Growth marketing allows a marketing team to focus on the expansion of one aspect of their strategy. Marketers use testing to analyze specific metrics and come up with a hypothesis of how they can better those results.
The growth marketing process allows a team to:
- Determine which areas to improve
- Design hypothesis on how to better that area
- Carry out their hypothesis
- Analyze Results
- Conduct further tests as needed
Growth marketing focuses on the data side of marketing rather than the creative side. Using this data allows a marketing team to determine opportunities for expansion throughout the marketing funnel.
The above graphic allows you to visualize how growth marketing emphasizes expansion while monetizing on customer retention.