How Does the Growth Marketing Strategy Enhance Your Business?

Stucarecloud – All business surely depends on how many customers that buy your products or services. The thing is how we get customers effectively. Hence, you have to set a growth marketing strategy to attract more customers.

More customers, the higher profit will be. However, the source of profit doesn’t come from the quantity of customers alone. Quantity of products or services that a customer buy surely brings more benefit. So, marketing should attract more customers and ensure them to buy more products.

Definition of Growth Marketing Strategy 

The strategy of growth marketing refers to approach to gain more users using several tests. To determine which strategy that will be effective to attract customers, you must apply several tests. If the test is quite successful then you can go on with the strategy. Otherwise, you need to set more tests. 

Applying Marketing Strategy 

Customer is the most crucial factor to keep the business running. Without customers, a business is nothing. One thing for sure, getting customer in the first contact is impossible. In this case the marketing strategy has important role to gain customers effectively.

  1. Maintain the Existing Customers

It is true that getting a customer is difficult, especially the in the first trial. But, maintaining the existing customers is not that easy either. You will require more effort to keep their satisfaction. Once they are satisfied with your product or service, there is a chance they will be your loyal customers. 

The marketing strategy needs to change a new customer to be a loyal customer. Besides, the marketing strategy must ensure the existing customers keep using your products or services. Eventually there will be repeat order that increases your profit.

The popular growth strategy in marketing includes user onboarding, email triggers and incentive programs. These programs are relatively easy to apply. 

  1. Gain New Customers

Selling a new product to loyal customers seem less friction since they already know your services or products. It means you already gain their trust, so once you launch a new product and sell it to them, they are quite willing to accept the offer. 

On the other hand, selling a product to a new customer is quite challenging. Since you haven’t got their trust, you have to convince them properly so they will purchase your products. The marketing strategies like social media, free trial periods, and paid search are relatively effective to get new customers.

  1. Increase Profit

The goal of running a business is to get a profit. How the marketing strategy progress, it gradually affects profit. In some cases, a revenue elevates, but the profit declines due to non-expendable growth marketing. 

If the cost to acquire customers is higher than the customer lifetime value, it clearly shows that the business economics is unhealthy. A good marketing strategy should expand revenue without adding more expenses. Strategy to raise profit includes customer surveys, annual billing, bundled package. 

By applying several types of growth marketing strategy, your business will surely grow gradually. The key to reach the goal in business is a consistency in growth marketing. If one method doesn’t work, you can experiment on the other methods that seem effective to enlarge your business.

Write a Comment

Your email address will not be published. Required fields are marked *