What is Growth Marketing | Explained in 10 Minutes

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I took on a fun challenge to summarize growth marketing in just 10 minutes, and in this video, I’m going to do exactly that!

🌟 What is Growth Marketing?
Growth marketing is full-funnel marketing, covering everything from awareness and acquisition to activation, retention, revenue, and referral. Unlike traditional digital marketing, which often stops at acquisition, growth marketing focuses on maximizing the lifetime value of customers.

🌐 Why Growth Marketing?
With the rise of startups, the focus shifted to lifetime customer value (LTV) and reducing customer acquisition costs (CAC). Growth marketing helps businesses maximize the value they get from each customer through various strategies and processes.

🔍 Key Concepts Covered:
⏺ Awareness: Making potential customers aware of your brand.
⏺ Acquisition: Converting awareness into customers.
⏺ Activation: Getting users engaged with your product or service.
⏺ Retention: Keeping users coming back.
⏺ Revenue: Maximizing the revenue generated from each user.
⏺ Referral: Encouraging users to refer others.

📊 Metrics and Processes:
⏺ North Star Metric (NSM): The one metric that best represents the core value your product delivers to customers.
⏺ Ongoing Metrics That Matter (OMTM): Specific metrics that help achieve your NSM, such as improving conversion rates or reducing CAC.
⏺ Lean and Agile: Borrowed from tech, these principles emphasize efficiency and quick execution in marketing strategies.

🚀 Growth Marketing Process:
⏺ Research: Understand your users and competitors.
⏺ Ideate: Generate ideas based on research.
⏺ Experiment: Test hypotheses and measure results.
⏺ Analyze: Validate or invalidate hypotheses.
⏺ Scale: Implement successful strategies broadly.

📚 Additional Resources:
If you want to dive deeper into growth marketing, check out my 30-day growth marketing course, which is completely free! Plus, grab my book "Mastering Growth Marketing" for an in-depth guide, complete with examples and visual aids.

Watch the video to get a comprehensive understanding of growth marketing and how you can start applying these principles to your business!

🔗 Related Links:

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Timestamps:
0:00 Introduction to Growth Marketing
2:33 The Definition
3:17 Lean & Agile
3:45 Concept and Examples of Metrics
5:16 The Process
9:14 Conclusion

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I’ll see you in the next video with more exciting content on growth marketing and beyond!