Ignite Your Growth Engine: Strategies for Success
Find and define the right growth strategy for your Industrial business.
“Find and define the right growth marketing strategy for your industrial business.”
– Jim Robertson
Tune-Up Your Industrial Marketing Performance
Identifying the growth engine inside your business is a critical first step in your marketing journey.
Whether your engine is already running or you need to begin assembly, taking this action correctly leads to improved customer acquisition and sustainable growth.
An authentic marketing strategy relies on a system rather than random acts of magic. Like most systems, it rewards consistency with long term growth.
But firing without aiming first is a bad idea.
Defining what drives your business's future growth is essential to ensure that your efforts, resources, and energy aren't wasted.
In marketing, your Growth Engine can be simplified into three main categories:
Sticky
Viral
Paid
While there are variations and subsets, we can cover a lot of ground by focusing on these three.
Every industrial business needs a powerful yet reliable, growth engine.
⚙ The Sticky Growth Engine
Don’t let the name put you off. The Sticky Growth Engine is focused on customer retention and leverages core values like trust, consistency and quality.
The idea is to keep an existing customer returning for more by providing exceptional value and building your customer success journey with strong relationships. It's about creating "stickiness" with your brand.
In a sense, you're not just selling a product or service but also building a positive customer experience around your brand. You become the go-to source for your customers' needs, and they're happy to spread the word about their positive experiences with you.
Key elements of a sticky growth engine:
High-quality products/services: This is the foundation of any successful b2b marketing engine. Nothing else matters if your products or services aren't up to par.
Excellent customer service: This is essential for building trust and loyalty.
Strong relationships: Get to know your potential customers and their needs. Build rapport and make them feel valued.
Community building: Create a sense of belonging around your brand, which people are proud to be a part of.
The Sticky Growth Engine supports your existing clients with solid fundamentals.
⚙ The Viral Growth Engine
As the name suggests, this engine is all about word-of-mouth and demand generation, whether digital marketing or physical. The goal is to get people talking, encourage brand awareness and share your content with their networks en masse.
Think of it like a virus (but in a good way!). Your message spreads quickly and organically from person to person, with support from a content marketing strategy.
Viral is not always a key focus for industrials; however, the principles, particularly around creating great, shareable content, are valid.
Key elements of a viral growth engine:
Compelling content: This is the fuel that drives viral growth. Create informative, entertaining, or inspiring content to engage your ideal new customer.
Social media: This is the platform where your content can spread like wildfire. Make sure you have a strong social media presence and that you're actively engaging with your audience.
Influencer marketing: Partnering with influencers can help you reach a wider audience and get your message in front of more people.
Referral programs: Encourage your customers to spread the word about your brand by offering them rewards for referrals.
Viral growth hinges on great content and a strong connection with your industrial buyers.
⚙ The Paid Growth Engine
This engine uses paid advertising to reach a wider audience, generating leads and sales growth.
Think of it like a booster rocket. It can give your marketing efforts a quick and powerful boost, for a price.
Despite what you may think, paid channels—like a Google ad—are sustainable in the long term, provided that the measured Return On Investment (ROI) is reasonable.
Key elements of a paid growth engine:
Targeted advertising: Make sure your ads are reaching the right people. This could be through demographic targeting, interest targeting, or retargeting.
Compelling ad copy: Your ads must grab attention and persuade people to click.
Landing pages: Make sure your landing pages are optimised for conversions. This means they should be clear, concise, and easy to navigate.
Tracking and analytics: Track your ad campaigns carefully to see what's working and what's not.
With the right approach, paid marketing can deliver measurable, sustainable results.
Drive Your Business Forward
With the right mix of growth strategy and tactics, you can identify and build a marketing engine that will propel your business forward.
It doesn’t have to be smoke and mirrors; with a targeted approach, accurate execution and precise measurement, you’ll have a finely tuned growth engine purring underneath your business.
There’s no time to waste; the world is waiting for you!
Whether you’re building, blasting, measuring, making, consulting or crafting, we can help your business thrive.
