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Before we dive in, let’s get one thing out of the way: THIS IS A TOPIC.
And that’s because the word that usually follows growth is .
And for whatever reason, makes people feel a certain type of way.
But we aren’t here to talk about hacking or shortcuts.
We’re here to talk about a lovable form of growth:
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Over the last few years, growth marketing has helped re-define the goal of marketing.
It’s changed the way that marketers think about driving demand and creating successful customers, instead of only thinking about the top of the funnel.
Growth marketing is removing the boundaries of marketing to enable every aspect of the customer experience to focus on attracting more engaged customers. Former CMO Founding Team Member HubSpot @mvolpe
Founder & CEO GrowthHackers.com First Growth Marketer at Dropbox @seanellis For meaningful growth, startups must completely change the rules of traditional channels or innovate outside of those growth channels. They are too desperate and disadvantaged to adapt to the old rules of marketing. They have to dig deep creatively, and relentlessly test new ideas. If they don’t figure it out quickly, they will go out of business.
Finance owns the flow of cash in and out of a company. Growth owns the flow of customers in and out of a product. VP, Growth Wealthfront Previously at Facebook, Twitter & Quora @ibringtraffic
Growth starts with a deep understanding of product value and is about moving new users to the Aha! moment as quickly as possible, measurable in seconds. CEO Social Capital Led Growth at Facebook from 2007-2011 @chamath
But here’s the difference from traditional marketing.
Growth marketers think about the entire funnel http://www.coelevate.com/essays/growth-vs-marketing-vs-product
vs. traditional marketing organizations that are focused only on the first two layers http://www.coelevate.com/essays/growth-vs-marketing-vs-product
Because growth without retention is not growth.
Retention is the single most important strategy for growth.
If a typical SaaS business loses 2-3% of their customers each month to churn, the business must grow by at least 27%-43% annually just to maintain the same revenue. http://tomtunguz.com/churn/
Good growth teams care about driving acquisition. Great growth teams care about acquiring users who will stick around. Content Marketing Lead Pinterest @anniekatrina
“Growth Marketers are fearlessly creative, willing to measure everything, be able to admit failure, get sh*t done, but never say it’s done.” https://blog.optimizely.com/2014/11/19/what-does-it-mean-to-be-a-growth-marketer/
And they have a knack for intentionally not doing things just because that’s “the way they’ve always been done.”
But at the end of the day, growth is the job of every employee in the company.
And this shift is inevitable for every business.
Because in the future, all businesses will start as or transform themselves into growth machines.
And thinking the way that companies like Facebook, Dropbox, and Uber did in their early days will become the norm.
Marketers will still be focused on the best ways to get customers interested in their products, but what will change is how they go about doing so.
(At one point in time, things like email, SEO, social, etc. were considered “ ” by traditional marketers.)
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