Growth marketing is a newer form of data driven digital marketing. Growth marketing is a relentless process that enables an intensive, short feedback loop that facilities an accurate approach to resource allocation and business growth. It’s about efficiency and productivity.
Based upon the principles leveraged in ‘agile software design’, growth marketing (aka agile marketing) uses short sprints to deploy growth marketing activities and then measure the effect before choosing where to push its next sprint’s resources.
The initial phase of growth marketing is to implement full-funnel analytics, a range of measured events or data points down the entire marketing and product funnel of a business. Once the the product has been ‘instrumented’ a ‘funnel’ can be easily visualised. This enables a growth marketing team to identify where friction points in the business funnel exist and then allocate resources to resolve the bottleneck.
Once the team agree as to where the issue lies, they go about deploying a range of statistically rigorous tests to unlock the friction point over a given time period, aka a sprint. This form of marketing it relentless in its approach to growth and is often referred to as funnel stack growth because it potentially affects any part of the marketing and product stack.
The length of a sprint can vary from one growth team to another, but the aim is to provide a regular process to identify the friction point and discuss ways to address it. Therefore, the shorter this loop the better because it provides more feedback. An optimum length of sprint in our experience is 1 week. At the start of each sprint the team meets in a weekly SCRUM to discuss the following agenda (this is one of the agendas we have worked with here at Rebelhack to make the process as efficient as possible):There are others areas that would fall under the category of paid search advertising that should be understood such as:
p.s. we’ve got this down to a tee, so you might want to start with a lengthier SCRUM, perhaps an hour in total.
Allocate a SCRUM Master and ensure they run the meetings like closework. This could be the Head of Growth, but it does not have to be. This process is about the long game and so finding your teams’ rhythm is paramount.
Once you have found your groove, you will begin to see little wins. 1% there, 4% there. You will also find that you fail regularly. However, as long as these are brought up and discussed you will learn as a team and change what you’re doing. You will literally ‘fail your way to winning’. Slowly you will see that you are delivering month on month growth for your business’ bottom line. It’s an iterative, machine-like, compounding, approach to business growth that delivers over the long haul.
Growth marketing can therefore take the form of many marketing related activities, such as channel optimisation, CRO, SEO, product design, web analytics, and mobile marketing. This means that growth marketing teams are filled with non-traditional roles such as: