A closer look at strategic demand and growth marketing strategies

Excuse me, do you happen to know what growth marketing is?

Growth marketing is a holistic and data-driven approach to marketing that focuses on the entire funnel, from acquisition to retention. It involves formulating hypotheses, testing them, and refining or eliminating them based on data. Unlike growth hacking, which is all about quantity and speed, growth marketing is about accelerating qualified demand. The goal of growth marketing is to sustainably achieve measurable business objectives, such as increasing client retention rates, through a variety of strategies and tactics. Growth marketers leverage multiple skills, such as analytics, testing, psychology, design, usability, technology, and copywriting, to get results.

Trends in growth marketing for this year and beyond include deeper data analysis and analytics, increased focus on retention, and seeing the customer's journey through the lens of the entire funnel. Growth marketing is a holistic and data-driven approach to marketing that focuses on the entire funnel, from acquisition to retention, and applies the scientific method to formulate and test hypotheses. Other trends in growth marketing include the use of artificial intelligence and machine learning to personalize customer experiences, the integration of marketing and product teams to create a cross-functional team, and the use of social media and influencer marketing to reach new audiences.

Ok. Can you tell me what strategic demand is?

Strategic demand refers to the process of analyzing and forecasting the demand for a product or service in order to make informed decisions about production, pricing, and marketing. It is an essential component of strategic planning, which involves setting long-term goals and developing a roadmap for achieving them. By understanding the needs and preferences of customers, businesses can tailor their offerings to meet demand and gain a competitive advantage. Strategic demand analysis involves a comprehensive assessment of market trends, customer behavior, and competitor activity, as well as forecasting future demand based on economic and demographic factors. This information can then be used to inform decisions about product development, pricing, and marketing strategies.

Some trends in strategic demand include the use of data analytics and real-time monitoring to identify early-stage trends and anticipate complex market dynamics. Another trend is the focus on creating a forward-focused vision that touches every employee and serves as an actionable way to reach enterprise goals. Additionally, there is a growing emphasis on balancing the ever-changing interests of a company's stakeholders, such as customers, shareholders, and communities, in order to create value. Companies are also increasingly formalizing their business strategies and using them to guide decision-making at all levels of the organization. There is a trend towards looking at a company's product offerings and those of its competitors from the viewpoint of an objective outsider in order to define and satisfy customer needs.

So what is the difference between the two?

An effective growth marketing approach prioritizes experimentation and iteration in order to achieve rapid and sustainable growth. Strategic demand analysis involves a comprehensive assessment of market trends, customer behavior, and competitor activity, as well as forecasting future demand based on economic and demographic factors.

The bottom line is you need to have strategies for both. For startups the focus will lean heavier towards growth strategy, but we all risk losing business without a plan for growth and demand.