Growth Marketing Faq

What is Growth Marketing?

Growth marketing is the collection of technology and processes that activate customer data to deliver a net increase in an organization’s customer base. Effective growth marketing will increase the value of customers over time and decrease customer churn. Attract new customers. Retain existing customers. Grow customer relationships.

 

What is self-service BI for marketing?

Self-service BI for marketing puts the responsibility for resource management in the hands of users. It yields faster response times resulting in better innovation, and the ability for data driven decisions in real time. Cloud based solutions like Domo provide an excellent platform for self-service BI.

 

What is self-service Business Intelligence for marketing?

Self-service Business Intelligence for marketing puts the responsibility for resource management in the hands of users. It yields faster response times resulting in better innovation, and the ability for data driven decisions in real time. Cloud based solutions like Domo provide an excellent platform for self-service Business Intelligence.

 

What is a digital marketing funnel?

A digital marketing funnel is a visual description of the path a consumer takes from becoming aware of a brand to a loyal customer. It’s important for marketers to understand their digital marketing funnel to enact effective marketing and reach consumers at the right time with the right message.

 

What is Lead Acquisition?

Lead acquisition is a term describing the process of identifying, collecting, and centralizing leads for a brand. This takes place after lead generation and is an important step in ensuring leads are accessible and useful, which saves time and money for the organization.

 

What is modern-day virtualized commodity hardware?

Cloud services provide robust platforms of virtual or hosted hardware which can be purchased OnDemand or reserved for specific time intervals such as monthly or annually. When purchasing reserved virtual hardware on an annual basis, discounts of up to 40% or more are common. This hardware includes servers, processing and compute resources, databases and other machine learning and deep learning tools.

 

What is centralized data governance?

Data governance refers to the systems in place to regulate and distribute an organization’s data. When governance is centralized, data is available to the entire team in one location, and users do not experience discrepancies from various data sources or rely on certain employees to distribute data.

 

How to activate my customer data?

Customer data activation is the process of turning raw customer data into insightful information. Important components of data activation are collecting and cleaning data regularly, storing it in a centralized location, and creating engaging and informative reports that lead to action.

 

How do I measure media performance?

Measuring media performance is not a straightforward or simple task, and there are many different systems to do so. Most methods start with defining goals, determining measurable KPIs for those goals, and tracking progress towards those KPIs. KPIs do not need to be monetary, but must be quantifiable.

 

How should I allocate my digital media spend?

Businesses use many different methods to determine optimal media spend allocation, including Media Mix Modeling and Multi-Touch Attribution. MMM aims to understand the interdependencies of media channels and MTA helps determine the optimal spend levels and media mix for all campaigns.

 

How do I measure my advertising investment?

Advertising investments can be measured through Return on Investment (ROI or MROI) or Key Performance Indicators (KPIs). To calculate ROI, companies must track the cost and profit of each advertising campaign. KPIs are more flexible and track a measurable value tied to a marketing goal that is not necessarily profit driven, such as increased website traffic.

 

What is tech powered marketing?

Tech powered marketing relies on technology as a main component of the marketing cycle and is becoming the industry standard. Technologies, such as data collection platforms, AI, and machine learning, are used to understand the customer lifecycle, track KPIs, and optimize media performance.

 

How is technology used in marketing?

Data collection and analysis technologies should be used throughout the marketing cycle. It is important to track marketing efforts and consumer behaviors in order to optimize media spend, identify choice leads, and build effective marketing strategies that efficiently convert prospects to customers.

 

What is a marketing tech stack?

A marketing technology stack is a combination of systems working together to collect, identify, diagnose, and allocate marketing activity to achieve a personalized customer centric outcome.