All marketing is focused on growth, however, performance growth marketing is specifically about gaining the greatest return on investment as quickly as possible, for both the short and long term.
The fundamental principle in optimising media investment is from day 1 to continually refine your plan through all channels to deliver better results.
Performance growth marketing is data-driven and experimentation-focused ensuring to maximise growth and minimise risk, including understanding the asset mix that best maximises the rate of user acquisition, activation, and retention. It’s about finding the most efficient ways to grow a business, through testing and iteration.The goal in mind of delivering the optimum return on spend is all driven through data and analytics.
Marketing teams generally gravitate toward tactics that compound over time rather than one-off opportunities.
A good example is a piece of well-written content that attracts and converts leads the day it’s published and from that point on. On the flip side, google ads require continuous financial investment.
They may produce leads when they are running, but that only lasts as long as the budget does.
Likewise, with other paid channels. They tend to get more expensive and less profitable over time. Even if you constantly adjust and tune your ads and targeting, there’s a ceiling to how much business you can drive with your budget. And when it’s spent, it’s gone
Growth marketing tactics and channels
Growth marketing tactics and channels revolve around content and using it to influence and deliver value in each lever of growth:
- Consistently published blog posts with CTAs leading to contextually relevant lead magnets
- SEO : Keyword search optimisation, and link building
- Automated and targeted email/SMS marketing campaigns to specific lists or contacts based on past behaviour
- Re-purposing and adapting content across social media, search platforms, and in different formats
- Creating lead magnets for use across cold, warm, and hot webpages on the website.
- Sales enablement content that helps move qualified leads through the sales process
“By continually tracking, measuring, adapting content and the overall plan can lead to strong incremental growth to drive the best outcome for your investment overall”
In thinking about performance growth marketing – here are some of the areas to consider in terms of the analysis.
Awareness: Focuses on traffic metrics like impressions, page views, time per page view, bounce rate, and top traffic sources. Identify pages that are performing well so you can reverse engineer them to figure out what’s working.
You can also break traffic down by page type and discover where traffic is coming from. i.e. direct, organic search, referral, social, and email marketing.
Acquisition: How many visitors turn into qualified leads? In that, they have opted in to hear from you or perform specific actions like downloading your lead content.
Conversion : Your conversion rate is the successful transition from one part of the buyer’s journey to another. Track conversion across multiple channels and see how many potential customers convert on your offers.
Revenue: A few metrics to track here are
- CAC (Customer Acquisition Cost): How much does it cost your business to acquire customers?
- Marketing ROI: The amount of revenue generated by a campaign compared to how much you spend on it.
- Customer Lifetime Value (CLV) : so you know roughly the total revenue your business can expect from a customer throughout their time using your product or service.
Retention: It’s no use if your marketing and sales can’t keep customers. Churn is normal, but it’s still important to track and minimise. Why are customers leaving? How much does it impact your revenue?
Reputation: Track your number of reviews, both positive and negative, your number of case studies, and your NPS (Net Promoter Score). Your reputation is everything.
By continually tracking, measuring, adapting content and the overall plan can lead to strong incremental growth to drive the best outcome for your investment overall.
