Why have a growth plan?
Have you just started a business, or are you planning for growth?
Starting with a blank sheet of paper offers many unexpected possibilities. The problem with blank sheets and many possibilities is that you don’t quite know where to start.
A growth strategy is an action plan that allows you to achieve a higher market share than you currently have.
The 7-step guide that will help you in the right direction is not necessarily only focused on short-term income but also helps you set a long-term plan.
Step 1: Get to know your target group.
The first step is to gain a deep understanding of who your ideal target audience is and what they need help with.
With the help of a fictitious customer profile/persona, you have an overview that helps you create the right content for advertisements and social media and the right products and services that solve the target group’s problems.
Important tools in this phase are questionnaires and in-depth interviews to identify age, demographics, hobbies, roles at work and elsewhere in life (manager, mother, father, student), needs and problems the target group has.
Add a photo of a person to make the profile more realistic. You can find images for free use on Unsplash or Pexel.
Step 2: Map the customer journey
All customers are not at the same maturity stage in their customer journey.
While some are checking out your product/service or looking at your LinkedIn profile, others still wonder what they need help with.
Within growth marketing, the AARRR framework is used to map the customer journey. We have written a separate post about the framework that we work according to and which helps other growth teams and us to obtain a holistic picture of a customer journey at a company.
Map the customer journey and create tools and content that help the customer mature and make a decision.
Step 3: Have a good value proposition.
A value proposition is a promise of a value to be delivered to the target group.
The value proposition consists of three factors:
- Relevance: How your product solves your target audience’s problems or improves their situation.
- Quantified value: Specific benefits you provide to your target audience.
- Unique differentiation: Why your target audience should come to you and not go to your competitors.
Step 4: Create good landing pages
A landing page is where you want your target audience to end up.
Customize each landing page for each homogenous audience you target. The more you adapt to the target group’s needs and maturity in the customer journey, the more the conversion rate will increase on the landing page.
A blog post, a YouTube channel or a Facebook page can be a landing page. It depends on what you are trying to achieve.
Step 5: Choose your marketing channels
Marketing channels are websites, networks or media that you use as external aids to become visible.
Examples of marketing channels include SEO, Google ads, Facebook ads, LinkedIn, Tik Tok, outdoor advertising, newspaper ads, trade shows, etc.
Choose the marketing channel where your target audience is often located and often used.
Step 6: Set clear goals
The best way to achieve something is to set clear goals.
The SMART method is a safe way of defining goals. According to the method, a target should be:
- Specific: Describe exactly what you plan to achieve. How many registrations, registrations or purchases, for example?
- Measurable: The goals must be easily measurable using KPIs in the various stages of the customer journey.
- Achievable: Converting 80% of traffic is probably not achievable. Your budget or human resources may limit you. Create achievable goals.
- Relevant: Ensure the goal is consistent with your vision and core values.
- Time-bound: Make sure the goal has a deadline and possibly a rhythm if it is a recurring goal (weekly, monthly?)
Another well-known internal method is OKR, which stands for objectives and key results.
Step 7: Specify tools
Finally, you specify tools and everything related to more technical things.
This can be specifications for functions in your product, software you need to create and distribute content and possibly advertisements, or code to be implemented on your site for analysis, measurements and customer care.
Some examples of tools are FB Business Manager, Facebook Pixel, Google Analytics, Google Tag Manager, Notion, Trello, Canva, Buffer, Hubspot, Segment or Fullstory.
Before you leave. Remember:
- Take your time in the strategy work.
- Build the strategy on good routines when it is implemented. “Culture eats strategy for breakfast.”
- Be realistic and get help when you feel you are falling short.
Is your growth strategy for your business nailed down?
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