Marketing is More Than Growth: The Three Domains of a Complete Strategy

Kazuki

Hatched by Kazuki

Jul 04, 2023

5 min read

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Marketing is More Than Growth: The Three Domains of a Complete Strategy

In the world of marketing, it is crucial to have a comprehensive strategy that covers all aspects of your brand, product, and growth. Marketing is not just about driving growth; it involves brand marketing, product marketing, and growth marketing. Each domain plays a unique role in building a successful marketing strategy.

Brand marketing is the domain that focuses on sharing the story of why your organization exists. It goes beyond just promoting your product or service and instead aims to create a meaningful and emotional connection with your target audience. By encapsulating a clear company story, visual identity, and narrative positioning, brand marketing draws in prospective customers who may be less familiar with your product. It helps them relate or aspire to your brand, creating a strong foundation for building customer loyalty and advocacy.

On the other hand, product marketing is all about showcasing what your organization is doing to deliver on the brand promise. It helps customers understand the value behind each product and how it is different from alternatives in the market. Excellent product marketing highlights the positive impact that your product will have on the user, making it more appealing and desirable. It is essential for potential customers to have a clear understanding of what your product offers and why it is the best choice for them.

Finally, growth marketing focuses on how you reach customers to acquire and retain them. It encompasses various strategies such as triggers, channels, messaging, and personalization to bring customers into the product and keep them engaged. Growth marketing is crucial for both acquiring new customers (acquisition) and retaining existing ones (retention). It ensures that your brand reaches potential or existing customers through various channels, ultimately leading to business growth.

It is important to note that these three domains of marketing are interconnected and rely on each other for success. For example, strong brand marketing has a halo effect on what you can achieve through paid channels in growth marketing. By establishing a strong brand presence and identity, your product marketing efforts become more effective as well. Additionally, your growth marketing strategy needs to align with the value propositions of your product and brand to ensure that the right audience is targeted through the right channels. Aligning the "who, where, what, how, and why" of your marketing strategy creates a cohesive and impactful approach.

Now, let's shift our focus to the intriguing concept of Substack Pro. Substack, a platform that supports independent writers, came up with a structure called Substack Pro that aimed to provide financial security to writers. The internet had revolutionized journalism but had also disrupted its traditional business model. Substack wanted to show that their model was trustworthy and reliable, so they took on the risk on behalf of the writers. Through Substack Pro, writers would be paid for a year of work, regardless of how their publication performed.

This program allowed Substack to absorb the risk and demonstrate their commitment to writers' success. In return for financial security, Pro writers agreed to let Substack keep 85% of the subscription revenue in the first year. After that, the writer would keep 90% of the subscription revenue. This arrangement ensured that Substack took on most of the risk, making it an attractive opportunity for writers who wanted stability and financial support.

It is important to note that Substack sees these deals as business decisions, not editorial ones. They do not commission or edit stories, nor do they hire or manage writers. The writers remain the owners of their publications, and they write for their own publications, not for Substack. Substack's only requirement is a commitment to a minimum publishing frequency to ensure that writers are dedicated to their work. They evaluate writers based on their audience size, engagement on social media, and the respect they have among their readers and peers.

Substack's goal is to host a broad array of voices because they believe that diversity of thought is essential for healthy discourse. They understand that not every writer will be universally loved, and sometimes those who face opposition are the ones most deserving of support. This is why Substack values the importance of a free press, where heroes can be misunderstood as villains and villains can be seen as heroes. History has shown us the complexity of perception, and Substack aims to provide a platform for diverse voices to be heard.

In conclusion, a complete marketing strategy entails brand marketing, product marketing, and growth marketing. These three domains are interconnected and rely on each other for success. Additionally, Substack's innovative approach with Substack Pro highlights the importance of supporting independent writers and providing financial security. By taking on the risk and offering stability, Substack has created a platform that fosters diverse voices and promotes healthy discourse.

Three actionable advice for a successful marketing strategy:

  • 1. Invest in developing a strong brand identity and storytelling. This will create a meaningful connection with your target audience and differentiate your brand from competitors.
  • 2. Ensure that your product marketing clearly communicates the value proposition of your products and highlights their unique features. This will help potential customers understand why they should choose your product over others.
  • 3. Align your growth marketing strategy with your brand and product messaging. Identify the right channels and target the right audience to maximize the impact of your marketing efforts.

By incorporating these three pieces of advice into your marketing strategy, you can create a holistic and effective approach that drives growth and builds long-term customer relationships.

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