Building a Growth Marketing System One Channel at a Time
When starting a business, the last thing a business owner wants is for the company to remain small. In any case, they want the business to grow and make a name for itself in various aspects. Their dream is to see it multiply revenue while keeping costs at a minimum in the long run. However, this doesn't happen in most cases, the reason being that most business owners lack a scalable marketing system.
While you may offer the best services and products in the world, all that won't matter if you've not streamlined your scale marketing machine. It needs to be efficient and scalable, getting your offering out there in front of your ideal customers in large volumes.
What is Scalability?
Scalability is the ability to develop, sell, and deliver more services or products without sacrificing costs or quality. The process entails adding the necessary resources to meet the growing demand for your offerings.
In other words, scalability is the bedrock of growth, especially as consumers continue to incline more toward digital experiences.
While it's initially easy to improvise your scale marketing strategy in the early stages of your business, it becomes riskier as you expand. Managing predictability also becomes difficult, especially if you don't have a growth marketing engine in place.
The result is increased miscommunication between marketing and sales, data corruption, loss of leads, and overall chaos within your business.
With a properly configured and integrated, scalable marketing system, it's easier for your business to navigate market fluctuations and replicate success. You're also better able to maintain data and lead integrity for an acceptable ROI.
The Importance of Scalable Marketing Systems
One of the most significant benefits of a fine-tuned marketing machine is the ease with which your business quickly adapts to changes in the market. As a small or medium-sized business, you can easily get overwhelmed by the multiple facets of growth marketing. The result is that your business will lose its market share and lead to competitors.
Scalability enables your systems to generate and process more leads, sales, and revenue. With the right strategy, this happens at a faster pace without breaking down your system. A scalable marketing system allows your business to grow without risking losing leads to an inefficient marketing process.
How to Build a System That Supports Scalability
The biggest mistake companies make when putting together a scale marketing system is to start with shiny objects. The misstep is understandable because there's a new crop of software solutions every day, each promising to do more for the business. However, the best strategy would be to identify the most significant challenge between sales and marketing.
Consider the most significant issue these teams face and what is missing from the process. At what point do operations get murky? A close analysis of the marketing funnel from the bottom up will help you identify issues that need immediate attention.
Flag the places where there's a mismatch or insufficient data. Once you identify the problem, you can consider building a marketing system that'll help you create the necessary scoring models.
Best Practices for Building Your Marketing System
There's no one-size-fits-all solution to building a marketing system. Each system should be unique enough to match your company's needs, your audience, the makeup of the marketing team, the sales model, marketing strategy, and other variables.
Overall, every scalable marketing system must have three crucial attributes. These will ensure effectiveness and efficiency while enhancing the future proof of the marketing system:
Ability to Allow a Test-Learn-Repeat Cycle
You don't want to reinvent the wheel with each new campaign to create a scalable marketing system. Before going into mass production on a process or drive, you must first establish that you have the proper procedure or campaign.
The only way to do this is through experimentation. For example, start by finding a successful revenue model that you can develop with further investment. The test-learn-repeat cycle will help you continuously improve the effectiveness of the model quickly and cost-effectively.
In practice, the model involves a cycle of creating and testing hypotheses by creating something small for potential customers to try. You then measure their reactions and learn from the results. By continuously learning what your customers want, you can eventually deliver what your customers want in each of your offerings.
How to Use the Test-Learn-Repeat Model
Begin by determining the channel of your marketing system you want to test and create a hypothesis. The element could be the revenue channel to see how it best works for your customers. What are the various channels you've set up for bringing revenue for your business and what is their level of effectiveness? Is there sufficient reason for you to continue developing the channels? Does the data you've collected show that you can build a justifiable business around your product or service offerings?
Once you measure the results, it's time to derive the lesson and make a sound decision based on evidence on what to do next. There are two outcomes at this stage:
- Persevere: You proved your hypothesis correct and you can therefore press on with the same goals for your other marketing channels. You also continue to fine-tune the results.
- Pivot: The outcome of your experiment refutes your hypothesis but still gives you valuable knowledge on what doesn't work. You know what not to do when putting up the other marketing channels in your system. Pivoting allows you to reset, correct, or repeat the loop, using the information you've gained to perform new experiments. The idea is to work on one channel until it works and then reiterates the success.
Test every element of your marketing system for a small audience in a way that gives you results fast. Once the results prove that the concept is practical, you can think about scaling. You can consider creating a plan to scale across lead attribution, top-of-the-funnel offers, integration, and mass production. By focusing on one channel you can test details like product positioning, audiences, frequency, tone of voice, and creativity. It'll be easier to replicate success in the other channels of your marketing system.
With a scalable marketing engine working behind the scenes, it'll be easy to respond to all kinds of opportunities that open up along the way. You'll have everything necessary to stay ahead of the competition.
Maybe you are not ready to jump into the tactical efforts of building out a system, and you still need to focus on your strategy. I'd suggest you build a Growth Marketing Canvas and then come back to this post.
If you're new here, you'll know that this is a common topic for me. Check the blog to find more resources.
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