This is the third in a series of four blogs: a step-by-step guide on Building and Executing a Successful Growth Marketing Strategy. You can read the previous article here.
So far, we’ve mentioned that Growth Marketing takes a holistic approach, consistently aiming at long-term sustainable growth. In order to implement an effective Growth Marketing Strategy, we addressed the 4 key steps (below) and elaborated on the first two: Defining Personas and Building Growth Funnels.
1- Define your Personas
2- Build Growth Funnels
3- Create Growth Tactics
4- Monitor, Measure, Optimise, Repeat
Now, it’s time to clarify step 3 by using our end-to-end Growth Marketing Suite- Marketing Machine- and its screens.
Step 3: Create Growth Tactics
Once your funnels are completed, you are ready to start building growth marketing plans by generating tactics, where you need to associate each tactic with related growth funnels and personas.
On the Marketing Machine platform, we generate growth tactics in 4 growth areas:
1. Reach / Attract: This area is for brand building, creating brand awareness and reputation. The main goal we pursue is converting strangers into visitors.
2. Engage / Convert: The main goals here will vary according to your business model.
a. If you generate leads through marketing efforts (usually B2B), this area will assist with lead generation activities, aiming at converting visitors into leads.
b. If you generate revenue via online sales through marketing efforts (usually B2C), this area will manage customer/revenue generation activities with the aim of converting visitors into customers and increasing revenue per re-visited customer.
3. Nurture / Close: This growth area is for (B2B) lead nurturing and customer generation activities with the aim of converting leads into customers.
4. Retain / Grow: The tactics generated here are for keeping existing customers, expanding revenue through existing customers, and converting customers into promoters.
Picture 1: The placement of the 4 growth areas on a growth funnel, on the Marketing Machine Suite
Let us clarify the process for you with some examples of what kind of growth tactics can be generated for each growth area.
Tactics for Reach / Attract
Since we are aiming at brand awareness here, the tactics will consist of:
Picture 2- An example of a reach/attract tactic screen on the Marketing Machine Suite
Tactics for Engage / Convert
At this point, we are aiming to optimize the conversion rate of the visitors who become leads. So, we can simply say that the tactics here are for CRO (Conversion Rate Optimisation) and consist of:
Picture 3- An example of an engage/convert tactic screen on the Marketing Machine Suite
Tactics for Nurture / Close
If your business model is B2B or your solutions are catering to enterprises, the process (see picture 6) from lead generation to sales takes months, requiring you to nurture your leads with some marketing activities.
A key point at this stage is that your sales and marketing teams should collaborate and communicate well, mutually focusing on ROI (Return on Investment). In fact, many organizations are starting to create one “growth unit“ instead of separating sales and marketing teams. This way, funnel-based pipelines lead to scoring processes, and sales processes can be easily monitored and managed mutually.
The tactics for this growth area may include:
Picture 4- An example of a nurture/close tactic screen on the Marketing Machine Suite
Tactics for Retain / Grow
This growth area is all about customer lifecycle management. What we need to aim at here is keeping current customers (retention), selling more products/solutions, and facilitating brand promotion through our existing customer base. The tactics for this growth area might be:
Picture 5- An example of a retain/grow tactic screen on the Marketing Machine Suite
As you can see, there are numerous tactics that can be created for various scenarios. In the next article, you will see how to measure and optimize our growth tactics to gain the best results.