Although growth is the bottom line for every company, it is never a straightforward process. You need to be constantly adapting to the ever-changing technologies and environment, learn, unlearn, and relearn things, and get creative as what you’re certain will work might not work at all.

Growth marketing is the process of using data gained through marketing campaigns and experimentation to drive growth. It can help you anticipate change and plan your strategies to make constant improvements.

Growth marketers are always analysing data and feedback on what’s working and what isn’t. When done correctly, growth marketing can help you expand and retain your customer base. Notably, companies investing in growth marketing rarely focus on a single tactic.

One of the core pillars of growth marketing is constant experimentation. This means you’re likely to use a number of different strategies throughout the years to learn more about which campaigns are most likely to engage and convert your audience. The second you get data, no matter how low the numbers are, it is a step forward as you will then know what is or isn’t working for your company/ brand.

Here are 7 growth marketing strategies we believe in to expand your brand in 2024:

1. Influencer Marketing

Influencer marketing helps you build an expert community around your brand and fuels trust. An influencer is a person with the ability to influence potential buyers of a product or service by promoting or recommending the items on social media. They usually have a large following and their followers often look up to them. With the help of influencer marketing, you can build a strong community around your brand. The experts can help you promote your new products and content by mentioning them on their blogs and social media channels.

These benefits include increased visibility and reach, authenticity and credibility, access to new audiences, cost-effectiveness, improved engagement and conversions, boost in brand awareness, increased social media presence, increased organic traffic, increased brand loyalty, and opportunities for cross-promotion and collaboration.

2. Social Proof

Touching on the point above, social proof in your growth marketing strategy makes it easy for customers to make intelligent purchases, using reviews, quotes, and testimonials to guide them. Aside from influencers, you can generate social proof in a range of ways, from using branded hashtags to encourage user-generated content to recruit brand ambassadors and influencers to work with your company.

3. Disruptive Marketing

As the name suggests, disruptive marketing is loud and can be risky. You are looking for ways to market your brand that have never been done before. You need to be thinking outside the box, rather than sticking to the status quo. Although risky, if the marketing pays off, your brand will be the talk of the town and help you remain competitive. Eventually, your success may even turn into mainstream or traditional marketing practices over time. But, as mentioned before, success is not guaranteed – if fails, it comes with the nature of innovation. Disruptive marketing strategies usually come as a direct result of technology innovation. As we get new forms of communication, like social media or direct response channels, new avenues open up for marketing tactics nobody has ever used before.

4. Event Marketing

By creating events that resonate with your audience, you can better engage them and build stronger relationships that drive growth for your business. You will end up attracting like-minded clients/customers and start to bond a strong relationship with them. In turn, long-term loyalty is rewarded. Events provide a unique opportunity for your audience to interact directly with your brand. Attendees can engage with your products, ask questions, and experience your brand personality firsthand. In the best-case scenario, events serve as powerful lead generation engines too. By strategically designing event experiences and incorporating interactive elements, you can capture leads and nurture them through the sales funnel. The personal connections forged during events often result in higher conversion rates. Even if you don’t make a sale, grabbing lunch with connections or expanding your professional network will serve you well down the line. When attendees are in the market for the products or services you offer, they’re more likely to think of you if they have a memorable, positive experience with your brand.

5. Helpful Chatbots and AI Assistants

Chatbots and AI-powered assistants are essential tools for providing real-time support to your customers. These automated systems can answer questions, guide customers through their journey, and provide assistance 24/7. You can integrate chatbots into your website, social media, and messaging platforms to offer:

• Real-Time Support — Chatbots can instantly address customer inquiries, ensuring that users receive quick responses and solutions to their problems, day or night.
• FAQs and Information Retrieval — Chatbots can retrieve information from your knowledge base, providing users with instant access to product details, pricing, and support resources.
• Customised Recommendations — AI-powered assistants can offer personalized product or content recommendations based on users’ preferences and behavior.

Chatbots and AI assistants provide round-the-clock support, enhancing customer satisfaction and making sure that no question goes unanswered. As there is no need for human customer support, time will be saved as there will be no need for training, and costs are minimal as you do not need to pay someone for their work. In addition to this, chatbots provide consistent answers to frequently asked questions, ensuring that all customers receive accurate information. Another benefit of using AI chatbots is that it allows you to collect data effortlessly. AI-powered assistants collect valuable data on user interactions, which can be used to improve your products, services, and marketing strategies. As your business grows, chatbots can easily handle increased customer service demands without the need for significant expansion of your support team.

To conclude, with every growth marketing strategy mentioned above, business leaders should be able to not only increase their access to new customers but retain more of their existing buyers. However, it’s important to remember that growth marketing requires consistent work. With growth marketing, you don’t just implement a campaign and then review your results several months later. You need to be committed to constantly collecting data from every campaign and experimenting with different strategies.