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How Growth Marketing Strategies Can Improve Your Conversion Rates

Most marketers who want to boost conversion rates follow the same old marketing strategies. But there are many growth marketing strategies that can give you a competitive edge, like incorporating Facebook ads into your marketing, leveraging content to increase customer loyalty, and improving your customer retention with free digital downloads.

In this post, I'll share why growth marketing matters and a few ways you can apply it to grow your own blog or business.

Growth Marketing Defined

Growth marketing is the process of marketing a product or brand, with an emphasis on rapid customer acquisition and enhanced retention rates.

Unlike traditional marketing, this approach focuses on experimentation and data to quickly alter campaigns. Growth marketers often try a combination of marketing strategies to see what works best. They then scale up a winning campaign to generate growth fast.

Things to Consider for Your Own Growth Strategy

Having a growth marketing mindset is important if you want to give your business's growth a kickstart. However, this doesn't mean that you throw everything at the wall and see what sticks.

A well-designed growth marketing strategy can generate more traffic, leads, and sales. So when planning your marketing, ask yourself the following questions:

  • What kind of business do you operate in? Are you in the B2B or B2C sphere? Do you sell physical goods or have a SaaS business? Different domains will determine what kind of marketing tactics you'll use

  • What channels do you frequently use that work best for your company? Do you have a lot of social engagement on Twitter or on industry forums? Or do you get the best results from email marketing campaigns?

  • What are you trying to accomplish? i.e. think about specific KPIs like newsletter subscription rates, sales, form completion rates and more

  • Does your company culture support experimentation and data analysis? If the answer is no, then you need to share the idea behind creating growth marketing across the board. The people who support it, the more ideas you'll get and the easier it'll be to carry out

By asking these questions, you'll start to narrow down exactly where you should focus your marketing efforts. And you'll be able to come up with clever ideas that target your audience in the right way.

3 Tactics to Boost Conversions

Let's look at three examples of growth marketing campaigns that you could use.

Create social proof through testimonials

Testimonials are a great way to increase conversions because they provide social proof that your product can be trusted. The key is to automate getting testimonials, reviews, and rating so that it's convenient for users to leave feedback.

You could give users loyalty points when they leave a testimonial or feedback (whether it's positive or negative) or create an email drip campaign that automatically launches after your product has been consumed.

With a solid setup to gather feedback, you'll improve sales and other important metrics. Social proof is a powerful way to build trust and it boosts your brand image too.

Use a countdown timer

FOMO or the Fear of Missing Out is a classic marketing strategy that can take modern forms thanks to technology. And the use of a countdown timer is a perfect example of leveraging FOMO to drive conversions.

You can add a countdown timer to your email content, on your website, in an optin popup, or on social media. By using a countdown timer in your campaigns, you'll create a compelling reason for people to buy from you right away.
An example of a countdown timer created with SeedProd

Gamify actions you want users to take

Dropbox had a brilliant growth marketing strategy where it gave new users additional storage when they took certain actions. Namely following the brand online and sharing Dropbox's content with their peers. 
3 dropbox-growth-hacking-strategies
In this way, the company gamified the act of promoting their company and they quickly became a widely used tool around the world.

These are just a few examples of growth marketing strategies. The takeaways are that you need to leverage different types of tools and tactics to boost conversions. Then look at the data and see what combination of content, tools, and strategies is giving you the best results. You then quickly leverage this winning combination to drive overall business growth.

Conclusion

It's important to remember that growth marketing is a reiterative process. You'll need to keep studying your data and discard campaigns that don't work and scale up what does.

You may also have to revisit different steps of marketing campaigns to see what needs adjusting.\
As you keep trying out different things, you'll develop a good idea of what works and what doesn't. You'll build your skills as a marketer

and develop a depth of understanding about your business that will help grow it fast.

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