We all know what CXL is, right?
To others who don't know much about CXL and its purpose, here's an overview.
CXL is a platform where you can learn the concepts of internet marketing through various courses and mini-degrees.
Peep Laja is the founder of CXL and a conversion optimization champion. His mission is to make education accessible for everyone 😇. And he means it.
So, why we're talking about CXL now?
I've enrolled in CXL's growth marketing mini-degree last week. And it's going really well.
I've learnt some new concepts about growth marketing, and I'm here to share those with you.
And the good news is that we're going to complete this journey together. 'How are we gonna complete together?' you may ask.
I'll share all the pages from my growth marketing notebook with you guys every week.
So stay tuned by subscribing to my email 📧 list.
Let's get started.
Page 1 from my Growth marketing notebook:
In today's note, we're going to cover the following topics,
- Why I chose a growth marketing mini-degree?
- What is growth marketing?
- Growth marketing vs traditional marketing
- What is experimentation?
- Defining growth hacking
- How you can become a growth marketer?
Why I chose CXL's 'Growth Marketing' mini-degree?
Growth marketing is one of the topics that I heard a lot about from the marketing community.
I've surfed through the internet and found some articles about Growth marketing. But it's not enough for me to learn about growth marketing.
So I decided to find a course that can help me learn growth marketing from fundamentals.
Then, I found this awesome mini-degree from CXl with a massive 112 hours of course content. I was astounded.
I decided to apply for the CXL institute scholarship as I haven't had enough to buy this degree.
Fortunately, last week I received an email from them saying that I got access to their Growth marketing mini-degree.
And here I am, after a week of study to discuss the things that I learnt.
What is growth marketing?
In Growth marketing, marketers conduct series of experiments to continuously learn and optimize their campaigns to achieve the end goal within a given timeframe.
Growth marketing is completely data-driven, and it is well suited for early-stage startups.
How growth marketing differs from traditional marketing?
Growth marketers focus on the entire funnel, while most marketers focus on the top of the funnel.
In growth marketing, marketers run series of experiments as soon as possible within a given timeframe to achieve the goal.
If an experiment fails, they learn from that experiment and apply those learnings to further campaigns to reach the goal within that timeframe.
In traditional marketing, marketers come up with a single experiment/hypothesis that can take a business from position X to Y in a given timeframe. They may or may not succeed with the process.
But when that hypothesis fails, they may waste all the resources and time invested. They may not get a second chance.
Growth marketers constantly experiment as they strongly believe that they don't know everything about their customers, and it's best to conduct A/B tests.
We spoke a lot about experimenting, but what in the world does experimentation mean?
Let's discuss further!
What is experimentation?
Experimentation is setting a goal and defining a series of experiments that help you achieve the goal within a given timeframe.
Goal 👉 Increasing retention rates.
Run a series of experiments to help increase the conversion rate within a timeframe.
To increase the retention rate, you can send an email marketing campaign.
But as a growth marketer, you should not send an email campaign and wait for the results to happen.
You have to analyze whether the email campaign drives the expected results.
Consider the email campaign as an experiment and run an A/B test on it.
Check whether the people who received your email actually come back to your site to make a purchase [Conversion] than people who haven't seen your email.
Now you'll have an idea of whether the campaign works or not.
Then, you can shift your focus on the next experiment/hypothesis. You now know the result of an email campaign you sent. Now you can further drill down to experiment with your email copy.
You can A/B test the email copy to increase your conversion rate further. You can also personalize the email copy to individual customers so that they can feel that personal touch with your brand.
By A/B testing the email copy, you can understand and segment the customers based on the copy they respond to and use this learning to connect with customers the right way in your future campaigns.
This is how experimentation works.
Growth marketing doesn't yield immediate results. They produce results in the long run. As a growth marketer, you have to keep experimenting and learn from those experiments to optimize your future campaigns.
What is growth hacking?
Growth hacking is the popular term of today's startup culture.
Growth hacking is driven by data and a series of small experiments. It is not about creating a perfect solution the first time. It's about coming up with the fast and best solution within a given timeframe.
The term 'Growth hacking' is first coined by Sean Ellis, founder, and current chief executive of GrowthHackers.com.
How you can become a successful growth marketer?
This is the obvious question everyone asks. Here's the answer to your burning question from John McBride.
The components that help you become a successful growth marketer are,
- Analytical skill / Data analysis [Excel/SQL]
- T-shaped marketer [Having one strong channel-specific skill, like SEO]
- Critical thinking, Project management, Leadership
How to become a growth marketer?
Learn one channel-specific skill like SEO and have an overview of other marketing channels.
Before getting into an interview for a growth marketing position, understand the company, their current and previous marketing campaigns, and how you can improve them further.
For example, if they have a product, check how well it works, review its onboarding flow, and suggest tips on how they can improve further.
This will help you land a job as a growth marketer.
That's it. I've shared everything that I learnt from week 1 of my Growth marketing course from CXL.
Feel free to get in touch with me at email@example.com if you have any queries.
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