What is growth marketing?
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Growth marketing is a style of marketing. The distinctive feature of growth marketing is that it takes into account every stage of the customer journey and implements systematic changes to improve business outcomes like revenue, retention and overall growth.
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What is growth marketing?
- 2. Source: positivehuman.co/mp/what-is-growth-marketing WHAT IS THE CUSTOMER JOURNEY IN MARKETING TERMS? Awareness Unaware > Most Aware Acquisition Trying it out Activation Engaged users Revenue Paying for the product Retention Sticking around for longer Referral Telling others
- 3. Source: positivehuman.co/mp/what-is-growth-marketing Awareness Unaware > Most Aware Acquisition Trying it out Activation Engaged users Revenue Paying for the product Retention Sticking around for longer Referral Telling others TRADITIONAL MARKETING GROWTH MARKETING
- 4. Source: positivehuman.co/mp/what-is-growth-marketing Awareness Unaware > Most Aware Acquisition Trying it out Activation Engaged users Revenue Paying for the product Retention Sticking around for longer Referral Telling others GROWTH HACKING GROWTH MARKETING
- 5. Source: positivehuman.co/mp/what-is-growth-marketing CUSTOMER JOURNEY AWARENESS Taking a potential customer from unaware to most aware FOCUS ON: Being clear about value propositions Aligning yourself as a good solution to your potential customer’s problem Guide them through their journey from being unaware to most aware
- 6. Source: positivehuman.co/mp/what-is-growth-marketing CUSTOMER JOURNEY ACQUISITION Helping a user get started with your product FOCUS ON: Making it easy for a new user to get started Using any channel at your disposal to acquire new customers Attempting to filter out low value signups from people who are not serious
- 7. Source: positivehuman.co/mp/what-is-growth-marketing CUSTOMER JOURNEY ACTIVATION Creating engaged users who are likely to buy FOCUS ON: Identifying areas that cause bottlenecks for users Creating educational content to help users get the most out of your product Sending engagement campaigns via email and SMS to users who are dropping off
- 8. Source: positivehuman.co/mp/what-is-growth-marketing CUSTOMER JOURNEY REVENUE Getting paid for your work FOCUS ON: Think about the checkout process and messaging Ensure your pricing model is clear to users and communicated well Manage key metrics like CAC, ARPA/ARPU and how they feed into MRR
- 9. Source: positivehuman.co/mp/what-is-growth-marketing CUSTOMER JOURNEY RETENTION Keeping your customers on board and happy FOCUS ON: Projects that will drive increased adoption Clear communication around the value that a customer has received from you Understanding why customers who don’t renew made their choice
- 10. Source: positivehuman.co/mp/what-is-growth-marketing CUSTOMER JOURNEY REFERRAL Getting your customers to share your product FOCUS ON: Collecting testimonials, case studies and quotes Building well aligned incentives for customers to actively refer to you Keeping your CAC figures updated when new customers join via referral
- 12. Source: positivehuman.co/mp/what-is-growth-marketing GROWTH MARKETING TERMS MONTHLY RECURRING REVENUE The amount a customer pays you on a recurring basis — usually without you needing to invoice them manually. Most people track the total MRR i.e the total amount all their customers pay them each month. MRR
- 13. Source: positivehuman.co/mp/what-is-growth-marketing GROWTH MARKETING TERMS ANNUAL RECURRING REVENUE The recurring revenue added by a customer, a segment or all customers on an annual basis. Some people prefer to include only annual payments in this, leaving out customers who pay monthly. ARR
- 14. Source: positivehuman.co/mp/what-is-growth-marketing GROWTH MARKETING TERMS CUSTOMER ACQUISITION COST The average amount that you spend to acquire a paying customer. Should include marketing salaries, software as well as ad spend etc.CAC
- 15. Source: positivehuman.co/mp/what-is-growth-marketing GROWTH MARKETING TERMS LIFETIME VALUE The average amount that a customer pays you across any given period. Most people choose the entire lifetime. Some people track quarterly or annual figures too. LTV
- 16. Source: positivehuman.co/mp/what-is-growth-marketing GROWTH MARKETING TERMS PAYBACK PERIOD The amount of time that it takes you a customer to pay you back your entire CAC. Once they’ve done that, they’re a profitable customer.
- 17. Source: positivehuman.co/mp/what-is-growth-marketing GROWTH MARKETING TERMS RETENTION RATE The percentage of paying customers who allowed their billing method to be charged a second or nth time. Some people track retention of free users too. Do what suits your business goals.
- 18. Source: positivehuman.co/mp/what-is-growth-marketing GROWTH MARKETING TERMS CUSTOMER CHURN RATE The percentage of customers who didn’t make it to a following stage in the funnel because they stopped using the product for some reason. Churn happens at every stage of the funnel but most people refer to churn in relation to paid renewal.
- 19. Source: positivehuman.co/mp/what-is-growth-marketing GROWTH MARKETING TERMS REVENUE CHURN RATE Percentage revenue churned. Similar to customer churn rate except that in a tiered pricing model different customers pay different amounts. Losing an enterprise customer costs you more than a single user.
- 20. positivehuman.co LEARN MORE ABOUT B2B SAAS GROWTH MARKETING AT POSITIVEHUMAN.CO