Internet is a humongous place for data and with every day a new user getting access to the internet helps the marketing agencies not only to acquire customers but retain them. Now, the growth marketing has played an essential part in redefining the marketing goals for any business entity.
It is a known fact that acquiring a new customer to the base requires more effort and time and to retain and existing customer. So, the main agenda of the contemporary businesses is to provide elements of engagement to the customers so as to make them more involved with a particular brand. Now, in the digital economy, it has become much more important that a business re-define its goals every minute so that they can stay at par with the rivals. Since the birth of digital and e-businesses, the competition level has increased where in businesses of similar kind emerge every now and then, trying to make a deeper impact into the lives of customers. So, growth has tremendous value to the business entities more than ever.
As mentioned earlier, growth is not only about acquiring new customers but also to retain them. After all, growth without retention holds no value. So, the central idea of growth marketing revolves around attracting more engaged customers. By engaged customers, we mean the users who are actively participating in the transaction. Unlike traditional marketing that only focused on the top of the funnel holding major accounts, modern marketing is more concentrated towards creating high degree of engagement from consumers of all types.
Now, the question comes how to do it? We know that creating a user is easy but making them transact is a difficult tasks. This is why many businesses in the media industry have inaugurated the freemium model that allows the users to watch certain shows for free and then charge for the premium content.
But, is this model applicable to all? Take for example, a roofing leads website. Now you can’t offer first few purchases for free whereas the e-commerce websites do offer discounts and promotional deals to keep the consumers. However, there is another way of engaging the customer you want on your digital platform and this is a crucial part of digital marketing strategy.
Building a website or a mobile app is just not enough when it comes to modern day marketing. The most important facet of today’s consumerism is personalization. There are many people using a similar app but for different reasons and it is the duty of the marketers to identify the need and gauge on their interests. This need in the business environment has led to the establishment of various digital marketing agencies that help the businesses to integrate the data from users to provide a seamless and effective digital marketing strategy to engage the customers.
Now, there is a whole guide book of different digital marketing strategies that one can induce to yield desired results but as the technical hotshots suggest that it is a dynamic world. Thus, there is a high level of uncertainty on how consumers will react to certain campaigns. There is risk involved in the game and this makes the environment much more competitive.
It is quite usual to confuse a digital marketing strategy to a digital marketing campaign but if follow the simple pursuit, you can distinguish them. A strategy is the series of actions that you take to outline the goals and milestones for achieving that. On the other hand, digital marketing campaigns are the building blocks within the strategy that moves you towards the fragmented milestones.
As we steer clear of the basic terminology, we would like to focus more on the digital marketing agencies and their services. Below is the list of certain activities that are taken by the digital marketing agencies to help business achieve their goals.
Today, the reason that everybody is so involved with digital businesses is because of the plethora of information and data that the digital agencies process to provide the customers with valid products. This is the strength of the digital marketing and this is how it has established a great culture among the businesses. Based on the cookies that a user accepts, the marketing agencies get data on the consumer behavior and simultaneously personalize the campaigns.
For instance, if you have searched for a trimmer online on any e-commerce websites, the agencies will receive a notification stating your wants. Depending on the various features like the brands, price, make, etc. you will figure out that there are different ads popping up in the different sites you visit that calls for action. It indicates that the marketing agency knows your requirement and is showing you the products that you will be interested in. Moreover, one can also get personalization in mobile apps. Based on your searches, the mobile apps send you notifications regarding price fall or limited availability. This increases the degree of engagement of the consumer with the business.
Other forms of engagement include market survey, tracking digital footprints, and purchasing behavior or patterns of the consumer. The power of this digital marketing strategy helps the business to retain the existing customers visiting for a repeat purchase and thus, helps in attaining the growth. So, the growth marketing technique not only focuses on having the higher market share but also on rattling a deeper market penetration.
So, we have learnt about the difference between digital marketing strategy and campaigns and the technical definition of growth marketing. We have also learnt about the various services provided by a marketing agency and how it caters to the needs of both consumers and businesses.