Growth marketing is a new way of structuring the marketing team and holding them accountable to increase revenue and company growth. The idea involves the alignment of sales and marketing, as well as coaching and strategizing for higher management. Sujan Patel, interviewed by John Golden, explains more.
This expert sales interview explores growth marketing, including:
- Defining growth marketing
- Examining the current playing field
- Differentiating your company from others
What is Growth Marketing?
Growth marketing is a new kind of marketing that focuses on growth. It came out of the rise in technology, marketing automation, and the introduction of new channels. This method is unique in that helps hold the marketers accountable. In a similar rate that salespeople have been responsible for the pipeline and close rate, it holds marketers responsible for metrics and producing growth. “It’s having the marketer look at the full funnel, exploring what it’s like in the buyer’s mind, all the way through when sales make their pitch and getting the customer on-boarded,” said Patel. It requires both sales and marketing to work more closely together and to pull down the dividing wall that has separated them for so long for the ultimate success of the organization.
The Playing Field:
The current business world is in a state of increased competition. There is also more of a level playing field because everyone has access to the same information. The introduction of chatbots, Facebook ads, and other technologies mean that you can make a lot with very little. It comes down to who can execute it better. For the longest time, the job of the marketing team is to bring in traffic and leads, and then it was the job of the sales team to do something with them. “A marketing qualified lead is great, but it has to turn into a sales qualified lead. And even more importantly, a product qualified lead,” said Patel. You have to hold the team accountable for every part of this to get ahead of the competition. It comes down to thinking about the full funnel and where you can control parts of it and where you can optimize.
Differentiation:
Considering this challenging market, how do you differentiate yourself in the market? “We’re in the world of commodities. Companies are coming into the space every day. What matters is brand, your messaging, and what people think,” said Patel. “Why do people buy Nike versus Adidas versus any other shoe? It’s because they have a brand, and the companies have a reputation.” Molding your company around your branding, messaging, and reputation is what will ultimately draw in buyers and differentiate you from competitors.
For more information on growth marketing, watch the expert sales interview! To learn more about Sales & Marketing Alignment, check out the section in SalesPOP!.
About our Host:
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.
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