Without effective business growth marketing strategies, there is a rare chance of survival in this fiercely competitive market. Whether you are running a small business or a multi-national brand, growth has to be on top of your mind to stay ahead. And if you think your growth strategy is complete without thinking digital, we have some facts for you:
- From 2018-19, Snapchat’s monthly active user base reached 360 million.
- Half a decade old Tinder witnesses over a billion user actions every day.
- Last year, Instagram doubled its user base to 800 million monthly active users.
Because entrepreneurs and businesses think of Upreports when they think about growth marketing, we decided to share proven business growth marketing strategies to help business owners trying to find their way out of the growth labyrinth.
Have a look at these powerful business growth marketing strategies that will help you win in 2020:
Marketing your products and services to a niche audience is quickly becoming a popular business growth marketing strategy. Also known as micro marketing, it’s quite inexpensive to start and offers way less competition and a great platform to build customer rapport.
Niche marketing lets you concentrate your full-blown efforts to one specific, well-defined segment of the population. Here is a tip for those planning to indulge in niche marketing:
In recent years, the web has seen the emergence of niche focused platforms which has simplified the task for businesses and helped them deliver tailored experiences. Or you can just focus on solving one problem at a time. Here’s how Bonobos did it.
Renowned business growth marketing strategists and growth hackers are calling Influencer Marketing “The Next Big Thing”. And there are solid numbers to support the fact. Collective Bias conducted a study involving 14000 respondents in the USA, and it revealed that 70% of millennials take ‘social word’ of their peers while making purchase decisions.
There can be many ways to integrate influencer marketing into your growth marketing plan but the easiest is to collaborate with influencers that matters to you. Thankfully, there are influencers and micro celebs in almost every industry. In short, this has to be one of your top growth marketing strategies in 2020.
Discuss your business growth queries with the top team of growth hackers over a free email consultation session.
AI powered marketing
AI marketing means leveraging futuristic tech to create business leverage and improving human experiences. In simpler words, data is used to furnish information based on moods, interests and needs. Now, AI powered growth marketing is not something small businesses can put their pets on right now because of associated costs. However, this is already one of the favorite business growth marketing strategies of big brands.
Last year, Starbucks introduced its customers to AI marketing through My Starbucks Barista. The Barista is a voice assistant uniquely tailored to the behavior, context and preferences of each customer. It’s not hard to understand how AI can effectively impact your business model if you have the financial resources for it.
Reverse engineering growth strategy
Reverse engineering is the process of working backward from the closure to understand how that finish point was reached. Answering questions like ‘What strategies are working for my competitor’ is where the whole process begins. You could get your answer by reverse engineering major campaigns that have been successful for your competitor.
When it comes to marketing, reverse engineering can include identifying keywords, backlinks check, content analysis, paid campaigns review, etc. It’s all about finding the most rewarding work of competitors to make it part of your overall growth marketing strategy. SEMrush is one of the best tools to reverse engineering by running in-depth competitor analysis.
Create video & VR content
A survey based on video content marketing concluded that business growth marketers investing in video content strategies are growing revenue 49% faster than others. Look at any major media platform and you will realize how fast the shift to video content is happening.
If both text and video content is available on the same topic, then, most are likely to choose video. Need a solid fact that will prove that video and VR are the future? Facebook spent nearly 2 billion dollars to acquire Oculus, the leading tech brand in virtual reality space. That’s why we recommend clients to focus on video while crafting growth marketing strategies for social channels like Facebook and Instagram.
Leverage social media for growth
According to a social media growth report, 92% marketers claim that social media marketing services play an essential part in promoting your business better. 80% stipulated that it brought tremendous value to their online assets. These statistics demonstrate huge potential for social media marketing to grow business exponentially and to maximize sales.
With 2.07 billion and 800 million monthly active users, Facebook and Instagram are the biggest social media platforms that could be leveraged for social media marketing. Here’s how Chobani Yogurt boosted their sales by using social media.
Big data driven growth
The talk about big data has been going on for more than half a decade now but it is now that it has started making sense to small and mid-sized ventures. Every business has business data but its complexity often makes it redundant. Big data technologies assisted with machine learning and AI are making it easy for all to make the most of data. From established brands to non-profits, everyone is taken by the potential of Big Data. Here is a success story for deeper insights.
Now that we have spoken about the lesser-known business growth marketing strategies in detail, let’s wrap up by acknowledging the popular & futuristic growth marketing tactics.
Here are the remaining business growth marketing strategies that will help you win 2020:
Device driven marketing – Smart speakers literally invaded homes across the world. Such devices obviously will soon become a critical part of marketing growth strategies.
Micro moments – The marketing concept evolved by Google is going to be big in coming years. Learn more
Chatbot driven interactions – People love to chat more than speaking over phone, and this is driving Chatbot driven growth marketing.
Native ads – As web users grow less tolerant to generic advertising, marketers have to bet on growth marketing strategies focused on native ads.
App focused marketing – There is an app for everything out there and hence leaving popular apps out of your growth marketing strategy 2018 won’t be wise.
Above are the major business growth marketing strategies and advertising channels that small as well as big brands will be betting upon. However, this doesn’t mean tried and tested growth marketing tactics like paid campaigns, SEO, and social media doesn’t work. All they need is a modern approach and seasoned experts.
Need help with brand building and audience engagement? Email us at email@example.com to connect with top growth marketing experts.
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Note: This is the updated version of the blog! Original published in 2018. Includes updated insights from 2020