Growth levers are the specific tactics
that growth marketers use to achieve growth goals.
The idea of leverage in growth marketing is that by identifying and focusing on specific growth levers, a marketer can achieve disproportionate results
with less effort or resources
. This is because some growth levers have a greater impact on growth than others. Here are some examples of growth levers in growth marketing and how they work using the idea of leverage:
- Acquisition Lever: This lever focuses on attracting new customers to a business. By leveraging channels that are most effective at driving new customers such as paid advertising, influencer marketing or content marketing, marketers can achieve exponential growth in customer acquisition with minimal investment.
- Activation Lever: This lever focuses on converting new customers into active users or customers who engage with the business regularly. By optimizing user onboarding and activation processes, such as improving the user experience, businesses can leverage this lever to increase customer retention and loyalty.
- Retention Lever: This lever focuses on keeping existing customers engaged and loyal to a business. By leveraging tactics such as personalized communication, loyalty programs, and customer service, marketers can increase customer lifetime value, and reduce churn rates.
- Monetization Lever: This lever focuses on increasing the revenue generated from existing customers. By leveraging tactics such as upselling, cross-selling, and pricing strategies, marketers can increase revenue without increasing customer acquisition costs.
By identifying and focusing on the right growth levers, growth marketers can achieve significant growth with minimal investment. The key is to experiment
, and measure
the effectiveness of each lever, and prioritize those that have the greatest impact on growth