Growth marketing certainly isn’t new, but it still has a way to go before entering the mainstream vernacular of marketing lingo.
Our agency gets calls from CEOs all the time seeking digital marketing services, and one of the most frequently asked questions is “what is a growth marketing stack”? Once explained, half a dozen other related questions come up that range from “how does SEO, paid media, inbound and other strategies play roles in a growth marketing framework” and even questions like “can I achieve my growth goals by using SEO as a solo strategy”?
Whether you are a new WEBITMD Growth Stack client, or you simply stumbled upon this article looking for some clarity into what growth marketing is, our goal is to answer the questions you likely have while also helping you gauge whether or not it is the right strategy to help you achieve your business goals.
Defining the Growth Marketing Stack: What is It?
A growth stack is the Lamborghini of digital marketing approaches. Basically, a growth marketing stack is a carefully selected set of tools and strategies customized to work together in perfect synchronization to help organizations achieve their business goals. Growth stacks use a multi-channel approach to generating traffic along with a lead nurturing strategy powered by marketing automation technology to attract and convert higher quality traffic. A growth marketing stack is engineered on the foundation of your sales cycle alongside a deep understanding of your buyers and how they make purchasing decisions. The strategy is pieced together by multiple strategic department heads, and going through ongoing optimization as the data is collected and analyzed.
Common Strategies and Tools Used in Growth Marketing Stacks
Growth marketing stacks are designed using a number of buckets that include:
- Traffic generation (top of funnel)
- Lead nurturing (mid funnel)
- Conversions (bottom of funnel)
- Delighting customers / making them brand advocates
- Data collection and analysis for ongoing optimization
Each of these buckets utilizes tools and technologies to help serve a desired purpose. For example, most growth stacks almost always use SEO and paid media for top of funnel strategies to attract traffic and create leads. Then inbound marketing takes on the bulk of mid funnel legwork to nurture those leads and educate them into making a purchasing decision. However, SEO can also be used in growth marketing stacks for mid and bottom funnel strategies as well.
When it comes to tools, a growth marketing stack will have a CRM with email marketing capabilities, lead segmentation, high level data collection, and serve as a main platform where all marketing strategies can be managed and optimized from a single point of location leaving no room for leads slipping through the gaps or missed data. Growth marketing technology also helps marketers use data across all channels to leverage various components of the main strategy.
Is a Growth Marketing a Good Investment for My Business?
To really determine the value of a growth marketing stack you need to have an exploratory call with a growth marketing agency so they can examine your sales cycle, products, understand your customers, and past and current operations. Then, together, your goals can be examined in light of a growth marketing stack, and other strategic approaches to business growth.
In general, if you have a longer sales cycle, a higher price point, and your buyers tend to do a lot of research before making a purchasing decision, you are likely an ideal candidate for a growth marketing stack. If you have a short sales cycle, low price points, and your buyers tend to purchase your products on a whim, investing in solo strategies like SEO, or even a hybrid approach using SEO and paid media would be the better investment.
Learn About the WEBITMD Growth Stack, Download the FREE Guide Below
Go ahead and read through this guide that goes into more depth on our custom growth marketing stack and see if the approach makes sense for helping you achieve your business goals. Then give us a call and, together, let’s explore the different options you have when it comes to investing in a modern marketing strategy best suited for your needs.