Over the last few years, growth marketing has helped re-define the goal of marketing.
Successful marketing is no longer only about the top of the funnel and acquiring customers — it’s about acquiring customers that are going to stick around. Growth without retention isn’t growth after all.
And growth is more important than ever: if a typical SaaS business loses 2-3% of their customers each month to churn, that means they must grow by at least 27%-43% annually to maintain the same revenue.
But what does growth marketing actually mean? And what does the role actually entail? How is it different from “regular” marketing?
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A Definition For Growth Marketing
Growth marketing is all about one thing: attracting more engaged customers.
And while traditional marketing focuses on the top of the funnel, and account-based marketing focuses on key accounts, the growth marketing job description requires focusing on the entire funnel.
As Wealthfront’s VP of Growth Andy Johns said: “if finance owns the flow of cash in and out of a company, growth owns the flow of customers in and out of a product.”
But to take things a step further, we pulled together this SlideShare deck to help explain growth marketing even further, featuring quotes from today’s top marketers — from Andy Johns to Mike Volpe (former HubSpot CMO, founding team), Chamath Palihapitaya (CEO, Social Capital), Sean Ellis and more.
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Not a fan of clicking through presentations? Here’s what’s inside of the SlideShare below:
1) Mike Volpe | Angel Investor & Former CMO, HubSpot: “Growth marketing is removing the boundaries of marketing to enable every aspect of the customer experience to focus on attracting more engaged customers.”
2) Sean Ellis | Founder & CEO, GrowthHackers.com: “For meaningful growth, startups must completely change the rules of traditional channels or innovate outside of those growth channels. They are too desperate and disadvantaged to adapt to the old rules of marketing. They have to dig deep creatively, and relentlessly test new ideas. If they don’t figure it out quickly, they will go out of business.”
3) Andy Johns | VP Growth, Wealthfront: “Finance owns the flow of cash in and out of a company. Growth owns the flow of customers in and out of a product.”
4) Chamath Palihapitiya | CEO, Social Capital: “Growth starts with a deep understanding of product value and is about moving new users to the Aha! moment as quickly as possible, measurable in seconds.”