As reported on GrowForce:
“#2 Two different approaches.
Traditional marketing
If you want to spend larger amounts and get high exposure on platforms like TV, billboards, city squares or Youtube Masthead, then traditional marketing is excellent for you.
Traditional agencies always aim for maximum awareness with the most creative ideas to attract prospects. But most of the time they don’t have a clue about the actual results.
The nature of traditional platforms doesn’t allow marketers to measure the effectiveness of campaigns. They don’t have the tools to analyze metrics like ROI right away.
Also, campaigns are quite long-winded. Many big brands run one or two campaigns throughout the year, and that’s all.
Growth marketing
The goal of the growth marketer can be anything from product development to all the way referral campaigns.
The core mentality of growth marketing is experimenting. Growth marketers often set multiple small but potent experiments (also called hacks).
These are short-winded (one week to a month) runs to measure the results. The purpose is to understand which experiments bring the most conversions to the table.
Then they could determine to scale kill or pivot the experiments. Growth marketers can be creative too, but the growth metric always comes first.
One thousand people saw your viral video, wow that’s cool.
Did they sign up for your services? No.
Then it’s not cool because your growth metric is not views but sign-ups. That means you’re not reaching the right people and the experiment has failed.
”
Source: GrowForce
Author:
Date: 2020 07 28
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