The digital marketing environment is a complex bubble now with frequent trends and advancements, making marketers feel more and more confused and skeptical. B2B Growth marketing is a management approach that takes data from campaigns and conducts ongoing testing for the growth of organizations.
The pressure is on marketers to understand customer data and then use it to tinker and run tests on their campaigns to find out which ones are effective. Targeted customers are always marketed by growth marketers, the approach is analyzed and then targeted customers are marketed again.
What is Growth Marketing?
B2b Growth marketing is an ongoing process of collecting information and data from campaigns and is always about trying and testing for marketing growth. It operates to extend the customer relationship beyond the selling and purchasing situations to search for additional customer retention and customer advocacy.
What distinguishes growth marketing is its focus on generating value throughout the entire pIQ pipeline for customers. With the approach mentioned above, opportunities to improve different touch points within the funnel, from the acquisition and activation stage to the retention and referral stage, are also discovered.
Growth marketing can be considered much broader than conventional marketing as it targets not just the first touchpoints with potential customers. It applies A/B testing, customer feedback, and analysis to optimize techniques and provide more relevant services to attract the audience.
AARRR Framework and B2B Growth Marketing
AARRR model is an acronym for awareness, acquisition, activation, retention, and referral. The AARRR Framework or the Pirate Metrics Framework is currently a highly popular method aimed at describing and analyzing the customer journey. Created initially for early-stage companies, it fits perfectly in today’s B2B growth marketing where long-term lead generation and high-ticket sales conversion processes require diligence and direction at each stage.
All these metrics can help in a very efficient way to move people from the customer prospect to the customer and brand champion.
Awareness
Awareness also involves all the brands that it exposes to target customers to enable them to make informed decisions on the brands’ products and products with solutions. As for activities, it uses SEO methods, PPC, and web advertising in the stage. This stage aims to find many opportunities in potential prospects that can be swayed through content marketing mediums such as blogs, white papers, company news, etc.
Acquisition
The acquisition is about transforming customers’ interests into consideration and persuading them to take the next step in their customer journey. It makes certain that users who demonstrate interest are greeted with related offers and messages to avoid overwhelming prospects and make remembering information easy for those who continue their customer journey. It could involve a white paper or a software manual for permission to use one’s customer’s contact information or email address. Marketers always try to achieve the maximum number of signups or submission forms constantly.
Activation
In this stage, brands need to ensure customers are not only exposed to it but find out more about the brand. This is often the customer onboarding process that directs its attention to making the customer’s experience further and better. This includes notifications within apps and pop-up messages informing the customers of how to get the most out of their trial or demo base products.
Revenue
This step comprises all the activities that make the company generate its revenue, whether through subscribership of a product, an upgrade of the product services, or round-trip purchases. B2B Growth marketing strategies are important at these stages of the marketing funnel where marketers try different price models that appeal to the customer.
Retention
B2B Growth marketing is key at the retention stage where customers are encouraged to continue taking the subscription journey with the product. As a result, marketers keep looking for opportunities to continue and even build on the systematic rapture of customers through new features and reward systems or sticking with customers. This stage is where growth marketers aim for, as it provides them with the added convenience of not having to look for new customers to convert, as well as offering new opportunities to sell more to the converted.
Core Components of Growth Marketing
A/B Testing
Data-driven growth marketing helps marketers test and optimize marketing efforts with the help of campaign data to see which campaign type is bringing results. With the rise of digital marketing activities, brands can create almost multiple versions of every marketing effort, such as email, social media, and other content materials.
Marketers can create two versions of landing pages, one of which will focus on mentioning features and a text approach. Another landing page will focus on showcasing content more graphically.
Customer Feedback
Customer feedback feeds businesses’ digital marketing growth. Any brand looking to provide a customer-centric approach must know what their customer wants initially. There are multiple ways to gather data, such as through analytics sites and examining organic marketing performance.
Collecting customer feedback doesn’t end here. Marketers need to focus on qualitative information to get more helpful data. One must offer survey forms or customer feedback sessions via websites or email campaigns. This will give marketers insights to understand how customers are satisfied with product features and what they demand more from the product.
Multi-Channel Marketing
Marketing strategies are of no value when they are done in silos. B2b Branding should utilize multiple channels, such as email marketing, in-app marketing, and social media, to create brand influence on every possible channel and combine them to achieve a common goal: increasing Return On Investment (ROI).
By creating a presence on all channels, one can determine which strategy brings better results. For some customer segments, email messages are effective, and in some cases, SMS marketing provides better results.
Full-Funnel Focus
Growth marketing goes beyond the top-of-the-funnel activities and targets the entire customer journey, ensuring that every stage of the funnel contributes to sustainable growth. Here’s how each stage is approached:
Acquisition: Strategies to attract new users through paid ads, SEO, and partnerships.
Activation: Ensuring new users experience value quickly by highlighting key features or benefits of the product/service.
Retention: Retaining existing customers through loyalty programs, personalized content, and re-engagement campaigns.
Referral: Turning satisfied customers into brand advocates by incentivizing referrals or providing a seamless way to share their experiences.
Revenue: Maximizing revenue through upselling, cross-selling, and creating repeat purchase opportunities.
Closing Words
B2B Growth marketing for startups has proven a viable option for businesses. Since its crux focuses on retaining existing customer bases instead of acquiring new customers. In today’s marketing world, acquisition costs have become daunting for businesses, so businesses are shifting focus toward retaining existing customers and exploring upsell opportunities.
