As a CEO you are likely focused on increasing your company’s net earnings, profit, income, and earnings per share while increasing efficiency and cutting costs. As you know, your bottom line relies on a number of elements coming together, such as marketing, sales, creative teams, and experimentation. This is where the Growth Marketing Stack can be your biggest ally.
Experimentation? Your team has likely come to you seeking approval to try various tactics designed to achieve your organization’s goals. But your neck is on the line because if it results in a flop with a massive loss in man hours and funds, you are accountable. This is often why the C-Suite hesitates in trying new things; the risk needs to be low enough, the plan needs to make sense, and there needs to be an option for a quick bailout.
2019 is going to be the year of the Growth Marketing Stack. Top marketing companies are more dialed in than ever before when it comes to offering solutions that make sense for executive teams. This article is intended to help CEOs learn about the customized stack of technologies and strategies offered by the best growth marketing agencies, and why a Growth Stack is virtually-risk free and the ultimate solution to meet the needs of most growing businesses.
First, What is a Growth Marketing Stack?
A Growth Marketing Stack is a set of technology-driven tools and strategies laid out in a customized manner to synch up and work together towards achieving the same goals. Growth Stacks focus on every section of your funnel to drive, nurture, and convert traffic. An advanced CRM is at the Growth Stack’s core in which digital marketing experts can monitor progress, collect data, and make last minute changes when required to stay on track to hitting various growth goals. Growth stacks don’t just increase sales; it also reveals cost-cutting and efficiency opportunities not offered in traditional marketing plans.
Growth Marketing Stacks Reduce Spend While Increasing Profit
What is your bottom line reporting could reveal that you reduced spending by 36 percent in a year while increasing profits by 24 percent? It’s not an impossible scenario because this is an average figure representing our Growth Stack clients.
Powerful CRMs like HubSpot don’t just manage content; they reveal engagement and conversion metrics with full transparency. When it comes to traditional marketing, Google Analytics is used in SEO, paid media, and social media marketing to see engagement volume. However, there is no way of knowing who these people are, where they came from, and what journey they took in the conversion process. Obviously, knowing this information would help marketing teams optimize the strategy for greater efficiency while directing funds to the appropriate channels.
The Growth Marketing Stack does just that. It reveals data on your visitors and customers such as their names, where they came from, and shows the various touch points and pages they visit before making a purchase (or before they bounce without buying). With in-depth data like this, growth marketing agencies can discover which pages convert the most, which ones fail to convert, and find commonalities in multiple pages of content to make the necessary optimization to increase leads and conversions. This information also lets marketing teams know where to direct your financial investment, and what percentage, to various channels to maximize profit. This data can also reveal opportunities for reducing the marketing budget while still hitting the target growth goals.
CRMs commonly used in Growth Marketing Stacks like HubSpot produce data that can be used to improve individual strategies. For example, if you are investing in search engine optimization, you can improve your SEO by understanding search intent from studying the buyer’s journey and lead profiles.
Get a Deeper Understanding of Your Target Buyers
Ultimately, your bottom line depends on your buyer audience. This means your products and services need to stand out as the ultimate solutions to buyer needs. But when you only have vague data and assumptions, audience-targeting can fall flat.
We already mentioned that Growth Stacks reveal intimate information on your buyers. Let’s dive into this a little deeper, as this alone is the MAIN REASON companies invest in growth marketing agencies.
The buyer’s behavior is tracked from the moment they click your link to the time they make a purchase, or bounce to a competitor’s site. CRMs like HubSpot allow marketing teams to qualify sales and marketing leads, and segment them according to a number of factors that often include industry, stage in the buyer’s journey, buyer persona, and their job role.
Each lead group has already been clearly identified at this point. At this point the marketing automation piece of the Growth Stack kicks in and sends personalized content set at a predetermined cadence nurturing leads until they become customers. Very few internal hours are spent here, as everything is automated and only requires monitoring. This is the best way to lower your CPA and invest hours into other areas of your marketing to maximize growth. Again, all of this is deeply rooted in understanding your customers, and without the Growth Stack you are left to the mercy of guess work and data that plays little into increasing sales.
Growth Stacks Improve All Arms of Your Marketing
Utilizing a Growth Stack leverages and empowers other areas of your marketing strategy like paid media and SEO thus enriching your investment. For example, when marketing teams are able to execute an SEO strategy based on user intent and intimate details on your buyers, not only will you see an increase in organic traffic, but the quality of that traffic will be significantly higher. Now your SEO strategy includes optimizing content that provides a solution to a direct AND KNOWN pain point; content can rank for specific buyers thus leading to an increase in CTR and conversions whereas before content ranked around broad keywords with minimal focus.
Download the Growth Marketing Stack Guide to Learn More!
Now you have a basic understanding of how valuable a Growth Stack can be for your bottom line. Want to learn more? Download this FREE guide on Growth Marketing Stacks, and if your interest peaks give us a call so we can learn more about your organization, goals, and see if there is a potential fit.