evolving basis. By making adjustments to cater specifically to their customers and target audiences, companies will provide more value and keep users coming back.

What is the difference between growth marketing and product marketing?

  • Product marketing focuses on bringing products to market, while growth marketing focuses on improving not only user acquisition, but user activation and retention as well.

Both growth and product marketing are important for acquiring new customers. But product marketing managers are typically more concerned with the pre-launch marketing of products and first transactions. Meanwhile, growth marketers find ways to continue providing value to consumers long after they’ve made a purchase and implement various experiments to keep them coming back. Growth marketers take advantage of the value returning customers can offer. Returning customers can provide feedback and reviews, enabling businesses to make product improvements and scale faster.

 

How do you become a growth marketer? 

Besides learning advanced skills in the marketing field, growth marketers need to address challenges with a flexible mindset.

Understanding growth marketing tools and concepts are important steps to becoming a professional in the field, but cultivating curiosity and having an experimental mindset can be a great asset. Growth marketers need to remain on top of changing markets and keep a curious mind to continuously unlock new opportunities.

As new trends emerge every year, growth marketers must be able to adapt on the fly and adopt methods to reach new customers and retain existing ones. By adapting to consumer needs as they change, growth marketers can ensure their existing customers’ needs will remain fulfilled while attracting new customer bases. Mastering these skills creates a solid foundation that people can lean on as they navigate their growth marketing journey.

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