What is Growth Marketing (GM) Framework and How Can It Assist Your Business?
The Indian advertising industry is anticipated to be the second-fastest-growing advertising market in Asia after China. According to WARC’s latest Global Ad Trends report, Indian ad spends, growing at a rate of 11.9% is estimated to reach $9.3 billion in 2019. When we look at the digital landscape, the compound annual growth rate (CAGR) of the advertisement market in India is expected to grow at 33.5%, crossing the $3.8 billion mark by 2020. (Report by Confederation of Indian Industry (CII) and KPMG)
Most businesses struggle with targeting customers and making revenue at nascent stages. Factors like finances, the entrepreneurial prowess, and scaling speed define the rate at which they attain success. Marketing is another major factor that contributes to business success.
There is always a tiff between the start-up’s way of doing things against traditional project management of established businesses in the business world. In other words, its growth marketing vs. digital marketing.
What is Growth Marketing?
Growth marketing is an all-encompassing marketing strategy that aims to acquire and retain customers by targeting all the stages involved in the buyer’s journey through different marketing channels. The marketing strategy caters to unique wants, pain points, and questions of a user with creative and data-driven tools.
You must have heard of the term growth marketing at least once in the past few years. This increasingly popular marketing discipline, particularly in the start-up world, covers a gamut of customer nurturing techniques and tactics, designed with the single-minded focus to grow businesses quickly and efficiently.
Think of growth marketing as marketing 2.0. It is using traditional marketing as your base and adding layers of smart insights and well-tuned ‘twists’ that elevate every aspect of a user’s experience. Doing so ensures robust and sustainable growth for any business.
In general, a growth marketer is a bit savvier than a traditional marketer.
An essential ability of a successful growth marketer is the ability to blend both qualitative and quantitative info into a compelling story that will resonate with your audience.
- Data-Driven
- Creative
- Product/Service Understanding
- Try New Things
- Storyteller
What is Digital Marketing?
Digital marketing involves marketing through digital channels like mobile devices and social media. The digital marketing strategy involves building relationship-building between brands and customers to boost conversions shortly. It consists of targeting and capturing new customers through improved brand awareness.
