Growth marketing is when businesses focus on strengthening customer loyalty and produce brand materials aimed at expanding their position within a particular market.
All good marketing has a goal. Some materials are designed to attract new customers, while others are built to promote a specific product launch. Growth marketing can include both — and much — more, all to achieve the business’ goal of expanding its position within a market and boosting revenue.
Brands that use growth marketing initiatives typically focus on building and strengthening customer loyalty, knowing that repeat customers who recommend the brand to others are key to market growth. These brands set clear goals for each of their marketing materials and campaigns, including increasing conversion rates, driving repeat purchases, and improving customer testimonials.
But focusing on existing customers isn’t all. Growth marketing involves expanding revenue and market share by attracting and retaining new consumers. Many brands accomplish this by using an omnichannel approach to drive traffic across their social media platforms, websites, email campaigns, and mobile apps.