17 of the Best Growth Marketing Strategies Small Businesses Used in 2023

Did you know there are over 30 million small businesses in the United States according to the Small Business Administration? “With numbers like those”, how do you stand out amongst those other Gazillion small businesses?🤼🤼

Achieving that mission may seem impossible, but identifying simple ways to get ahead of the class without flashy tactics is possible.

You don’t need gimmicks to get seen by your loyal customers.  Incorporating time-tested growth marketing strategies consistently can do the trick!

In this article, we share the 17 best growth marketing strategies for boosting profits and visibility that every small business can use.

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What is Growth Marketing? 

Growth marketing isn’t just a buzzword; it’s a comprehensive approach to encourage business expansion by adopting targeted and data-driven marketing strategies.

Unlike traditional, growth marketing strategies focus on continual testing and optimization across various marketing channels.

Growth marketers relentlessly seek scalable ways to acquire and retain satisfied customers, emphasizing a complete view of the customer’s journey.

This approach isn’t confined to one tactic but involves a blend of advanced marketing strategies supported by business goals.

Explanation of Growth Marketing’s core concept and principles.

Growth marketing exemplifies an active approach to power success for small businesses navigating today’s competitive landscape.

Unlike traditional marketing, which often casts a wide net hoping to grab their target audience’s attention, growth marketing strategies hone in on strategic partnerships, customer data, and proven marketing techniques to capture and keep customer loyalty.

Its core principles revolve around ongoing experimentation, using actionable insights, and encouraging key customer connections across various touchpoints.

For small business owners, growth marketing outperforms most other types of marketing… Because growth marketing strategies utilize cost-effective methods, that are measurable and results-driven.

List of Growth Marketing Strategies

Best Practices for Growth Marketing Success

Success in growth marketing hinges on a few key practices.

• First, adopting a data-centric approach fuels informed decisions.
• Second, embracing agility and persistent research helps modify market changes.
• Third, prioritizing customer needs and feedback aids in long-term customer retention. Moreover, nurturing collaboration among marketing teams encourages diverse perspectives and fresh ideas.
• Lastly, constant learning and adjustment to emerging trends keep strategies innovated and current.

Growth Marketing: Terms You Need to Know

Glossary of Essential Terms Related to Growth Marketing:

Growth Marketing: Imagine you have a clothing store that uses innovative marketing strategies to grow faster. This is done by acquiring more customers and nurturing them to become repeat clients.

A/B Testing: In short is testing A vs B. You hang window display A on Monday, and B on Tuesday. Which display brought in the most traffic?  What’s better is you can repeatedly tweak the winner to gain even better results, using business intelligence tools helps.

Conversion Rate: 100 visitors entered your store. But out of that 100, (10 shoppers purchased).

The conversion rate measures the percentage of visitors who take a desired action. This means that for every 100 people who visit the store, 10 make a purchase.  

You have a conversion rate of 10%.  

User Acquisition: This is finding new customers for your clothing store. You take to social media networks or run social media ads or partnerships with local influencers to drive more targeted customers interested in your brand.

Customer Retention:  Customer retention is often overlooked, but the stats will stagger you. Did you know retaining a customer is 5 -25 times cheaper than acquiring a new one?

That old song is true. “It’s cheaper to keep her”. It’s all about keeping customers happy so they return to your store. Maybe you offer loyalty programs or personalized discounts to keep them coming back.

Funnel Marketing: Think of it like the journey a shopper navigates in your store—from entering the door to making a purchase. It’s the steps they go through.

Great marketing strategically designs the funneling process in their favor.

These terms aren’t entirely new, but they’re super important in today’s business world where companies want to grow faster using smart strategies.

Key Practices for Successful Growth Marketing Strategies:

Know Your Customer Base: Understand who your shoppers are, what they like, their behavior, and where they spend time shopping.

Experiment with Store Displays: Try different layouts, window designs, or product placements to see what attracts more customers. Don’t be afraid to mix things up.

Use Sales Data: Keeping track of what items sell. Stay abreast of sold inventory. This encourages smart decisions about what to stock and how much.

Build Customer Loyalty: Offer perks like exclusive deals punch cards, or a smiling face can encourage shoppers to return.

Continuously Learn and Adapt: Stay updated on new trends.  Many shoppers prefer to visit stores that stay current.

The Fundamentals of Growth Marketing:

Testing New Marketing Strategies:

Growth marketing is like testing different advertising approaches or company setups to see what resonates best with your customers.

Customer-Centric Focus: It’s not just about selling products; it’s about guaranteeing customers love the store experience enough to return.

Flexibility in Strategies:

Being fluid will keep you ahead of the learning curve. Staying ready to change tactics based on marketing intelligence, what works and what doesn’t is crucial in growth marketing.

The Crucial Role of Growth Marketing in the Digital Age:

Staying Agile: In today’s rapidly changing digital landscape, growth marketing helps businesses quickly adapt to new trends and customer behaviors.

Cost-Effectiveness:

Digital marketing costs are often more efficient and budget-friendly than traditional marketing methods like newspaper ads, billboards, or TV.

Continuous Improvement:

You may have heard this, “if you aren’t growing, you’re dying”. Nothing stands stand. With growth marketing, businesses constantly improve their strategies, giving them a competitive edge.

17 of the Best Growth Marketing Strategies of 2023

1. Full-Funnel Content Marketing

What is full-funnel content marketing? A full-funnel navigates through the entire buyer’s journey. It’s the buyer’s journey you take your customers through, from start to finish.

From awareness to decision, the strategy aligns content types with diverse stages, of the sales funnel.

For example, an e-commerce company might produce blog content addressing common pain points in a certain industry, capturing potential customers’ attention.

Example: HubSpot’s Blog offers content at every stage of the buyer’s journey, from informative articles attracting new visitors to in-depth guides nurturing leads.

This strategy resulted in over 7 million monthly visitors, showcasing the power of comprehensive content across the funnel… WOW!!!

2, Innovative Search Engine Optimization

Innovative SEO techniques in 2023 go beyond keywords. Strategies include optimizing for voice search, leveraging long-tail keywords, and crafting content following Google’s ever-evolving algorithms.

For small businesses that want to increase organic traffic, advanced SEO tactics can increase results by 14%/

Example: Moz’s SEO Guides Moz, a renowned SEO software company, produces comprehensive SEO guides, catering to beginners and advanced users.

Optimizing for various keywords and answering user queries, Moz sees consistent traffic growth and high domain authority.

3. Community Building

Times are changing and people are getting back to communities. Building a community cultivates brand loyalty.

Platforms like Reddit, Discord, or branded forums provide spaces for customers to engage with each other and the brand itself.

Brands, like GoHighLevel, have harnessed community building, with a large percentage of their new product ideas originating from community feedback.

Example: Harley-Davidson H.O.G. (Harley Owners Group) has a tight-knit community of motorcycle enthusiasts. Through organized rides, events, and forums, the brand has established a loyal following, driving customer retention through the roof.

4. Referral Programs

Referral programs or what others call WOM Word-of Mouth incentivize existing customers to advocate for your brand. Dropbox famously grew its user base by 60% through its referral program, offering extra storage space to referrers and new users.

Example: Airbnb’s Referral Program incentivizes both referrers and referees with travel credits upon successful recommendations. This strategy contributed significantly to their explosive growth and global reach.

5. Leveraging Customer Psychology

Understanding psychological triggers guides effective marketing strategies… Persuasive techniques like scarcity or social proof influence purchase decisions. When Amazon implemented personalized product recommendations, they saw a 29% increase in sales.

Example: Spotify’s Personalized Playlists curated based on user preferences and listening habits illustrate the power of understanding customer psychology. This approach boosts user engagement and retention.

6. Blogging

Blogging remains a staple for inbound marketing. HubSpot found that companies that blogs generate 55% more website visitors, demonstrating the significant impact of consistent, quality content.

Example: Neil Patel’s Blog offers actionable and data-driven marketing insights. Through consistent blogging, Patel has established himself as a thought leader in digital marketing, attracting a massive audience and client base.

7. Event Marketing

Events create immersive brand experiences and networking opportunities. Whether hosting a virtual webinar series or participating in industry conferences, events establish direct connections with your audience.

For instance, Salesforce’s Dreamforce event saw a 25% increase in attendee satisfaction, raising stronger brand loyalty and driving conversions.

Events fuel platforms for product launches, networking, and showcasing expertise, allowing businesses to leave lasting impressions.

Example: Apple’s Product Launch Events generate immense buzz and anticipation.

These events drive immediate sales and create a brand halo effect, boosting long-term customer loyalty.

8. Social Media Marketing Strategies

Social media remains a goldmine for engagement and lead generation.

Leveraging platforms like Instagram, Facebook, and LinkedIn involves crafting engaging content, utilizing paid advertising, and encouraging sincere connections.

Tip: Nike’s strategic use of Instagram Stories led to a 45% increase in engagement, showcasing the power of interactive and visually appealing content.

Example: Wendy’s Twitter Roasts account gained attention for its humorous responses. This engagement strategy increased their social media following and elevated brand awareness and engagement.

9. Influencer Marketing

Influencers hold sway over their dedicated followers, making influencer partnerships a lucrative growth strategy.

For example, Daniel Wellington’s collaboration with micro-influencers saw a 214% rise in Instagram followers within two years, illustrating the impact of authentic influencer endorsements on brand visibility and credibility.

Example: Gymshark’s Fitness Influencer Collaborations, Gymshark collaborates with fitness influencers to promote its athletic wear.

These partnerships resonate with their target audience, leading to increased brand credibility and substantial sales growth.

10. Empowering Existing Customers

Inspiring existing customers produces loyalty. Offering loyalty programs, and elite bonuses, or inviting them to co-create content promotes deeper connections.

For instance, Apple’s loyal customer base contributes to a staggering 92% retention rate for the iPhone, emphasizing the importance of customer empowerment in sustaining brand loyalty.

Example: Patagonia’s Worn Wear Initiative program encourages customers to repair and recycle their clothing. This initiative aligns with their environmentally conscious audience, fostering a loyal customer community.

11. Social Proof

Utilizing social proof—testimonials, user-generated content (UGC), or endorsements—instill trust in potential customers. Amazon’s incorporation of customer reviews led to a 40% increase in sales, highlighting the influential role of social proof in purchasing decisions.

Example: TripAdvisor’s User Reviews platform thrives on user-generated reviews. This social proof mechanism influences travel decisions, highlighting the significance of authentic user feedback in driving conversions.

12. Using Freebies to Increase Sales

Strategic giveaways, free trials, or samples attract potential customers, providing a taste of your product or service. Dropbox’s referral program offering extra storage space led to a 60% user growth, showcasing the effectiveness of value-driven freebies for acquisition and retention.

Example: Sephora’s Rewards Program offers free samples and exclusive discounts, encouraging customers to make purchases and cultivating repeat business through enticing freebies.

13. Disruptive Marketing

Disruptive marketing challenges norms to stand out in a crowded market and creates memorable brand experiences.

The Dollar Shave Club’s viral video campaign garnered 12,000 new customers within 48 hours, underscoring the impact of disruptive marketing in capturing attention and driving conversions.

Example: Dollar Shave Club’s Viral Videos witty and unconventional ads went viral, amassing millions of views and driving substantial customer acquisitions, disrupting the traditional razor market.

14. Cross-Channel Marketing

Integrating various channels—social media, email, and website,—creates a seamless customer experience.

Starbucks’ mobile app combined with loyalty cards resulted in a 30% increase in revenue, showcasing the effectiveness of cross-channel strategies in boosting sales and customer engagement.

Example: Coca-Cola’s “Share a Coke” Campaign

Coca-Cola’s integrated “Share a Coke” campaign spans multi-channels, featuring personalized bottles. This cross-channel approach saw increased sales and social media engagement.

15. Constantly Track and Measure

Continuous tracking and analysis of key metrics are pivotal in refining strategies for optimal performance. Google’s utilization of data-driven decision-making saw a 15% increase in marketing ROI, emphasizing the importance of analytics in driving growth.

Example: Netflix’s Data-Driven Content Recommendations

Netflix’s data analytics drive personalized content recommendations, increasing viewer satisfaction and prolonged subscription retention.

16. Video Marketing

Video content captivates audiences and delivers messages effectively. Cisco forecasts predict that by 2023, 82% of internet traffic will be video-based, underlining the significance of engaging video content for brand visibility and engagement.

Example: GoPro’s User-Generated Content (UGC)

GoPro encourages users to share their adventure footage, curating (UGC) engaging content that showcases their product’s capabilities, and driving brand awareness.

17. A/B Testing

A/B testing involves comparing two variations of a marketing element to determine which performs better. Booking.com‘s A/B testing on call-to-action buttons resulted in a 5% increase in conversions, highlighting the impact of repetitive testing on optimizing user experience and conversion rates.

Example: Amazon’s Homepage Testing

Amazon continuously conducts A/B testing on its homepage layout, optimizing for user experience and conversions, resulting in increased sales and customer satisfaction.

Impactful Video Marketing Strategies for Small Businesses:

Forget cat videos. We’re talking high-octane fuel for your growth engine. Video marketing can ignite brand awareness, supercharge engagement, and skyrocket conversions. But how? Here’s the secret sauce:

1. Go Micro, Reap Macro: Ditch hour-long infomercials. Bite-sized video snacks like Instagram Stories, TikTok explainer clips, and live Q&A sessions rule the roost.

They’re snappy, digestible, and perfect for today’s attention-scarce audience. Think Dollar Shave Club’s hilarious YouTube ads – short, sharp, and viral gold.

2. Unleash the Power of Authenticity: Ditch the glossy studio polish. Real, raw, and relatable content resonates. Showcase your team, capture behind-the-scenes moments, or feature real customer testimonials.

Remember, people connect with people, not faceless brands.

3. Leverage the Latest Tech Stack: AI-powered video editing tools, interactive elements, and AR/VR experiences are no longer sci-fi. Embrace them! Create shoppable videos, add quizzes for audience participation, or use AI to personalize messages.

Sephora’s virtual lipstick try-on app is a game-changer – imagine that for your product!

Remember, video marketing isn’t a one-night stand. It’s a sizzling long-term relationship. Build a consistent video strategy, track your results like a hawk, and adapt like a chameleon.

Do it right, and watch your brand become the talk of the town.

Benefits of Growth Marketing: Hacking Your Way to Exponential Success

Forget playing it safe. Growth marketing is about pushing boundaries, experimenting like a mad scientist, and scaling your business like a runaway rocket. But what’s the secret sauce? Here’s a taste:

1. Data-Driven Decisions, Not Gut Feelings: Ditch the crystal ball. Growth marketing thrives on data-backed insights, A/B testing everything, tracking clicks, and analyzing every pixel.

Use those insights to optimize your campaigns, personalize experiences, and identify hidden growth opportunities. Think of it like having an X-ray vision for your marketing decisions.

2. Agile Experimentation, Not Rigid Plans: Forget five-year roadmaps. Growth marketing is about nimble sprints, testing new ideas on the fly, and embracing calculated risks. Launch micro-campaigns, repeat quickly, and pivot like a ninja when needed.

Think of it like a heat-seeking missile for your marketing strategy – always moving, always adjusting.

3. Customer-Centric Obsession, Not Ego-Driven Marketing: Forget broadcasting to the masses, because growth marketing is about understanding your ideal customers better than they know themselves.

Personalize interactions, anticipate their needs and build genuine relationships. Think of it like having a best friend in every target audience member.

Growth marketing isn’t just a fancy buzzword. It’s a mindset shift, a superpower for businesses tired of playing it safe. Embrace it, and watch your small business become a growth-hacking legend.

Conclusion:

With digital marketing, competition intensifies in the blink of an eye. The biggest challenges brands face are growing, scaling, and maintaining business.  Amidst all the other demands, we must keep up with emerging trends and rivals.

That’s where I come in. With over four decades of experience, I understand the struggle of chasing new business. Conversely, I know the value of keeping your skills, trends, and updates, on point.

Here, I share insights into ways to grow and scale your business more efficiently, without sacrificing time for family and friends. My passion stems from my years of experience, so you don’t have to learn these lessons the hard way.

So, let’s work together! I’ll keep writing if you keep sharing. And speaking of sharing, please click your favorite share button if you find this post helpful.

All I write about are ways to grow, scale, and market business, we hope you found this article helpful, for growth marketing strategies.