New marketing concepts keep on emerging nowadays! And it’s getting harder and harder to differentiate between the different terms being used.
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…
So let’s do this!
LIST OF RESOURCES
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Resources mentioned in the Video:
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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, aka 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 marketing that will tackle those opportunities.
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Growth Marketing vs. Digital Marketing examples:
1) Dropbox
Let’s start with Dropbox who leveraged the advantage of virality
in 2008, the company launched a referral programme 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 programme was wildly successful – 3,900% growth in 15 months.
This referral programme was a growth marketing idea that served the referral stage of the pirate funnel and then was executed via digital marketing activities:
Email marketing
Social media marketing
Etc.
2) Dollar Shave Club
Their positioning, product-market fit and sales model was part of the growth marketing strategy.
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 pirate funnel.
3) Airbnb
A genius growth hack was their feature that allowed users to post on their biggest competitors website: Craigslist.
Airbnb grew through their Craigslist 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.
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I hope this video will give you a clearer view on what is the difference between digital marketing and growth marketing.
If you enjoyed it, make sure to hit the LIKE button and subscribe for more of the same!
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