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How do you structure a growth strategy?

Date published: July 03, 2023
Last updated: March 7, 2024

Growth marketing isn’t a single action or activity. You can’t identify your target market, create some growth goals, and call it a day. Nor can you focus on a single area, like digital marketing or customer acquisition.

Growth marketing is a comprehensive, multi-faceted approach to promoting a brand. It creates a growth plan that integrates the entire customer journey and aligns a business’s offerings with that experience. This has the potential to unleash long-term strategic growth — if you do it right.

Let’s consider what it takes to create a quality growth marketing strategy and how you should structure that marketing strategy if you want it to remain an effective part of your business development and organic growth over time.

What Is a Growth Strategy?

Gartner defines a growth strategy as “an organization's plan for overcoming current and future challenges to realize its goals for expansion.” It’s a good baseline, but at Relevance, we dig further into the growth strategy concept.

The phrase “current and future challenges” is particularly important. It’s key to truly understanding what growth strategy — and growth marketing as a whole — focuses on.

Growth marketing is a comprehensive, long-term approach to marketing. It seeks to generate revenue, as is the case with all marketing. But it does so through holistic, data-driven strategic planning that emphasizes the customer throughout.

A growth strategy gives you a vision for what you’re trying to accomplish. This takes into account a wide range of factors (many of which are detailed further down).

Growth Strategy in the Growth Marketing Hierarchy

A good growth strategy should be bookended by a solid growth marketing framework and effective tools and techniques. This hierarchy or growth marketing process starts with a growth strategy plan and detailed framework. This is the umbrella under which your growth marketing activity takes place.

Each growth strategy draws on the guidelines and resources of your growth framework. It applies the overarching guidance to create a specific strategy for your business’s current promotional trajectory.

From there, the impact of this strategy trickles further down the growth marketing hierarchy as you create individual campaigns. These are time-bound marketing plans that you execute using specific tools and techniques.

So, in a sense, your growth strategy is a middleman in your growth marketing activity. It interprets the long-term vision of your growth marketing framework into an applicable plan for the present. This helps you create more specific campaigns that you can initiate at the right times.

How Do You Structure a Growth Strategy?

Understanding a growth strategy is one thing. Creating one is another. There are three areas that you want to focus on when structuring a growth strategy:

  • Data and analytics
  • Your customers
  • The three pillars of growth strategy

Let’s consider each of these in further detail.

Base it in the Data

As is the case with all growth marketing, everything revolves around data. Growth marketers do not use “gut instinct.” They collect and analyze data. This allows them to make informed decisions.

When you are engaged in strategic planning, you want to have the right data handy. This should include market research on potential customers. Past marketing performance is also important.

This kind of information can help you brainstorm ideas effectively. Remember, research and data are the foundation of a healthy business growth strategy.

Prioritize the Customer’s Needs

The customer is always right. They should also be center stage. When you’re building a growth strategy, your customer should be in the middle of every discussion.

Traditional marketing starts with product features and benefits and then considers how they apply to consumers. Growth marketing reverses the order.

It considers the needs of a company’s target market and then looks for ways its products or services meet those needs. This may feel like semantics, but putting the customer’s questions, thoughts, and concerns first leads to more organic messaging.

Use the Three Pillars of Growth Strategy

Once you’ve gathered relevant data and prioritized the customer, it’s time to talk specifics. As you flesh out your growth strategy structure, keep three key areas in mind:

  • Authority: Create a content strategy that establishes your brand as an authoritative source of solutions in the mind of consumers.
  • Credibility: Use digital PR to cultivate your presence across third-party publications. This builds trust in your audience.
  • Visibility: Craft an SEO strategy that optimizes your content and ensures that it is visible across the internet.

By emphasizing these three key pillars together, you can craft a holistic strategy that enables you to own your industry and accomplish each growth marketing goal.

Analyzing, Optimizing, and Iterating

Once you’ve structured your growth strategy, you’re almost done. The last step is to implement it. As you use your strategy to inform your marketing campaigns, make sure to analyze the results.

If something is working, great! Keep up the good work. If a marketing activity or technique isn’t performing the way you want it to, make adjustments. Then rinse and repeat.

If you continue to come up short of your growth marketing goal, don’t give up. That may simply be the sign that it’s time to find a good growth marketing partner (cough cough, like us!). They can bring the third-party perspective, experience, and expertise required to set your strategy on the straight and narrow.

Creating a Sound Structure for Your Growth Strategy

Creating a good growth strategy is important. It serves as a guide and source of inspiration for your growth marketing activities to achieve you business goals and reach business success.

If you’re crafting a growth strategy, do it the right way. Start with the data. Focus on the customer. Keep the three pillars of growth strategy (authority, credibility, and visibility) in mind. Test your results and tweak where necessary.

Doing so gives your growth marketing efforts the best chance of success when you go to put your strategy into action.

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