Marketing is More Than Growth: The 3 Parts of a Complete Strategy

Marketing is More Than Growth: The 3 Parts of a Complete Strategy

Becoming a marketing leader goes beyond traditional definitions of growth. It involves integrating the three domains of marketing: brand marketing, growth marketing, and product marketing. Each domain plays a crucial role in creating a complete marketing strategy.

Brand marketing focuses on sharing the story of why an organization exists, creating meaningful and emotional connections with customers. It increases awareness and captures new customers, while also reinforcing the brand promise at every touchpoint in the customer lifecycle. This can be achieved through brand partnerships, drip campaigns, and more.

Product marketing, on the other hand, shares what an organization is doing to deliver on its brand promise. It involves packaging, pricing, and making features accessible and understandable to users. Product marketing ensures that the organization's offerings align with the brand's message and value proposition.

Growth marketing is all about reaching customers to acquire and retain them. It utilizes triggers, channels, messaging, and personalization to bring customers into the product and keep them there. However, it is important to note that growth marketing efforts must align with the brand marketing strategy to ensure that the value promised is delivered. If the brand promise is not fulfilled, customers may churn despite being initially attracted to the brand.

Changes in one domain will impact the others. The growth marketing strategy and brand marketing strategy need to be in lockstep to effectively distribute the brand to potential or existing customers. Siloed marketing teams often struggle to bring these pieces together, resulting in brittle strategies. Integration is key to success in marketing.

Sequencing the changes in each domain can have a compounding impact. Rather than making isolated changes, marketing teams should consider how changes in one domain can support and enhance changes in the others. By strategically sequencing these changes, marketing strategies become more robust and effective.

Proactivity is essential because changes in each domain happen over different time horizons. While growth marketing performance can be measured quickly, product and brand marketing may take months to develop. The impact of these changes can unfold over years. It is important for marketing leaders to proactively monitor internal and external factors that can signal the need to revisit the marketing strategy.

Internal factors such as audience expansion, business model evolution, and product launches should be carefully evaluated to ensure that the marketing strategy aligns with these changes. External factors like macro trends, competitive landscape, and technology or user behavior changes also need to be taken into consideration.

By looking at the intersections of each puzzle piece in marketing, marketing leaders can amplify their impact. This applies to marketing leaders overseeing all three domains, leaders overseeing one domain, or individual contributors focused within one domain. By aligning who, where, what, how, and why, marketing strategies become more cohesive and impactful.

Incorporating the concept of Solomon's paradox can also provide valuable insights when it comes to decision-making and giving advice. Studies have shown that people are better at giving rational and useful advice to others than to themselves. This is because we are more objective and distanced from the situation when advising someone else.

Solomon's paradox stems from the story of King Solomon, who was known for his wisdom and great advice. However, in his personal affairs, he was incredibly shortsighted. One example is his decision to cut a child in half to settle a dispute between two women claiming to be the child's mother. His poor parenting ultimately led to the rise of a cruel tyrant, his son Rehoboam.

Research has shown that when we distance ourselves from our own problems, we are better able to make sensible decisions. This is called eliminating self-immersion. On the other hand, personal wisdom involves the decisions we make for ourselves and our own affairs. General wisdom, on the other hand, refers to the advice we give to others.

To overcome the biases of Solomon's paradox, there are actionable steps that can be taken:

1. Talk to yourself: Ask yourself why you are doing something and what you can do to help. This self-reflection can provide clarity and objectivity.

2. Journaling: Write down your thoughts and feelings about a particular situation. This can help you gain perspective and distance yourself from the problem.

3. Seek advice from others: Ask someone who knows you well, such as a close relative or a best friend, who they think you are most like. Learn about that person and consider what advice you would give them. This third-person identification technique can help overcome biases and provide valuable insights.

In conclusion, marketing is more than just growth. It involves integrating the domains of brand marketing, growth marketing, and product marketing to create a complete strategy. Changes in one domain impact the others, and sequencing these changes can have a compounding effect. Proactivity is essential in monitoring internal and external factors that may require a revisit of the marketing strategy. Additionally, incorporating the concept of Solomon's paradox can provide valuable insights when making decisions and giving advice. By taking these actionable steps, marketers can enhance their strategies and make more informed choices.