Growth marketing is like traditional marketing on steroids. Traditional marketing is slow to market, and the strategy essentially stays the same. This usually involves some out of home billboards, holding a sale, driving traffic to your store via coupons and free product giveaways. With traditional advertising, you don’t know what is or isn’t working until you’re far into your campaign.
Growth marketing, in contrast, involves failing fast. What do you mean failing fast?! With growth marketing, you get to experiment with different channels, techniques, and strategies (sometimes on a daily basis), identify what is working and ditch the tactics that are eating up your time and budget.
With growth marketing, you’re measuring everything and constantly adjusting your strategy. This may sound daunting, but you’re typically changing one thing at a time, otherwise you won’t know what is working.
A big part of growth marketing is A/B testing everything. And I mean everything! From your ad creative, to your ad headlines and copy, to your landing pages, to your email signup forms and offers, to your newsletters. With A/B testing you can quickly determine a winning strategy, and further optimize from there.
At the end of the day, growth marketing is about lowering your cost per conversion, and increasing the amount of customers/clients at the same time.