The modern marketer must recognize how to employ both growth marketing and brand marketing techniques in tandem to bring the best possible return.
Growth marketing, to some extent, depends on brand marketing. As opposed to growth hacking, which is essentially driven by tactical performance marketing, growth marketing strives to create brand awareness and affinity among clients who should perhaps purchase your product even if they aren’t available to do so yet. In other words, the consequences of your marketing endeavors must be sustainable.
As interest in both marketing approaches has been on a steep upswing in years, it’s worth examining both brand and growth marketing on their own merits before investigating the differences and relative advantages of both. In the subsequent articles, we’ll discuss both brand and growth marketing.
What is Brand Marketing?
Brand marketing is concentrated on boosting and establishing a company’s brand. The method would start by identifying your brand and asking yourself problems such as these:
- Who is the target audience?
- What do they demand?
- How is our company separate from the competition?
- What is the brand’s personality?
- What is a brand statement?
The final goal of brand marketing is to expand awareness, visibility, and acceptance of your brand while creating fixed – and positive! – emotional relations between your brand and your consumers. Consider how we correlate Apple with innovation, ease of use, and clean layout, or how Nike will always be associated with hard work, sweat, and determination.
Brand marketing is more concise about pushing specific merchandise or promotion and more about expressing your story in a form that resonates.
Building a brand as steadfast as those mentioned won’t appear unless Marketers adhere to certain principles:
- Uniformity: To strike home the brand’s story, the marketing battles need to be consistent – in terms of voice, messaging, and visual aesthetics – over all platforms.
- Passion: We aren’t just loyal to specific companies or brands because we like their products. Often, our buying choices are tied to our sense of integrity and the perceived values of the businesses making those products.
- Distribution: Trust is an indispensable element in building a powerful brand, ensuring that your marketing aligns with what you’re giving your customers. With brand marketing, measurable goals could include friendly media coverage, attention or assistance from influencers, or strengthened social-media engagement.
What is Growth Marketing?
Growth marketing is involved with the entire funnel. The goal is revenue growth not simply through bringing in new clients but also through the activation, preservation, referral, and monetization of the clients you already have. Growth marketing eliminates the limits of marketing to allow every customer experience to focus on attracting more engaged customers.
Where traditionally, marketing departments might have been their separate entity within a corporate structure, Growth Marketers are often more integrated within product development.
Following agile development principles, growth marketing is a data-driven process that operates on a cyclical sprint model where performance is constantly tracked, tweaked, and optimized.
Borne mainly out of need – because startups rarely have extensive marketing budgets – growth marketing is an evidence-based method that leans heavily on tactics. It’s innovative, iterative, and – most importantly of all – user-focused considering growth marketing is far more concerned with customer endurance value and customer retention than customer addition.
A/B testing, engagement measurement, analytics, and user-testing are significant parts of the growth marketing process and create measurable goals and stay current and agile with campaigns-in-progress.
Examples of Growth Marketing
Good Growth Marketers are often very creative.
- Airbnb was getting off the ground, the startup cleverly tapped into a much larger user base than its own by offering users who listed their properties on Airbnb the option to post them to Craigslist as well.
- Pinterest is creating an air of exclusivity by requiring members to request an invitation to join or Dropbox turning its users into mobile marketers by incentivizing referrals with free storage.
Conclusion
That drives us to something both brand and growth marketing tactics have in common, and one reason it makes sense to use both approaches together: their success is included in the long term. And to that end, thriving growth and brand marketing approaches both require and reward commitment. It is expected to have a more reactive planning cycle, where new tactics and strategies are expedited and executed regularly.
