Growth Marketing (or Growth Hacking) for International Companies

Growth marketing (or growth hacking) for international companies

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Competing and being successful in the international business landscape is not easy. Every year the competition grows, while marketing trends and customer preferences keep changing. How do you stand out from the competition? How do you make sure that you spend your marketing budget in a way that enables your company’s success?

Growth marketing (also often referred to as growth hacking) is the answer to this important question. It is a popular method combining online marketing and lean startup principles. Growth marketing is like marketing 2.0, optimised for and adjusted to the needs and speed of the modern digital and tech-driven age.

What is growth marketing? How does it differ from traditional marketing strategies? And how do you design, implement and execute a successful growth marketing strategy? Read all about it in this “Ultimate guide to growth marketing for international companies”!

Index of Growth Marketing Topics Discussed in This Article

 

What is Growth Marketing?

Before we delve deeper, we have to define what growth marketing actually entails. Everybody wants to be a growth hacker these days, but not every marketeer or company properly understands the key elements and scope of the term.

The term “growth hacker” was coined by entrepreneur and startup advisor Sean Ellis in 2010. In time, many marketing experts started to prefer and use the more favourable term “growth marketeer” to illustrate that growth marketing is not a set of tips and tricks, but rather a systematic approach to finding opportunities for sustainable commercial growth. Growth marketing can be seen as a subfield of marketing specifically aimed at achieving rapid growth. The method is both a process as well as a broad and varied set of generic and specific cross-disciplinary skills. Growth marketing builds on existing and traditional marketing tactics, but it adds extra layers to the process.

Examples of commonly growth marketing tactics are:

  • A/B testing to improve customer journeys and test various marketing strategies alongside each other.
  • Creating and posting value-additive content, such as inspiring or informative blog articles, podcasts, infographics, whitepapers, and vlogs.
  • Data-driven marketing campaigns. These allow you to personalise ads and product suggestions and tailor them to the needs and preferences of your potential customers.
  • SEO and SEA optimisation (search word analysis, strategically using important keywords on your website and in your content streams) to improve your company’s visibility on the internet.
  • Technical analysis of all the aspects that build the user’s experience.

The insights gained from the aforementioned tactics are quickly implemented in order to achieve robust and sustainable growth. You could say that growth marketing breaks down the walls between data analysis, coding, and conventional marketing. Growth marketing has a more experimental, data-driven and innovative character than most traditional marketing methods and strategies.

It aims to add value to the entire marketing funnel (traditional marketing usually focuses on attracting traffic to the top of your sales funnel) by attracting users, engaging potential customers, retaining them and, in time, turning them into loyal advocates for your brand, services, and products. While the exact methods vary from company to company and from one industry to the next, the common denominator is always growth.

The Main Goals of Growth Marketing

The concept of growth marketing is geared towards achieving a number of important commercial goals. Let’s take a closer look at them.

Boosting Traffic

Boosting traffic numbers is an important element and goal of growth marketing. This can be done in a variety of ways. To improve organic traffic numbers, growth marketing focuses on all the things that will give you a higher ranking in the important search engines (mainly Google, but to a somewhat lesser degree, Yahoo! and Bing). Sharing quality content, link building, and thorough keyword research are ways to achieve this.

Growth marketing also pays attention to paid traffic. This consists of the users who discover your site or online store via your advertising channels. Another source of traffic worth considering is referral traffic (social media traffic, people who find you via other sites linking to your content).

Getting Leads and Increasing Conversion Rates

Once you have built a steady stream of traffic, growth hacking should be all about getting leads and improving conversion rates. After all, hordes of (new) visitors don’t mean a lot if you aren’t able to convert them into leads and new users. The key to lead generation and conversion rate optimisation? Eliminate drop-offs and bounce ratios and improve landing page conversion rates, but also produce quality content that people actually want to read.

Retaining Customers

Retaining customers is another major goal of growth marketing. You can do this by reducing churn (users who sign up for your service but eventually stop using it), increasing the average order value, and boosting the lifetime value of your customers.

Building a Strong and Recognisable Brand

The ultimate goal and desired end result of growth marketing? Turning your company into a trusted, reliable, and sought-after brand that is synonymous with quality in your particular industry or market niche.

The Growth Marketing Process: A Step-by-Step Guide

Although the exact shape that growth marketing takes can vary per industry, organisation, or even product or service, it is a step-by-step process that follows a certain methodology. Time to dissect the growth marketing process.

The Essential Traits of a Growth Marketing Mindset

Building a growth marketing culture requires a certain mindset. What are the necessary traits that a growth marketer has to possess if he/she wants to make the most out of this marketing strategy?

The Benefits of Growth Marketing

Growth marketing done well has several short-term and long-term business benefits. Let’s take a look at the most important ones.

Classic Examples of Growth Hacking

Many well-known companies and innovative startups have been hugely successful in developing and implementing growth marketing strategies. Time to look at a couple of inspiring examples.

Achieve Continuous International Growth, Too!

At first glance, achieving growth can appear to be a daunting task. You might think that building and scaling a product or service from scratch requires the help of huge teams and expensive marketing gurus. This guide proves the opposite: with the right approach and dedication, growth marketing provides excellent branding opportunities for virtually every company.

Silkdrive supports corporates, scaleups, and startups to expand internationally through means of localised digital growth marketing. We support European companies that want to expand in the fast-growing markets in Asia (China, Japan) and vice versa. Do you want to achieve continuous growth? And could you use the services of a partner that helps you develop and implement localised growth marketing strategies? Then don’t hesitate to contact us!