Growth marketing vs. lead generation is a great example of inventing new terms to mean the same thing.
It is possible to find resources online that make distinctions between these ideas. At the end of the day, though, both of them get to the same point, which is to find and convert more customers.
Why do different terms even exist in the first place then?
All About Growth
Growth marketing appeared as a new way to describe specific strategies. All companies have a need to continue growing their customer base if they want to survive as a business.
Some marketing efforts have more to do with basic brand recognition than on getting a sale. Some marketing companies wanted to make a distinction. For companies that didn’t want to waste time, as they supposed, it would be possible to focus on getting as many customers as fast as possible.
As time went on, the need to differentiate firms from each other led to new terminology. That’s also why you see job titles like Growth Hacker, which also refers to a sales and marketing role.
The reality of the situation is that all marketing efforts can lead to increased growth. In fact, it would be a mistake to suppose that efforts spent on branding are a waste.
Building Your Brand is Building Your Business
Companies need to recognize that growth for its own sake isn’t always good. Many of the companies in the tech space that talk so much about growth marketing are the ones that need it least.
Given that we’re a marketing company, that might be a shock to read. What we’re talking about, though, is not that they don’t need marketing.. Nor are we saying that they don’t need more customers.
What we mean is that they need their marketing efforts to focus on getting more of the right customers.
If you already know what your ideal market segment is, you know which kinds of customers are most likely to buy from you. That’s because they’re the ones that most likely need your product.
Going after every possible customer, and trying to close deals that don’t make sense, is only going to hurt your brand in the long run.
Nothing says “we don’t know what we’re doing” quite like a high rate of customer churn. Closing bad deals on solutions that don’t solve customer problems is like anti-marketing. Word of Mouth gets around, and it gets around a lot faster when people have something to complain about.
On the flip side, when you take the time to find the right customers, treat them well, and solve their problems, the goodwill that creates is pure gold.
Reconciling Growth Marketing vs. Lead Generation
We’re in the business of lead generation. That means we help companies find more customers fast. We don’t do it haphazardly, though.
At Smart Funnel, marketing means making a real effort to find the right people. That means searching far and wide to find the people that your solution will work best for.
In the battle of growth marketing vs. lead generation, we’re definitely on the side of growth. But growth needs to have a purpose!
We help grow companies so that they can do more good for more people. If that’s what you want your business to do, be sure to contact us today!
