Digital growth marketing uses innovative methods to reach and attract an audience organically. While these techniques are usually experimental, they remain dynamic and agile, well-suited to the ever-growing marketing landscape. Due to the rising competition for attention on digital platforms, tech companies struggle to increase their sales funnels. Therefore, tech firms should utilize potential tools and strategies to demonstrate that they’re a thought leader and can provide substantial ROI.
How does a tech company benefit from growth marketing?
Combining a/b testing, SEO, content marketing, etc., digital growth marketing ensures bringing new customers on board without spending much. Let’s look at the top 4 benefits that growth marketing can fetch for your tech company.
Growing client database
Growing a client database is incredibly beneficial for guiding and scaling sales and marketing strategies. Since customers now demand personalized experiences, that’s where growth marketing is one step ahead of digital marketing, as it focuses solely on building an emotional connection with customers, ultimately increasing the company’s profits fourfold.
For growing client databases, digital growth marketing encourages tech companies to offer something to customers. Something that everyone can afford, from global corporations to small businesses. For instance, a newsletter in exchange for a customer’s email address. When you have a doorway to enter customers’ inboxes, you can provide valuable information or ask their opinions about your offerings. You can also request them to complete short surveys about their online and offline experiences with your brand.
Increased market share
Market share is one of the most prominent metrics for tech companies, saas, and eCommerce businesses for determining a brand’s strength and judging the marketing strategy’s success. It compares a company’s performance against competitors and provides a benchmark to uncover the impact on business results. It also highlights the potential trends and possible threats to the company’s position. Many tech companies use several short-term tactics to increase market share rapidly. However, you need digital growth marketing to grow and sustain your market position.
Through digital growth marketing, tech companies can audit their customers and understand what’s working for them. Competitors are the greatest allies for determining the trends shaping customers’ purchasing behaviour and preferences. You can analyze their channels and tactics to get new clients and find potential opportunities to capitalize on. Competitor analysis is the first step to making data-backed decisions and eventually increasing market share.
When you buy toys, do you look for Legos or plastic blocks? When you buy office supplies, do you search for Post-It Notes or sticky paper? These brands succeed because they’ve embedded their product name in relevant industries. People now mention these brand names instead of generic terms such as Band-Aid vs. bandage, Coke vs. cola, Kleenex vs. tissue, etc.
That’s the hidden power of building brand awareness. With digital growth marketing, tech companies can reach the targeted audience in a measurable and cost-effective way. Moreover, it helps small businesses level the playing field, interact with prospects, and obtain valuable insights from them. It also allows firms to be hyper-personalized with their audience and reach a global marketplace.
The modern customer’s journey is fragmented and based upon multiple touchpoints. To develop a winning bias influencing purchasing decisions, tech companies must engage consumers early. This can only be done through efficient digital growth marketing.
Let’s take the example of Apple, which leveraged digital growth marketing to acquire new customers and boost engagement on digital channels. The Shot on iPhone Challenge allows users to share the best photos they have taken with an iPhone. The best pictures were then displayed in Apple stores, billboards, and online. The campaign showed the iPhone camera quality and generated significant engagement online.
That’s how digital growth marketing enables tech companies and eCommerce businesses to generate new customers and boost online sales. You can also find a competitive edge by offering additional bundles and adjusting the pricing strategy to encourage first-time customers.
What are the top 5 digital growth marketing strategies for tech companies?
Create great stories
Perhaps your technology is robust and impressive but complex; telling a compelling story through videos is the most reliable digital growth marketing strategy. Walk your audience through how your product/service can improve their lifestyle, how your team developed a particular feature, and how you started your company. Firstly, hook people with an easy-to-understand story, then dig deeper into the specifics.
Product hints in pre-launch emails
Did you know that acquiring new leads long before the product launch is possible with digital growth marketing? All you have to do is gather emails through social media promotions, gated content, and onsite offers and create hype. This way, you’ll need to send a reminder when it’s the launch day.
Moreover, tech firms must be creative with their sneak previews and draw the audience into anticipation. Before announcing an upcoming product launch, let the right audience know something exciting is coming. Utilize cross-platform messaging to get people guessing what the news might be. You can also add the art of storytelling: drop hints in short videos and observe comments as the audience adds to the clues. Furthermore, you can also create a QR code that directs puzzle solvers to a sign-up form, where you can provide more hints through email marketing.
Tech companies need to have a company website having a blog section. A company blog is a must to demonstrate thought leadership in an approachable and engaging way.
Suppose you could use your expertise to reach new heights and obtain new awareness. You can do this by collaborating with potential adjacent brands and offering guest posting services, which ultimately allows you to add your website’s link to their websites. This will increase your click-throughs and, eventually, SEO rankings. Besides that, according to Backlinko, long-form content is ideal for backlink acquisition as it gets 77.2% more links than short-form articles.
An influencer is a new buzzword for digital growth marketing – and with a solid reason. 49% of customers rely on influencers’ product recommendations. Influencers occupy a sweet spot between engaging celebrity endorsements and relatable personal recommendations.
Tech companies should collaborate with relevant influencers to achieve a significant reach. However, several influencers make a living by promoting the brand’s products/services. Therefore, their services don’t always come cheap. You can negotiate an affordable arrangement by choosing an influencer whose values align with your company’s. For instance, you can send them products to try in exchange for video coverage of products on their platform.
Utilize client testimonials
Client testimonials serve as efficient peer-to-peer endorsements for your tech company to prospective customers. If your offering serves multiple verticals, collect testimonials for each sector. Through this digital growth marketing strategy, you’ll motivate potential clients to think, “that solution worked for other companies similar to us; it might work well for us too.”
Future of digital growth marketing for tech companies
Every year, there’re multiple marketing trends to keep an eye on. Marketing managers who stay ahead of the curve may find new levels of marketing success. Here are the top digital growth marketing trends we believe tech companies, saas, and eCommerce businesses should benefit from in 2023.
Long-form authentic content
For tech companies that are tight on money, creating authentic long-form content is a powerful growth marketing tool. While this was the year of Instagram and TikTok with their 2 to 5-minute reels, the pendulum is seeing to swing the other way in 2023 with 1500 to 7000 words blog posts becoming the new norm.
AI and chatbots
AI and sophisticated chatbots will become the secret weapon of growth marketers, allowing them to handle customers’ queries while focusing on different tasks. Expanding contact strategy and customer support services with a controlled message will become simpler. Besides that, these chatbots and AI will also collect, analyze, and provide actionable data to improve the customer experience.
New sectors in eCommerce
The center of e-commerce trends is Web3, where companies leverage DeFi trends to boost their profiles. Decentralized finance, or “DeFi,” refers to the blockchain, non-fungible tokens (NFTs), and cryptocurrency – a whole new business realm with novel growth marketing opportunities.
Additionally, other technologies, such as the shared P2P ledger, make for a secure, cheaper, faster, and transparent business. Digital coins are also replacing physical money to acquire a new type of consumer. Moreover, tech firms are investing in uniquely created digital assets, NFTs, as a next-generation trending way for growth marketing.
The key takeaway
Deciding which growth marketing strategies to implement in your tech company hinges on your business needs and customer desires. While we’re moving toward a tech-dominant world, tech companies, eCommerce businesses, and other small businesses must prioritize the digital growth marketing trends they can leverage for significant business growth.
Furthermore, there’s great pressure on small businesses to focus on short-term gains like raising funds or hitting acquisition targets quickly. However, focusing on short-term tactics to supercharge growth is a mistake when the business model hasn’t been adequately developed. Therefore, ensure to have a monetizable and differentiated digital growth marketing strategy for a deeply and widely felt problem.
Finally, a short-term focus will starve the long-term opportunity. But when digital growth marketing is done correctly, you can achieve and sustain long-term profitability even with limited resources.