Growth Fundamentals
Most startups have the common challenge of marketing with minimal budget.
Globally people have coined various terms like zero dollar marketing and more, essentially growth marketing is a metric driven approach.
For startups, successful marketing is no longer only about acquiring new customers, it’s about acquiring customers that will stick around as your business evolves.
The fundamental to growth marketing is not just tactical marketing but deep understanding of the customer journey and hence experience.
"Growth marketing is all about attracting more engaged customers"
Growth marketing for startups
Growth marketing is a lot of creative experimentation and relentless testing of new ideas.
Growth begins at the product/ service level. Most startups still think its only marketing. It actually begins with the product that's supposedly solving a meaningful problem.
"Growth is not about marketing. It begins with the product/ service first"
For almost all technology/ new age businesses growth follows a similar journey of on-boarding - activation - engagement/ retention - referral/ word of mouth - revenue - churn.
Founders must figure out the customer journey and build growth tactics to ensure retention and growth at a low cost.
The growth marketing team must build a framework for rapid growth. This team is the mix of CRM, Marketing, Product and Sales.
Growth marketers address all possible funnels across the customer journey to ensure growth not just as new customer acquisition but actually growth in retention and word of mouth to ensure growth with low cost customer acquisition.
"Growth marketers address not just new customer acquisition but in retention and low cost growth as the overall lifetime value of the customer increases"
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