What is the difference between growth and traditional marketing? (Review)
I am familiar with growth marketing which is commonly known in the start-up area. Marketing is related to growth, so why we derive a new job title while there are so many new definitions in the changing world? If we change our mindset to marketing pathways, maybe it would be better to identify something new. The definition of growth marketing maybe can help us. I’ve learned so many things from CXL courses and I want to share this.
The question is what is the difference between growth and traditional marketing?
First of all “traditional” word evokes old things, when we see the “traditional” prefix, we can easily it is old and maybe useless today.
Through a case
The case is you are a marketer and you should increase your retention rate by using an email campaign.
Traditional marketers send an email for the reminder that means we are here, don’t forget us. It means there is no way to make sure whether it is the right message for this audience or not.
People can click the links of the email you sent them. In the marketing area, so many people confuse between causation and correlation. People click the links and sales increase. Is this causation or correlation? You should track everything as possible.
The growth mindset is to ask a question which the shortcut and best way to reach the goal.
The key question of growth marketing is: “How do I make it better?”. Maybe we can change I into you, I’ve read an article which I don’t remember what is the name or where I read it, it says if you ask yourself like you are not you, you can think clearly in that way.
Let’s get back to the case.
First of all, we should ask ourself that does send an email increases purchases and how can we send them the best email that’s going to lead to the most purchases and the most retention, and then what is the right message to send people?
Everybody cares about the same thing, marketing who has a growing passion should do A/B tests to learn what the audience wants to see from the brand.
Three keys of the perspective
· Right message
· Right offer
· Right customer experience for each customer
Reach people in different ways to drive the best experience and the best results.
I love this quote from Margaret Mead who anthropologist I’ve read her articles: “You are unique like everyone else.”
McBride says that you can not treat all customers the same, assuming they care about the same thing is the wrong way to grow. We as marketers should track all data we can, understand it, and create a plan to reach more numbers.
Determine which campaign is better than the specific group.
Steps: Evaluate the data you gather, create a marketing pathway, test it.
When the data shows you what you achieved and what is the process of the growth, you can easily say your growth way including individual campaigns is more sufficient than the classic way including one campaign for all people. It is hard to do, and an exhausting thing though.
We should create and run all things we can do unique and individual, everyone is different than others.
What is the holy grail of experimentation and growth?
The short answer is personalization and delivers the customers’ unique messages.
“People will be more loyal to your brand. They’ll feel that one-to-one personal connection when you can deliver them personalized messages and optimize everything for the individual. So that’s the holy grail of experimentation and growth.”
Every sustainable improvement translates to down funnel effects.
“Even when you fail, you are learning.”
Every run starts with one little step and every guru was an amateur when the beginning of the journey. If we learn useful things and determine what is the inside of the mistake, making mistakes will make us more visible.
Three things we should measure
First thing first we need to know what should we test. Peep Laja in the CXL course (Research and testing part) talked about it.
· Test (or make) more effective changes
· Reduce the duration (and cost) of optimization
· Improve the speed of experimentation
Different tactics okay, how about the research?
Nowadays everything changes easily and we need to learn something new particular time. How can we know whether sources are valuable or not for our goal?
First of all, you should judge the source! =) If you are learning the ways to increase conversion rate, you can check the retention rate of your source. Ask yourself that you want to re-enter this source, your customer journey is perfect. If you can say yes, we can move to the second step, you should test all ideas which seem suitable for your goal. So what if you test 100 ideas for four weeks. It will. take us seven and a half years! We should change something and learn what we run the process step by step.
“Blind leading blind”
You’ve should probably known “benchmark”, evaluate your competitor and copy the best tools, widgets from them and imply your website. Is that mean what is useful for your competitor’s website to use your site? What if the sufficient thing you think of your competitor is the worst thing of its? You should test everything!
· Know what to test.
· Describe your optimization work as a process.
“Conversion optimization is a systematic way to finding opportunities for growth and developing data-based ideas for how to build upon those opportunities.”
The main questions and ideas we should think about it for optimizing
Asking a true question is an art that delivers you to a true answer. So these are the key questions of the optimization.
· Where are the problems?
· What are the problems?
· Why is this or that a problem?
· Turning known issues into test hypotheses
· Prioritizing tests and instant fixes
It is easier to sell benefits the sold product. We have ideas about what is the matter of the thing we want to sell. In these ideas, we should test them through the upwards questions and ideas.
This article is the first step of changing mindset into growth style. Basic, soft, and including is the importance of testing and asking true questions. I look forward to continuing to share the things I learn from CXL.
