Growth marketing isn’t simply a new tool or strategy. It’s a fundamental shift in the way we drive demand – an all-encompassing way of doing business that focuses on the buyer, aligns tightly with sales, and measures each channel’s contribution to revenue.
Growth marketing allows marketers to fuel organizational growth and prove their contribution to the bottom line, by optimizing only the programs that help the organization reach its goals.
That means working with sales to understand their priorities, agree on best-fit audiences and define lead quality. It means staying involved in the buyer’s journey and staying engaged throughout the lead qualification process right through to purchase. It means arming sales with the tools they need to close deals and build long-term relationships with customers. And it’s about measuring which strategies, tactics and channels deliver the biggest return on investment.
Growth marketing still revolves around social media, digital advertising, content strategy, inbound marketing and other newer concepts, but when every touchpoint is held accountable, priorities, resources and budgets shift. High performing tactics can be optimized and underperforming ones can be eliminated, allowing investment to flow to specific components of your growth marketing strategy that has the most impact on revenue.
3 reasons you should care about growth marketing
1. Nearly 70% of CEOs think CMOs should lead revenue growth.
When marketing becomes a revenue center rather than a cost center, it secures a place at the leadership table. CEOs now expect more from their marketing team than simply identifying top of the funnel opportunities. The pressure is on to step up by driving demand and keeping customers engaged, happy and opening their wallets. You can turn marketing into a strategic asset by expanding your team’s responsibility to cover all stages of the buyer’s journey, from acquisition to expansion and retention.
2. You get more budget when you prove the ROI.
Walking into the boardroom armed with facts instead of vanity metrics and activity reports makes the leadership team sit up and listen. Growth marketing gets at the real story by testing, tracking and measuring everything – through A/B testing, attribution, analytics, optimization and more. Being able to allocate marketing spend with precision and purpose, and prove ROI rewards those who take ownership for the entire customer experience – with larger slices of the corporate budget pie.
3. Owning it earns R-E-S-P-E-C-T.
Building a great working relationship with sales is no simple task, but when you do, it pays off handsomely. According to research firm SiriusDecisions, highly aligned organizations achieve 19% faster revenue growth and 15% higher profitability. Embracing growth marketing by sharing revenue responsibility with sales can transform your career, earning you promotions, salary increases, and respect throughout your organization.