Performance vs growth marketing: What’s the real difference?

When clients come knocking, they often ask the same question: "So... do you do performance marketing or growth marketing?"‍

It’s a fair question. But it’s also the wrong one.

Because, while these two terms sound like siblings in the same digital family, the reality is that they play very different roles. One is designed for speed. The other? For scale. And the best agencies (👋 hi) know how to balance both. Artfully, intentionally, and with real-world, measurable results.

If you’ve ever felt confused about which path is right for your brand, or even what these two strategies actually mean, buckle up. We’re going in.

What is performance marketing?

Performance marketing is the fast, flashy, dashboard-loving cousin in the marketing family. It’s designed to drive direct, measurable results, and it does that by focusing on actions: clicks, conversions, purchases, sign-ups, the works.

‍In plain terms: You put money in. You get results out. You track every pound like it’s a prize truffle.

^{What are the core characteristics of performance marketing?}

• Data-driven: Everything is tracked. If it can’t be measured, it doesn’t exist.
• ROI-focused: Every campaign has a clear objective and a KPI to match.
• Short-term wins: Campaigns are built to perform now, not later.
• Channels of choice: Think paid search (Google), paid social (Meta, TikTok, LinkedIn), display ads, and affiliate.

‍For example: If you’re a B2B SaaS brand launching a new product, you might run Google Ads targeting "workflow automation software." Every click is tracked. Every demo request is counted. If it’s not working? You pivot. Fast.

This is where a performance marketing agency in London shines - driving high-intent traffic, quickly and efficiently.
But... what happens when the ad budget runs dry? When the clicks stop, does your brand still stand?

That’s exactly where growth marketing steps in. It picks up where performance leaves off, building the kind of brand equity, customer loyalty, and funnel optimization that keep delivering long after the campaign ends.

What is growth marketing?

Growth marketing is a different beast. It's slower (at first), smarter (always), and built for long-term, sustainable impact. While performance marketing zooms in on the moment someone clicks, growth marketing maps out the entire customer journey, from brand discovery to loyal ambassador.

‍What are the core characteristics of growth marketing? 

• Full-funnel thinking: Growth looks at acquisition and retention, and referral.
• Experiment-driven: A/B testing is baked into the process. Every assumption gets challenged.
• Multi-channel strategy: SEO, content, email, UX, onboarding, upselling, all on the table.
• Strategic & sustainable: The goal isn’t just growth. It’s smart, efficient growth over time.

‍For example:  You’re a DTC skincare brand. Instead of running just Facebook ads, you’re optimizing your landing pages, creating educational content, building an email welcome series, nurturing your audience, and testing every step.

That’s growth marketing. And if performance marketing is your high-speed sprint, growth marketing is the marathon training plan that helps you win repeatedly.

A good growth marketing agency doesn’t just deliver tactics. It builds systems.

Key differences (and why they matter)

Let’s break it down with a side-by-side you can screenshot and steal.

Why the best agencies do both

Here’s the truth most agencies won’t tell you: you don’t need to choose.

Performance and growth marketing aren’t rivals. They’re partners.
At wonderwork, we’ve built our reputation on being a hybrid. Part performance marketing agency in London, part growth marketing strategist, all results.

Here’s how that plays out in the wild

1. Launch fast, learn faster: We start with performance campaigns to generate data. Early wins? Yes. But also insights we can build on.
2. Layer in strategy: As we understand your audience, we move upstream. Optimizing landing pages, testing messaging, refining UX, and strengthening your email flow.
3. Optimize across the journey: What happens after someone clicks matters more than the click itself. We map out every stage; awareness, consideration, decision, retention.
4. Align to business goals: We’re not here for likes. We’re here to help you hit actual targets. Revenue, retention, ROI. Full stop.

This approach means we’re not just your agency, we’re your growth partner. The one who scales what works and builds what lasts.

A real-world analogy (because why not)

Still fuzzy? Let’s paint the picture:

• Performance marketing is like a really good espresso shot. Strong, fast, energizing.
• Growth marketing is like a balanced breakfast. It takes more time but powers you for the long haul.

You need both. Just not in isolation.

When to use each (and when to combine)

Use performance marketing when:

• You’re launching something new
• You need traffic, fast
• You’re validating product-market fit
• You’ve got a defined, high-converting offer

Use growth marketing when:

• You want to reduce paid media spend
• You’re optimizing customer retention
• You’re building a content or SEO moat
• You’re scaling a proven brand

Use both when:

• You’re ready to grow smarter
• You want quick wins and long-term ROI
• You’re tired of chasing leads and ready to build a legacy

(Pro tip: most brands should be doing both.)

Don’t settle for one when you need both

If you’re still thinking of performance vs growth as either/or, you’re already behind.

The brands that scale? They build fast and smart. They chase conversions and compound interest. They don’t just throw money at ads. They build machines that keep running.

So if you're hunting for a performance marketing agency in London that gets the bigger picture... or a growth marketing agency that can actually drive results now, maybe it’s time we talked.

You bring the vision. We’ll bring the momentum. We ride at dawn.