Achieving success from your marketing efforts is more challenging than ever before—and more vital than ever. Nearly eighty percent of small businesses that fail can chalk that failure up to a lack of a successful marketing plan. If traditional marketing has failed your business time and time again, it’s time to try a new approach: Growth marketing.
Growth marketing is a marketing strategy that emphasizes measurable results and continuous experimentation. It's a way of finding the most effective channels, messages, and tactics for driving growth. Growth marketing is becoming increasingly important in the B2B environment, where competition is fierce and customers have more choices than ever before.
In this blog post, we'll explore the concept of growth marketing in more detail and provide multiple case studies of successful growth marketing campaigns carried out by existing companies. By the end of this post, you'll better understand how growth marketing can help your business grow and thrive.
This data-driven and results-oriented approach is all about testing and learning to find the most effective ways to grow a business.
Growth marketing is crucial in today’s B2B environment. Today’s B2B buyers conduct extensive research before purchasing and are likelier to engage with brands offering a personalized experience. Using a growth marketing approach helps your business better understand its customers and puts a priority on creating targeted marketing campaigns that resonate with your audience.
Armed with this understanding, let’s explore four businesses that have significantly benefited from growth marketing strategies and campaigns effect in recent years.
The first growth marketing case study we’ll look at today is Dropbox. The file-sharing and storage platform launched in 2007 and has grown rapidly by relying on a growth marketing strategy emphasizing word-of-mouth marketing.
One of Dropbox's most successful growth marketing campaigns was its referral program. Dropbox offered users extra storage space as a reward for referring their friends to the platform. The program was highly effective at driving new users to Dropbox and helped establish the company as a leader in the file-sharing space.
How effective was this campaign? The numbers show that Dropbox grew its user base by almost four thousand percent during this campaign.
Next, let’s look at one of the most famous brands in the growth marketing space, HubSpot. HubSpot is a marketing automation platform that helps businesses attract, engage, and delight customers. HubSpot has grown rapidly since its launch in 2006, partly thanks to its growth marketing strategies.
One of HubSpot's most successful growth marketing campaigns was its "Website Grader" tool. The tool allowed businesses to input their website URLs and receive a free report on how well their website was optimized for search engines. The tool has been highly influential in driving leads to HubSpot in the years since.
Additionally, this tool helps to establish the company as a thought leader and a source of valuable insights regarding website optimization. Now that’s a win/win.
Airbnb launched in 2008, but it’s really taken off in recent years, becoming a household brand name in the wake of the COVID-19 pandemic. Airbnb is a platform that allows people to rent out their homes or apartments (or, more commonly today, income properties explicitly purchased to be short-term rentals) to travelers.
Similar to Dropbox, Airbnb’s most successful growth marketing campaign was its referral program. First, the company offered users a $100 travel credit for referring friends to the platform. Then, after they saw moderate success from this program, they upped the ante, offering up to $100 in credit for every person invited. They also integrated directly with Gmail on their referral site, making it easy for customers to refer their contacts.
The program was highly effective at driving new users to Airbnb. After implementing this program, they saw a three hundred percent increase in bookings and sign-ups.
4. Atlantech Online
Lastly, let’s jump back into the B2B space and talk about Atlantech Online. Atlantech Online is a Lean Labs client that provides telecommunications services to the greater Washington, D.C. area. As one of the industry's early entrants, we were excited to work with a company ready to adopt new approaches in its marketing.
The website's main problem–before Lean Labs came on board–was that the leads coming in weren't qualified. Contacts were from foreign countries and well outside Atlantech's area of operations. To address this, we honed messaging across the site, ensuring the copy only spoke to those who were good fits for business.
Overall, Atlantech saw a 355% increase in qualified leads. And that number continues to grow as we fine-tune their website through Growth Driven Design.
Using Growth Marketing Case Studies to Build Your Own Strategy
Growth marketing is a powerful strategy for B2B businesses looking to grow and thrive in today's competitive environment.
By focusing on data-driven experimentation and optimization, businesses can find the most effective channels and tactics for acquiring and retaining customers by focusing on data-driven experimentation and optimization.
The case studies we've explored in this post demonstrate the power of growth marketing, and they offer valuable insights for businesses looking to 10X their growth without breaking the bank.
If you want to see how your business can achieve results like the ones in this post, contact Lean Labs today.
When you book a call with us, we can discuss your blockers and friction points and help you devise a strategy for success.
August 02, 2023