The term “growth” has been synonymous of marketing for the past few years. A growth marketer should take marketing to the last mile: revenue and referrals (and more revenue.) That’s because traditionally, marketing meant branding, and it did not include a direct response strategy.
If you own and run a business, or are one of the first media analysts in your company, you are doing growth marketing: you want to get two dollars, from each dollar you spend.
Most of your pain points are tech-related. You have an idea about what type of customer you want, what to tell them about your product/service; what you don’t know is how much it is going to cost you to acquire one, and where to spend the ad dollars.
If I have to guess, you are dealing with:
1) Scaling campaigns without increasing CPA: you know that acquiring a customer in Facebook costs you $100, and with $1,000 budget, you get 10 customers per day. Is it going to cost you the same, more or less if you want to get 100 customers per day?
2) Multi-channel attribution: you are spending money on Google Ads and Facebook Ads. Each channel has its pixel tracking. How do you know if a customer came from Google or Facebook? Maybe she saw your Facebook ad, searched on Google about you, and then converted into a customer.
3) Search vs. social: in search, people have a clear intent. If they google about “best dry dog food,” it is very likely they want to buy dog food. In social, the engagement is different: people are browsing through a newsfeed, not looking to buy anything. They see a dog lover friend who liked a specific dog food, chances are they will go with that brand.
4) Educating clients (or managers, or partners): the search/social landscape is so complex that convincing a client to spend more on Google than Facebook is a challenge. You need data to back up your recommendations. Before doing so, you need to educate your clients (or yourself!) what the capabilities of each channel.