How to Master Growth Marketing in 2024
Growth marketing has emerged as a dynamic and results-driven approach, encompassing a range of strategies designed to fuel business expansion. As we step into 2024, mastering growth marketing is more pertinent than ever. This comprehensive guide will provide insights into the latest trends and strategies to help businesses navigate the intricacies of growth marketing successfully.
The marketing landscape has come a long way over the course of the last ten years. We’re talking artificial intelligence or AI-driven algorithms, new search tools and advertising trends that change quicker than you can say “growth marketing.” On the off chance that you’re actually gripping to your old-school marketing playbook, it’s time for a reality check.
The game has advanced and you need to adapt or get left behind. You need a growth marketing strategy that’s not just strong but also agile. Anyway, what’s the plan for 2024? Do you really want assistance from a growth marketing agency? Read this total manual to master your growth marketing plan this year.
What Is Growth Marketing?
Growth marketing or growth hacking (growth hacking!!) is a data-driven and profoundly engaged way to deal with marketing. The key word here is growth, companions. A successful growth marketing strategy targets accomplishing fast scalable business growth and customer acquisition for your brand.
Dissimilar to other traditional marketing that covers a wide range of activities, a growth marketing campaign has its sights set on specifically acquiring and retaining customers to expand your business and bring in more revenue.
Here are the elements of a winning growth marketing formula for organizations:
- Formulating a strategy
- Attract audiences
- Convert clients
- Delight clients for repeat purchases
“This Growth Formula is valuable for our customers because it takes a wider view of how the sales funnel works,” It’s not only focused on lead acquisition but how we take the leads that we create and turn them into loyal customers.
2024 Growth and Digital Marketing Trends You Need to be Aware:
While growth marketing has been around for north of 10 years, it’s a consistently advancing discipline. This implies marketers need to keep up with the latest trends and insights in order to remain competitive.
The following are four key growth and digital marketing trends to look out for in 2024:
- AI Driven Marketing:
AI has turned into a large part of our lives now and the marketing industry isn’t falling behind. As per 84% of marketers are already using AI in some form and 75% plan to spend more on it in the next three years. As a matter of fact, tools like HubSpot and Marketo are leveraging AI to automate tasks and provide insights.
- Video Marketing:
As per 91% of marketers say video marketing has helped them increase traffic in 2023. Platforms like YouTube, Facebook (now known as Meta) and Instagram are where video content truly shines. Other short-form video platforms like TikTok and surprisingly, 360-degree video have been on the rise lately, too. While it may not apply to all organizations, there’s a lot of potential in these platforms if you find the right audience.
- Voice Search Optimization:
Test this on your device: “Hello Google, how large is voice search?”
It’s pretty big, as a matter of fact. As indicated that 72% of U.S. consumers are using voice search through digital assistants. And keeping in mind that the top activity is checking the weather, you’re actually passing up an immense lump of potential traffic if you’re not optimizing for voice search.
- Social Commerce:
On the off chance that you’ve bought stuff directly from your social media feed, you’ve already seen social commerce in action –a combination of social media and Ecommerce marketing. It has reported that the worldwide revenue of social commerce is valued at $724 billion in 2022 and is expected to surpass $6 trillion by 2030. Platforms like Facebook and Instagram lead the charge in a few classifications, including:
- Food delivery services
Pinterest additionally offers “buyable pins,” where customers can purchase items from the app.
Steps To Build a Growth Marketing Strategy:
Building a marketing growth strategy is definitely not a limited time offer arrangement. It’s a combination of systematic planning and innovative experimentation. The following are some steps to consider when mapping out a growth marketing strategy:
- Define Your Goals and Targets:
The first thing you should do is sort out what you’re trying to achieve. Would you like to boost your sales? Increase your web traffic? Improve your client retention? Regardless of what it is, you need clear goals. The SMART framework (specific, measurable, achievable, relevant and time-bound) is a decent beginning stage that helps you set ambitious but realistic objectives.
Your goals and objectives will act as your roadmap, guiding your decisions within your marketing growth strategy.
- Recognize Your Target Audience:
You should target everybody to expand growth, but it’s simply not possible. Instead, focus on the people most likely to purchase your product or service. You can utilize data analytics tools to segment your audience based on several factors, such as:
The more you understand about your audience, the more personalized and effective your marketing efforts will be.
- Plan Your Content Schedule:
Timing is an underestimated component in content creation and you should pay attention. A well-planned content schedule helps you stay organized and post the right content at the right time.
Keep these things in mind while building your content calendar:
- Key dates
- Relevant industry events
However, your schedule shouldn’t be rigid and inflexible. Leave room for impromptu, reactive content that makes advantage of timely opportunities and conversations as they arise. Use tools like Airtable or Asana to keep everybody on the same page.
- Develop an Engagement Strategy:
Once you know who you’re talking to, sort out how to engage them. This is where content distribution comes into play, using the perfect channels at the right time. To begin, these three channels could prove valuable to you:
• Social media: These platforms are perfect for engaging with your followers, sharing content updates and developing relationships.
• Email: Use email missions to keep clients informed and encourage them to act.
• Blogs: Blogging is an extraordinary method to share expertise and demonstrate thought leadership in your industry.
However, try not to simply reorder content. Tailor your message to fit the platform and the audience, remembering mobile first marketing in mind.
- Think about Paid Advertising:
Organic growth is perfect, but sometimes you need a little push. Paid advertising can give you that prompt lift in visibility and engagement. Platforms like Google Ads and Facebook or Meta Ads offer high level options, allowing you to reach potential customers already interested in your offering.
Be 2024-Ready with Serve24Hour:
Exploring the complexities of growth marketing can be challenging, but you don’t have to do it alone. In the event that you’re significant about taking marketing game to the next level, consider partnering with a growth marketing agency that lives and breathes this stuff. Serve24Hour digital Growth Marketing Agency offers the expertise, tools and data-driven marketing that help you meet and exceed goals.
In 2024, mastering growth marketing requires a holistic approach that integrates data, personalization, and a deep understanding of evolving consumer behavior. Embrace the latest technologies, prioritize user experience, and stay agile in adapting to industry trends. By following these strategies, businesses can unlock the full potential of growth marketing and position themselves for sustained success in the digital landscape.