Most brands today will have an online presence, be it through a website or a social media page. But is that enough to succeed amidst today’s rapidly changing market scenario and customer expectations?
The answer is, of course, NO!
Today, brands are expected to do much more than simply exist online. They need to go beyond traditional marketing tactics like mass targeting, generalised communication, email blasts, and waiting for conversions. With constantly increasing competition, shifting customer expectations, and limited marketing budgets, brands need a powerful approach that will help them attract and retain customers more effectively.
That's where 'growth marketing' comes into the picture.
Through growth marketing, brands can attract, engage, nurture, and retain their customers by incorporating their unique motives and preferences. It allows them to deliver highly-personalised communications for their customers to attract and retain them across different channels.
Growth marketing helps experiment with different channels and strategies and allows brands to optimise their campaigns to determine how to best utilise their online marketing funds. While that’s true, it’s essential to have the right growth marketing partners who can help expand your brand's customer base quickly and cost-effectively by using innovative technology-backed techniques.
Traditional Marketing vs. Growth Marketing
Growth Marketing goes beyond traditional marketing in several ways. Let’s take a look at them below:
1. Integration Of Technology & Marketing
2. A Comprehensive Funnel Approach
3. Smaller Experiments For A Faster Go-To-Market
Your Ideal Growth Marketing Partners
If you are in search of the right growth marketing agency, we at Amura Marketing Technologies can help. Being the pioneers of Growth Marketing in India, we have cracked the code of designing successful growth strategies for our clients and helping them achieve their business goals faster and more efficiently.
In this article, we have elaborated on our proven Growth Marketing Approach along with some essential growth marketing aspects that need to be considered. So, let’s delve right into it!
Amura’s Proprietary 7-step Growth Framework
1. Understanding the Conversion Funnel using Pirate Metrics (AAARRR): -
To effectively improve growth, we take into account the entire customer journey and map the stages of the funnel which need improvement or where the client may be losing customers. For this, we leverage Pirate Metrics (Awareness, Acquisition, Activation, Retention, Referral, Revenue), which is a framework that provides a clear understanding of the entire funnel and helps us identify the different stages where there may be opportunities for improvement.
2. Pick Areas of Focus: -
Once we have a clear understanding of the entire buying journey, we pick the areas that require the most attention. For instance, if we notice that the majority of customers are dropping off at the activation stage, we will focus on improving the onboarding process. Similarly, if we see that there is a high customer churn rate, we will focus on improving the retention stage. The goal is to pick the areas that have the most significant impact on growth.
3. Brainstorm Experiments: -
Once the areas of focus have been identified, our team brainstorms and comes up with various experiments and initiatives that can be run to improve these areas. The goal of these sessions is to come up with a diverse range of ideas that can be tested on a limited budget and find the ones that give the best results.
4. Prioritise Ideas for Experiments: -
Not all ideas are equal, and it is essential to prioritise which ones to test first. Our prioritisation is based on a variety of criteria, such as potential impact, resources required, feasibility, and potential ROI. Our team then weighs the pros and cons of each idea and chooses the ones that are most likely to provide the biggest impact with the least amount of resources.
5. Device Hypothesis for Experiments: -
Each of our experiments is based on a clear hypothesis that outlines the expected outcome and why the team thinks that it will work. The hypothesis is based on data and insights and is testable. The goal is to create a clear and specific hypothesis that can be validated or invalidated through testing.
6. Run Controlled Experiments: -
Once the hypotheses have been developed, we run experiments in a controlled setting. The experiments are designed to test the hypothesis, and the results are tracked and analysed. This involves creating test groups, running experiments, and measuring the results to determine the impact of each test.
7. Scale the Winning Experiments and Drop the Others: -
Based on the results of the experiments, we scale the initiatives that have proven to be successful and discard the ones that didn't work. Scaling requires careful planning and execution to ensure that the changes can be sustained and have a long-term impact on growth. The goal is to create a feedback loop where successful experiments are scaled, and unsuccessful ones are discarded, leading to continuous improvement and growth.
Three Key Focus Areas
At Amura, we focus on 3 key areas to drive the most benefits out of Growth Marketing for our clients. These include:
1. Focus not just on getting leads but increasing revenue: -
Our growth marketing approach doesn’t just focus on acquiring new customers but also on increasing revenue from existing ones. By focusing on revenue growth, we identify and target high-value customers, personalise their experiences, and offer them relevant products or services that meet their needs. This approach involves analysing customer data to identify cross-selling or upselling opportunities, optimising pricing strategies, and creating effective sales funnels that convert leads into paying customers.
2. Experimentation to optimise ROAS: -
Return on Ad Spend (ROAS) is a critical metric in growth marketing. To optimise ROAS, we constantly experiment with different strategies to improve campaign performance. This involves testing different targeting options, ad creatives, messaging, and landing pages to determine what works best for the audience. By experimenting and testing, we identify the best-performing strategies and allocate resources to campaigns that have the highest ROI.
3. Focus on retention (CLTV): -
Customer Lifetime Value (CLTV) is a measure of the total value that a customer brings to a business over their entire lifetime. For this, we focus on customer retention. This involves identifying and targeting high-value customers, creating personalised experiences, advising clients to provide exceptional customer service, and offering loyalty programs and incentives that encourage repeat purchases. By focusing on retention, we improve customer satisfaction, reduce churn, and increase CLTV, leading to sustainable long-term growth.
Case studies -
Our targeted Growth Marketing experiments have helped achieve some phenomenal results for our clients. Check them out!
iVOOMi, a Made in India EV manufacturer, wanted to promote their EVs primarily in tier 2 and tier 3 cities. For this, Amura designed a 360-degree growth marketing strategy that was implemented through social media and paid campaigns, leading to some path-breaking results.
- 50% increase in social media engagement and likes
- 15,000+ website visits during the campaign duration
- 3,200+ leads generated in 30-45 days from the targeted locations
- 1000+ test rides conducted within 45 days
- 350+ vehicles sold digitally
- 0.7% ACOS achieved
- Increased revenue generation through assisted conversions
Established in 2012 by IIT Bombay graduates, Atomberg Technologies produces Gorilla Fans - technologically advanced ceiling fans branded as “India’s Most Energy-Efficient Fans”. Amura created a customised growth marketing strategy for Atomberg Technologies to improve their brand awareness, pitch them against well-established brands, and reduce their lengthy buying cycle.
- 246% revenue growth
- 15% advertising cost of sales
- 40% increase in the e-commerce conversion rate
WPU RISE, an innovative, Edtech platform, wanted to promote their hackathon “GET SET HACK” with a target of filling out 12,000 forms within 30 days. Amura helped them exceed their target with a comprehensive MarTech stack and a strategic Growth Marketing approach.
- 14,076 forms filled in 30 days
- 50% lesser budgets used
- 13X increased CTR
- Rs. 70.61 cost per form filled
Final thoughts -
Growth marketing can help transform both B2B and B2C businesses digitally. While there is no one-size-fits-all approach to growth marketing, it is essential to take measured steps and collaborate with a team of marketing experts specialising in growth marketing.
At Amura, through our data-driven MarTech solutions and full-funnel performance marketing agency approach, we ensure that your brand gets a digital edge with growth marketing. With over 15 years of experience, an on-time delivery record, extensive market understanding, agile processes, and a team of 150+ digital marketing experts, we can be your ideal digital transformation partners. Ready to leverage growth marketing for upscaling your business online? Get in touch with us today!