In this video, the presenter discusses the difference between Digital Marketing and Growth Marketing. The purpose of the video is to showcase how the two concepts can be used together, rather than to argue that one is better than the other. Growth Marketing is described as a strategic approach to achieving growth goals, which involves identifying opportunities for experimentation and matching them to proven frameworks. The Digital Marketing toolkit, including Pay-Per-Click Advertising, Content Marketing, Social Media Marketing, and more, is used to conduct experiments. The video also explores the importance of defining and measuring the customer journey to uncover growth opportunities. Several case studies, such as Dropbox, Dollar Shave Club, and Airbnb, are presented to illustrate how Growth Marketing ideas were executed through Digital Marketing activities.
New marketing concepts keep on emerging nowadays.
And it's getting harder and harder to differentiate between "this" and "that" term.
Hey, guys, my name is Alain and I'm a Growth Marketing Trainer and Coach here at Growth Tribe.
In this video, we're going to show you how to unravel the gap
that is between two major concepts
Digital Marketing and Growth Marketing,
And why it's important to know how they differ.
Disclaimer: The purpose of this video is not to show that one way is better than the other,
but rather to showcase the difference between the two and how they can be used together.
So stay tuned, and let's do this.
So let's start with some simplified definitions.
Growth Marketing is a strategic approach to achieving growth goals in a few steps.
One, you begin by identifying opportunities for experimentation from existing data.
Next, you match those experimentation opportunities to proven Growth Marketing frameworks.
Then you're set up to experiment with the help of your Digital Marketing toolkit,
which you've probably heard of before, through the following terms Pay-Per-Click Advertising, Content Marketing,
Social Media Marketing, Affiliate Marketing, Search Engine Optimization,
influencer Marketing, the list goes on and on.
Now, how do we identify those opportunities?
Let's go back to the fundamentals to understand how those activities can be used.
And before we start exploring the Digital Marketing toolkit,
we have to make sure that we've defined every stage of the pirate funnel, a.k.a.
the customer journey and how it's measured.
This will help us pinpoint the available growth opportunities, then dig into our toolkit
to run the required digital tasks that will tackle those opportunities.
Sure can, let's start with Dropbox.
Who leveraged the advantage of virality
Once Dropbox had established a foothold in the market.
The team launched a series of features that gave users even more reasons
and ways to share the product with colleagues and basically their network.
Shared folders let users sync documents
from multiple sources to one cloud location.
This enables teams to use Dropbox to collaborate online,
prompting each member to sign up and to become a member.
In 2008, the company launched a referral program in which existing users could invite new people
to join the service and receive an additional 500 megabytes of free space for each referral.
The program was wildly successful, bringing in many new users
who had not previously heard about the service, including myself.
The results a whopping 3900% growth in 15 months.
This referral program was a Growth Marketing idea
that served the referral stage of the Pirate Funnel
and then was executed via the Digital Marketing activities.
Email marketing, social media marketing and etc.
Another great example would be the Dollar Shave Club,
According to Feedough.com
The company, positioned as men's lifestyle club,
communicated about their products being f**king great and economical
and offered a subscription-based plan which initiated automatic repeated sales.
The customers can buy any product for the first time at the minimal cost of $1, which makes them a member of the club.
Their positioning, product market fit check, and sales model were part of the Growth Marketing strategy.
Now, content video marketing was the digital activity
they decided to use to communicate this strategy with their audience.
It was part of their awareness building stage of the funnel.
Not the last, but not least case study that I'd like to share with you today
is the one from Airbnb
and A genius growth hack was their feature that allowed users
to post on their biggest competitor's website,
Now Craigslist already had a large number of customer base,
whereas Airbnb was new in the market, and so Airbnb grew through their very own power users
by sending them this email.
The goal was to increase the level of awareness via
the digital marketing activity, which was email marketing.
That said, I hope this video will give you a clearer view on
what is the difference between digital marketing and growth marketing.
So if you enjoyed it, please make sure to hit the like button and subscribe for more of the same.
And check out all the extra case studies and resources mentioned in the description below.
See you next time!
In the ever-evolving world of marketing, new concepts are constantly emerging. It can sometimes be challenging to differentiate between these different terms and understand their nuances. In this blog post, we will explore two major marketing concepts: Digital Marketing and Growth Marketing, and highlight their differences and the importance of understanding them both.
Growth Marketing is a strategic approach to achieving growth goals in a step-by-step manner. The process starts with identifying opportunities for experimentation based on existing data. These opportunities are then matched with proven Growth Marketing frameworks. With the help of the Digital Marketing toolkit, which includes Pay-Per-Click Advertising, Content Marketing, Social Media Marketing, and more, experiments are conducted to drive growth.
To identify growth opportunities, it is crucial to understand the fundamentals of the customer journey, also known as the pirate funnel. By defining each stage of the funnel and measuring its impact, we can pinpoint the available growth opportunities. Once these opportunities are identified, we can utilize the Digital Marketing toolkit to execute the necessary tasks and tackle these opportunities effectively.
Let's take a look at some successful examples of Growth Marketing strategies. Dropbox, for instance, leveraged the power of virality by introducing features that encouraged users to share the product with their network. This resulted in a significant increase in user sign-ups and a tremendous growth rate. Dollar Shave Club, on the other hand, communicated the value and affordability of their products, attracting customers through a subscription-based plan. By using content video marketing, they successfully built awareness and grew their customer base. Airbnb's growth hack involved allowing users to post on their biggest competitor's website, Craigslist. This enabled them to tap into an already established customer base and achieve rapid growth through strategic email marketing.
In conclusion, Digital Marketing and Growth Marketing are two distinct marketing concepts, each with its own strategic approach. Understanding the differences between the two and their potential for collaboration is vital in today's competitive landscape. By leveraging the Digital Marketing toolkit and implementing effective Growth Marketing strategies, businesses can achieve significant growth and success. If you found this blog post helpful, be sure to like and subscribe for more insightful content. You can also find additional case studies and resources mentioned in the description below. Until next time!
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