Sawaram Suthar / 11 Mins Read
Updated: August 24, 2024
Ready to take your growth-stage company to the next level? Discover 10 effective marketing strategies to help you scale efficiently, balance customer acquisition and retention, and optimize your marketing channels for sustainable growth.
Are you a growth-stage founder who is interested in taking your marketing strategy to the next level? If so, you're far from alone.
At this point, you've probably figured out that promoting a growth-stage company comes with plenty of unique challenges. You need to learn how to balance keeping up with your business and existing customers while finding ways to reach new people.
Some business owners mistakenly think they can take a break from their marketing during this time because they're getting plenty of traffic and engagement. The truth is, you need to keep working at it because you need sustainable growth if you want to build on your success.
Today, I'm going to show you 10 actionable tips for growth-stage founders just like you. By the time you reach the end, you'll have a better idea of how you can navigate this exciting and vital phase of your journey.
Let's dive in!
The first thing you need to do is figure out where your growth-stage company is in the overall market.
A great way to get to the bottom of this is to conduct a market analysis report.
This process involves
When you put all of this information together, you can figure out where you stand in the industry, how your competition is doing, and what you need to do to maintain your growth.
I suggest starting by creating buyer personas (example below). This step will help you better understand your audience segments, which will guide the rest of your report.
Segments are essentially groups of people who find value in your site but may have slightly different needs. A marketing firm, for instance, would have segments for people who want to know about social media marketing as well as those interested in email marketing.
If you don't know the goals and challenges of your audience, you're going to have trouble scaling your marketing efforts, so this is one tip you don't want to skip!
Image Source: OptinMonster
You'll undoubtedly get a lot of valuable data from your analysis report, customer feedback, and on-site analytics.
I highly recommend reviewing this data when you make decisions around your marketing strategy.
It's much easier to make meaningful improvements to your marketing and overall value proposition if you know what people like and what makes you stand out from everyone else in the industry.
With this information, you can add product features or new content to your website that resonates with your target audience.
For example, if you own an email marketing SaaS, your analysis report might reveal a couple of the main pain points people have around growing their email lists. You can use what you learned to create relevant, eye-catching lead magnets or a user-friendly onboarding program.
Odds are, you got to where you are today because you were focused on making data-driven decisions. You need to know that this is something you'll need to continue tracking if you want to thrive.
As your company grows, optimizing how and where you acquire customers should be a priority. When you know where to find people who are genuinely interested in what you're selling, you can maintain your momentum, which means you'll keep growing.
You'll want to first identify and prioritize the best places to connect with prospects and existing customers. Your referral traffic and persona reports can help you figure out how people are finding your site.
If you see a vast majority of your traffic comes from Instagram, YouTube, and X (Twitter), then it's obvious where you should spend your time and marketing dollars.
You're also going to want to compare the benefits and drawbacks of paid and organic marketing so you can make the best choice for your business.
Paid marketing can help you acquire a bunch of leads and customers, but the con is it requires continuous investment and is quite costly. On the other hand, organic traffic, like SEO and content marketing, will lead to steady growth and a highly engaged audience, but it often takes some time before it's effective.
Optimizing your customer acquisition channels takes time. You need to carefully monitor your performance, adjust your strategies, and figure out what works best for your audience. Every business is a little different, so don't hesitate to experiment with new platforms and strategies if you think it will improve your acquisition efforts.
Image Source: Power Slides
Acquiring new customers is important, but you also need to focus on retaining existing customers to ensure sustainable growth. Repeat customers provide a steady revenue stream and are also more likely to become brand advocates.
If you're wondering how effective this strategy is for your long-term growth, consider these statistics:
These statistics highlight why you should do everything in your power to make sure first-time customers come back for multiple orders.
I know at a glance this could seem daunting, but it's actually easier than you think.
The key is to reward and incentivize people to place multiple orders on your site. One of our favorite ways to do this is by investing in a loyalty program.
Put plainly; loyalty programs are designed to give customers a little something extra just for buying from you more than once. The rewards you choose to give will depend on your industry and the needs of your audience, but there's no denying the value of this strategy.
For example, you could use a point-based system that gives your customers currency they can spend on your website each time they place an order. The amount is usually given based on how much was spent. When these folks come back to place another order, they will likely spend beyond what you've awarded them for being loyal.
Another powerful way to build loyalty is to personalize content and offers when you can. A vast majority of people (80%!) prefer to buy from companies when they make an effort to understand their needs and personalize content.
I suggest using your customers' previous orders, on-site browsing history, and conversations with your support team to create relatable, engaging promotions and content suggestions.
Building brand loyalty is essential for your growth strategy because if you're losing customers just as quickly as you're gaining them, it's going to be much harder to scale up and reach your goals.
Content marketing is a powerful tool for growth-stage companies, but to make the most of it, you need a well-structured strategy that aligns with your business goals.
First, you need to figure out what you want to achieve with your content marketing strategy. Do you want to boost brand awareness and drive traffic, or is your goal to convert leads into customers? What you want to achieve will determine what type of content you create and how you distribute it.
Once your goals are clear, focus on creating content that resonates with your target audience. Use the buyer personas we mentioned earlier to create engaging, relevant content while also showcasing the unique value of your product or service.
Now, let's talk about distribution. If you want to expand your audience and build loyalty, you have to share your content across different platforms, from your blog to email newsletters and social media channels. Diversify your content by incorporating written posts, videos, podcasts, and infographics. Realistically, the type of media you create will vary based on your niche, but generally speaking, the more varied your content, the better.
I also suggest making SEO a top priority by focusing on your niche and targeting low-volume, high-intent keywords. Keywords that meet this criteria tend to be less competitive, which means you're more likely to attract people who are ready to make a purchase.
Social proof is another key part of all good content marketing strategies. You'll need to find customer testimonials and create case studies to boost your content's credibility and appeal. People are far more likely to trust you and buy from your site if you showcase content created, or at least inspired, by people outside your business.
Image Source: Low Fruits
As your company grows, you'll find that time is a precious resource. It seems like there's not enough time in the day to get things done. Luckily, marketing automation and AI can help with this problem.
Automation can handle time-consuming tasks like email campaigns, social media scheduling, and lead nurturing, stuff that would normally take at least a full day of your time previously. This allows you to focus on your strategy and creative development while keeping all of your marketing campaigns running smoothly.
Apparently, a lot of people are seeing the power of this technology. According to recent data, 90% of marketers say that AI helps them speed up tedious, manual processes. Automation tools can handle customer segmentation, personalize marketing messages, and optimize ad spend, which gives you more time to scale your growth.
AI has had a massive impact on the way most growing businesses care for customers. For instance, AI can analyze user behavior on your website to predict what products or services they're most likely to buy next. This data can then be used to tailor marketing messages and content. Not only do you get to help customers at that moment, but you also learn more about what they --- and their like-minded personas --- enjoy.
If you're not using AI or automation in your marketing, I suggest starting by automating one step at a time. Take your time and find out what processes you should automate to give your customers the best experience possible.
Image Source: Act
Partnerships are something I believe all growth-stage companies should pursue. By working with others in your industry, you can tap into new audiences and unlock additional growth opportunities that just aren't available otherwise.
Start by identifying companies or influencers that serve a similar audience but aren't direct competitors. For example, if you sell health supplements, you might consider partnering with a fitness influencer or a brand that sells workout gear. The goal is to find partners whose values align with yours and who can help you achieve your marketing goals.
When we approach potential partners, our main focus is to create a win-win scenario. What can we offer them, and how can they help us?
We could collaborate on co-branded content, joint promotions, or events that get eyes on both of our websites. Ultimately, you'll need to figure out what you want to offer and who would be the best partner for your growth stage business. But as a general rule, be clear about the benefits and outline how you can support each other's growth.
Collaborations like this expand your reach and help you build meaningful partnerships in the industry. The more people you have by your side during this time, the more opportunities you have to accelerate your growth.
Both mobile and voice searches are more important now than ever before, as consumers rely more on smartphones and smart speakers to find what they need.
We found that over half of all web traffic now comes from smartphones, and over 1 billion voice searches happen every month, which is shocking when you think about it. These are all people who could be potential customers. If your site isn't ready for them, they might not even know you exist! In other words, you're missing out on countless sales, engagement, and traffic.
Optimizing for smartphones starts with a responsive design that adapts to different screen sizes. It's also important that your site loads quickly on these devices because slow loading times will lead to people leaving without taking action. Simplify navigation and make sure that your content is easy to read on smaller screens.
It's also worth mentioning that Google prioritizes mobile-friendly sites in search results, so this is definitely a step you don't want to miss.
Now, Voice search is a little different from traditional search. People tend to ask questions in a conversational manner since we speak differently compared to how we type. So, optimize your content for long-tail, question-based keywords. I highly recommend creating FAQ sections on pillar posts and optimizing your content for natural language to increase your chances of appearing when someone mentions or asks about one of your keywords.
As a growth-stage company, you need to optimize for both mobile and voice if you want to keep your momentum.
User-generated content (UGC) can be a powerful tool for growth-stage companies. UGC, put simply, is content made by someone else that either promotes your brand or draws attention to your business. It's authentic and cost-effective, and it will significantly boost your credibility.
For context, nearly 90% of shoppers say that user-generated content impacts their purchasing decisions! Shocking, right?
UGC—such as user reviews, photos, and testimonials—acts as social proof that will 100% have an impact on the people who visit your site. Don't believe me? Think about the last time you bought something on Amazon. I bet you checked for reviews (UGC) before you even added the item to your cart.
Image Source: Wholesale Suite
This content is often seen as more trustworthy than brand-produced content, which makes it a valuable asset for building trust and driving conversions.
There are a few ways you can encourage customers to share something about your brand or an experience they had with your company. For example, you can simply ask them to leave reviews, share photos, or use a special branded hashtag on social media.
Running contests or offering incentives, like discounts or freebies, is another powerful way to motivate customers to create content for you.
Once you have UGC, curate and showcase it across your marketing channels. Feature customer photos on your website, share testimonials in your email campaigns and highlight positive reviews on social media. Integrating UGC into your marketing strategy will help you build an engaged community around your brand and drive long-term growth.
As a growth-stage founder, it's crucial to measure the return on investment (ROI) across all marketing channels. By understanding which channels and campaigns keep people engaged, you can manage your resources more effectively and continuously improve your strategy.
Calculating marketing ROI involves comparing the revenue generated from your marketing efforts to the amount you invested in those efforts. For example, if you spent $1,000 on a paid ad campaign that generated $5,000 in sales, your ROI would be 400%.
To get a complete picture of your ROI, calculate it for each of your marketing channels—email, social media, paid ads, content marketing, etc.—as well as for individual campaigns. This will help you identify which strategies are most effective and where you may need to make adjustments.
There's no doubt that tracking and understanding your marketing resources can be challenging, especially as your business grows and your campaigns become more complex. Fortunately, there are tools available that can help. Google Analytics and other analytics platforms make it easy to monitor your performance and see what's working and what isn't.
Improving marketing ROI takes time and patience, especially when you're in the middle of the growth stage. You're going to want to experiment with different strategies until you find a handful of resources and strategies that work best for your business.
During this time, I suggest A/B testing your landing pages and campaigns so you can optimize messaging, design, and targeting for better outcomes. I like to run campaigns for 2-3 weeks, so I know I'm getting accurate results that I can share with the rest of the team.
One thing's for sure: as a founder of a growing company, you need to be willing to measure, test, and optimize your performance if you want to stay on an upward trajectory.
There you have it! These ten marketing strategies are designed to help growth-stage founders navigate the challenges of scaling their businesses. From creating a content strategy and leveraging AI to optimizing for mobile and voice search, each strategy plays a vital role in your long-term success.
My last piece of advice is to remember that being flexible and mindful is how you were to grow your business in the first place. You must keep this same energy and pace as a growth-stage founder, and you'll be well on your way to meeting and exceeding your goals!
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Sawaram Suthar (Sam) is a Founding Director at Middleware. He has extensive experience in marketing, team building and operations. He is often seen working on various GTM practices and implementing the best ones to generate more demand. He has also founded a digital marketing blog - TheNextScoop.
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