Every marketer wonders how to drive growth and this is something that all of us need to learn more about this year, especially during this crisis period in which many people will start working from home.
According to GetVoIP, plenty of contact center technologies use predictive analytics, and multiple providers are releasing their own AI assistants and this is something we will analyze here.
In this article, we’ll be talking about the 5 best ways marketers drive their growth and how you can apply them to your business this year for driving growth.
1. Market Penetration
Market Penetration is one of the most popular growth strategies used by marketers. It is essentially used by penetrating a market in which current or similar items are already listed and advertised.
There are different ways to implement market penetration and it demands a strong execution from the very beginning with pricing, promotions, but also distribution to eventually grow your market share.
In addition, there are a lot of opportunities for driving growth by improving your services or products, improving your pricing strategy, consistency, and marketing, compared to your competitors. This is a powerful marketing strategy that you should start using now.
You will need to pay a lot of attention and do a lot of analysis to the market, but it is a strategy that has proved to work and you should start using it from now.
2. Marketing Analytics
Integrating a marketing-analytics approach is crucial to driving growth. In fact, smart marketers make many decisions based on data gathered from analytics platforms.
There are many analytical options to be used and that you should extract data from, to know exactly where you stand on the market and how to grow.
While you should definitely use your Google Analytics and extract data from it, there are other analytics methods that work just as good. For instance, gathering data from all your market channels such as SEO, online advertising, social media, or email, is very important to driving growth.
According to GetVoiP, you can also extract data from phone calls and this proves that there’s a lot more to analyze than Google Analytics.
Understanding marketing analytics and using its data for growth is definitely not the easiest task and everyone needs to learn sooner or later. For this reason, and if you’re not an expert, we advise you to get some professional help or learn through an online course.
3. Artificial Intelligence
Artificial Intelligence has become one of the most important tools for driving growth in the past years and there are several ways you can benefit from it.
First of all, it can improve your website performance by analyzing hundreds of different data points for single users. These data points include location, device, interaction with your website, demographics, and much more, to display the offers and content that will better fit your visitor. In addition, you can also personalize your push notifications to target specific users cccc
Secondly, you can also use AI to create content. What had before to be done manually can nowadays be done by software. In fact, inserting a simple Excel or Google sheet into your Artificial Intelligence software will make it write content like it was manually done.
Lastly, Artificial Intelligence is great to use as Chatbot. For instance, you can use a chatbot to automatically reply to your customers on Facebook giving them some options to solve their problem efficiently.
In fact, intelligent chatbots do use millions of data points centered on the customers and can predict issues for specific users using predictive analytics.
Chatbots are sometimes more knowledgeable than customer service support staff since all the issues would be registered into its system, it could extract the data, analyze it and reply to the user immediately.
These 3 ways are the best Artificial Intelligence examples for driving growth.
4. Brand Purpose
The purpose is the reason why a company, or in this case, a brand, exists. It is something that is sometimes overlooked or not considered by companies to drive growth.
However, your brand’s purpose should actually be one of the prime focuses to gain success and reputation. In fact, many brands built their reputation with purposes such as employing disadvantaged people, expressing their views against gender stereotyping, or simply spreading messages of positivism.
Some studies found that customers tend to choose to work and purchase from a brand that reflects their values and beliefs and, therefore, they personally identify themselves with.
Whether your brand is about clothes, education, or food, you should advertise and live your purpose. This indeed will allow you to get a meaningful place in your customer’s eyes and therefore, driving growth.
5. Use Social Media the Right Way
People nowadays trust brands that are capable of showing and sharing their knowledge and that can adapt to any type of user.
You can use direct messages on platforms like Facebook, Instagram or Twitter to communicate with potential customers who have questions about your services or products. Just like mentioned above, you can use an AI chatbot to take care of it for you, which definitely makes things easier in terms of time consumption. This is a very powerful marketing driving growth method.
In addition, you should also analyze your audience and see if you have more potential on some social media than others and which platform your users use the most.
Research has proved that Facebook posts including images or photos result in 39% more engagement. On the same note, while tweets with images or videos on Twitter create on average 200% more engagement, which is a remarkable increase. For example, all GetVoiP posts get published with an image.
The Bottom Line
To sum up, these were the 5 absolute best ways of driving growth. There are certainly many other ways, however, these ones were proven to work for any brand and field.
Whether you started recently or you’re more experienced, these are marketing strategies that definitely deserve to be tested a few times. Check what works best for your audience, for the type of business you have and ultimately, where your users respond the most to.
In conclusion, use social media, check your analytics, work on your brand purpose and penetrate the market using the methods we mentioned above, and you will start growing organically.