High tech companies need growth managers to pinpoint their products’ growth opportunities, develop strategies to fill those opportunity gaps, increase company revenue, and motivate customers to adopt the product. The growth manager (GM) role cannot be understated. It feels more like hacking growth.
What is the role of the growth manager in an organization?
- Ideas for initiatives to create growth originate in virtually all functions in the organization. The Growth Manager is the catcher and champion for product requests from outside the growth team. Further, the Growth Manager must implement a framework for prioritizing growth-specific product improvements, and organizing the testing rhythm.
What does a strategic growth manager do?
Growth Managers are typically responsible for selecting and integrating these products into the company’s analytics framework and working either on their own or in partnership with the analytics team to provide dashboards and testing tools as services across the organization.
What does growth marketing manager do?
“A growth marketer’s core function is to identify marketing channels, solutions, ideas that will efficiently drive new customers to the brand and increase revenue,” Griffith told MarketerHire. — as a marketing channel, but they also run constant cheap, iterative tests to make sure their ideas can work.
What is a growth operations manager?
The Growth Operations Manager is responsible to the Chief Growth Officer (CGO) and the two Sales Directors for operating all of the processes that facilitate the growth of BroadReach, for providing accurate and timely information to facilitate good business decision making and to help bind the two sales channels into a
What does growth team do?
Growth teams help increase the rate of customer acquisition, retention, and revenue by optimizing products and inventing new marketing channels. Growth teams are made up of engineers, designers, data scientists, and analysts who constantly identify potential experiments to try out.
What makes a good growth manager?
A successful growth manager will work tirelessly to find creative ways to drive acquisition, engage users, and retain customers. When you crack the egg, growth managers are data-driven pros with a creative touch, who take every opportunity to transform leads into brand champions, and ultimately make the company grow.
What excites you about being a growth specialist?
You can expect to learn new skills, new tools and to grow in your strength, versatility and competence in this job, together with a team that is eager, inclusive, and excited to challenge and support you in your work.
Why is marketing growth important?
Growth marketing goes beyond the top of the funnel. When done right, it adds value all the way through the marketing funnel by attracting users, engaging them, retaining them, and finally turning them into champions for your brand. Growth focuses on the full funnel — while marketing usually focuses on top of funnel.
Why do we need growth in marketing?
Building a highly personalized approach to marketing has been shown to cut acquisition costs in half, lift revenues by up to 15%, and increase the efficiency of marketing spend by 30%. Looking further down the funnel, growth marketing generates greater rates of customer retention and satisfaction, as well.
What skills are needed for growth marketing?
What skills do growth marketers have?
- Marketing. This is a given.
- Data analysis. Data isn’t useful unless it’s actionable.
- Quantitative Modeling.
- Experimental Process.
- Front-end development.
- Engineering Awareness.
- Product Management.
- Customer Experience.
How do I hire a growth manager?
Types of growth professionals
- Have the experience to understand what really impacts a company’s growth from both a product and marketing perspective ✅
- Be able to look at the company holistically to understand how to create sustainable growth whether it’s partnerships, pivots, customer service or more ✅
What is digital growth manager?
Identify, develop, and implement digital marketing activities/campaigns in focus market segments for personalized, targeted communications. • Keep track of industry trends and develop innovative digital marketing ideas to maintain RADWIN as a leader in the industry. •
When should you build a growth team?
Ideally, you should only be considering building a growth team when your startup is at the product and marketing fit stage. It’s also at this stage where your marketing efforts are geared toward looking for strategies and tactics to boost your customer acquisition, activation, and retention efforts.
How do you grow a team?
7 Ways to Build a Team Built for Growth
- Hire new skill sets.
- Cultivate diversity.
- Look for shared vision.
- Create a culture of “psychological safety”
- Prioritize communication and collaboration.
- Include your banker.
- Reward the behavior you seek.
What is growth operations?
The Growth Operations team is at the root of the entire Growth structure: Marketing, Sales, Business Development and Success. Our role is to ensure that data flows correctly and on time across all of these teams to maintain and improve an efficient marketing stack.
Why Every High Tech Company Needs a Growth Manager
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What Is a Growth Manager?
A growth manager is in the business of doing everything and everything that will improve a company’s revenue. This comprises everything that occurs between acquiring new consumers and converting them into active clients. A general manager will also look for strategies to reactivate dormant clients while simultaneously reducing expenditure expenditures (like marketing costs). The growth manager will not be able to raise the company’s sales just on his or her intuition. In order to derive patterns, they should rely on hardcore data.
Involvement in and approval of proposed growth initiatives is the responsibility of the growth manager.
- The growth manager reports to a senior executive, such as the chief executive officer.
- In summary, the growth manager examines user behavior in order to increase the number of active users.
- They examine data in order to identify patterns.
- It is essential that every growth endeavor be founded on data-driven conclusions.
- The ‘aha moment’ is the point at which a consumer realizes the importance of your product, and it is the point at which one-time buyers become active users.
- Based on customer behavior data, they discovered that new users who established at least seven friends during the first ten days of signing up were more likely to continue using the platform than those who did not make any friends within the first two weeks of signing up.
- In response to this discovery, Chamath Palihapitiya shared it with the product development team, which used it to create a feature that allowed new users to connect with their friends as soon as they joined up.
Chamath Palihapitiya was involved in the entire process, which resulted in Facebook’s meteoric rise to where it is now.
What Do Growth Managers Actually Do?
The particular responsibilities of a growth manager may differ from company to organization, but the primary task is to identify development opportunities and create efforts to fill gaps. A general manager is supposed to make decisions that will enhance income while decreasing spending.
Gather User Insights
Growth managers are employed by high-tech firms to identify chances to enhance revenue while reducing costs by obtaining user input from customers. In order to do his or her job properly, the growth manager must crunch data from user behavior utilizing analytics tools, A/B testing tools, and other business intelligence tools. When the amount of available user data is minimal, the growth manager will organize attempts to obtain input from customers using surveys, questionnaires, and other means.
Ensure the Business Is Winning in the Market
The growth manager has three primary tasks in order to guarantee that a firm is successful:
- Identify and establish the growth strategy that will propel the company to the next level of success. Based on data-driven insights, the company has developed a growth strategy. Ensure that the growth team and other department teams are working together to implement the growth strategy. During the implementation of the growth initiatives, the growth manager collaborates closely with the analytics team, marketing, product designers, product development, and other teams
- Increase conversion rates through optimizing the sales process (i.e., moving users along the sales funnel)
Customer Acquisition and Retention
In order to attract new customers, push leads down the sales funnel, upsell, and nurture current customers, growth managers identify user behaviors and develop experiments and growth initiatives that follow those trends. This leads to the development of methods that encourage product users to use the product, such as real estate buyers and sellers, in order to discover the value of the digital platform.
Define Growth Objectives
A firm’s growth manager should assist the organization in defining its growth target. The growth manager will assist the organization in determining where to concentrate its efforts on growth by studying user data. For example, if a large number of users abandon a platform shortly after signing up, should the firm concentrate on client retentionstrategies instead?
Prioritize Growth Initiatives
The growth manager is in charge of selecting growth initiatives based on their likelihood of success, the potential benefit from the initiative’s success, and the expense of putting the concept through its paces to see whether it works.
Create a Growth Plan
The general manager will next develop a roadmap of growth strategies that will be tested. The growth plan is comprised of a roadmap of potential growth opportunities. In addition, the growth manager creates key performance indicators (KPIs) that will be used to track the progress of the growth strategy. Following product changes, for example, if the growth push is aimed at increasing customer retention, they may monitor Orders Per Active Customers (i.e., the average number of orders placed on the platform during a certain timeframe).
Execute the Growth Plan
The growth manager is responsible for involving the whole business in the execution, tracking, and processing of expansion efforts. Each growth team will have a methodical approach to pushing growth initiatives, which will be tailored to the company’s goals. In most cases, the growth manager and the growth team work with user data and analytic tools, such as Google Analytics, to categorize users based on their behavior and patterns of usage. User patterns can be based on a variety of options, such as:
- The channel via which the product was discovered, for example, an email referral, a Google search, a social network referral, and so on
- The activity done on the platform, for example, joining up, uploading a property to sale, browsing a property, and so on
- And The amount of time that was spent on the platform
A wide range of other variables, such as geography, age, and job titles, can be used by the growth team. Buyer personas are then created by combining many options into one. Customer insights (growth initiatives) are passed to the product development team based on the results of the testing (using A/B testing tools such as Optimizely). The growth manager will address queries such as why customers are not placing any purchases based on the results of the testing.
Growth management is an iterative process that involves experimenting with growth initiatives, reviewing the outcomes, making adjustments, and repeating the process over and again.
Data Infrastructure Before Growth Management
Clearly, consumer data and analytics are essential to the success of a growth manager. Without client data, the growth manager’s first responsibility will be to establish a data architecture that will allow him or her to evaluate consumer behavior and run tests. Despite the fact that the vast majority of high-tech firms build their own data infrastructure, many organizations opt to employ Data Software as a Service (SaaS). They contain everything a growth manager may possibly need to explore with the information.
A growth manager should be familiar with the many types of data infrastructures.
Product Development Before Growth
In a product development life-cycle, the growth manager enters the picture near the end of the process, during the iterative maintenance and improvement stage. Commercial products go through five stages of life, which are as follows:
- Product development, introduction, growth, maturation, and decline are all covered.
The efforts of the growth manager keep the product in the maturity stage, preventing it from entering the decline stage. Sales grow and stable at a high level during the maturation period of the product. The general manager’s primary responsibility is to uncover opportunities, new markets, and product upgrades that the organization has not previously investigated in order to maintain the platform competitive. Because technological advancements are unavoidable, growth managers must keep abreast of the latest developments in the technologies they employ.
Characteristics of Successful Growth Managers
You may already infer certain essential abilities from the growth manager’s job description, such as knowing how to utilize data tools and design experiments, organizing teams and presenting ideas, analyzing user behavior data, and so on. One characteristic distinguishes a good growth manager from a bad one: the growth manager’s mentality. A growth manager’s thinking must be trained to be strategic, analytical, objective, creative, and smart in order to be effective. What makes an effective growth manager?
- Fluent in data analysis and data processing tools such as analytics tools, data visualization tools, A/B testing tools, Excel, and other spreadsheet programs
- And The ability to correctly assess data on client behavior is required. Extensive knowledge of various customer acquisition channels, such as search engine results, paid advertisements and email referrals
- Organic traffic
- And social media referrals, among others
- A thorough understanding of customer behavior, as well as the ability to guide a customer through the buyer’s journey Their skills are T-shaped: they have a broad knowledge of a variety of topics and are experts in one or two areas
- Knowing how to convert data into actionable information
- As part of diagnosing the sales funnel, growth managers combine data on user behavior with their understanding of user needs (gleaned from research and feedback from customers). Experience in leadership, including the ability to coordinate cross-functional teams to achieve a common goal A good growth manager is experimental at heart, and he or she embraces failure while using the results to draw actionable conclusions. She has a background in both online and offline marketing as well as statistics and funnel development. The ability to take initiative and see them through to completion without supervision has been demonstrated by the self-starter1. Extensive project and product development experience
Where Can You Work as a Growth Manager?
Growth managers are required by small, medium, and big technological organizations. As a growth manager, you may find employment in a variety of tech-oriented firms, ranging from real estate technology startups to financial technology companies. All you need is a little bit of expertise getting prospects and moving them down the sales funnel. Acquisition of new customers, leading customer activations (assisting consumers in seeing the value of the product), upselling (persuading customers to purchase more expensive items), and maintaining current customers will be the primary responsibilities of your growth manager.
How Can You Become a Growth Manager?
Do you have any previous experience dealing with analytical tools such as Google Analytics or other similar programs? Are you capable of identifying and managing development opportunities? Are you able to upsell? Have you ever been in charge of a successful marketing strategy? Although a marketing or business degree is advantageous, it is the practical experience and abilities that are most important. If you can train yourself to be an excellent growth manager, you won’t need to go to school to become one.
If you are enthusiastic and experienced in sales and marketing, but do not meet the qualifications for a growth manager role, you may consider applying for the sales enablement manager post.
Sales enablement managers have the opportunity to take use of business tools and chances to build growth management skills while working in their positions. Find out more about the profession of a sales enablement manager!
Every Company Needs a Growth Manager
Increasing revenue and profits is a primary aim for most businesses, and it is the duty of every department inside a company to contribute to the achievement of this goal. Growth Managers — sometimes known as Growth Hackers, Growth Project Managers, or Heads of Growth — are a new position created in recent years by technology businesses to primarily focus on growth. Leading technology businesses such as Facebook and Pinterest are rethinking their approaches to generating growth and delivering breakthrough achievements by considering product development and marketing as linked services rather than as separate functions.
Our interviews with more than a dozen Growth Managers at fast-growing businesses were conducted as part of an entrepreneurial research project for Harvard Business School, in which we investigated what they are doing to establish a growth function within their organizations.
The Growth Manager is often responsible to the CEO, the vice president of Product Management, or the vice president of Marketing, depending on the company.
In terms of tasks, the Development Manager’s work consists of three primary components: first, to create the company’s growth strategy; second, to coordinate and execute growth programs; and third, to optimize the revenue funnel and increase sales.
As data is the lifeblood of a company’s growth function, growth teams devote a considerable portion of their time and resources to developing the infrastructure that allows for user behavior monitoring as well as scientific experimentation and targeted advertising. While many growth teams have unique requirements that necessitate the development of their own proprietary data infrastructure, many others prefer to work with commercially available SaaS tools. These include anything from analytics tools such as Adobe Analytics and Google Analytics to A/B testing tools such as Oracle’s Maxymiser and Optimizely, to name a few examples.
- Once the data is collected, the Growth Manager must assist the organization in defining its growth target, which is often accomplished by answering two fundamental questions.
- For example, should resources be allocated to user acquisition or to churn reduction efforts?
- Selecting key performance indicators and developing reports on these measures for distribution within the business are two methods of doing this task.
- Growth Managers make use of the information they have to provide answers to some of the disturbing “whys” that a firm may be experiencing.
- Why don’t consumers come back to the program once they have downloaded it the first time?
- These insights are then sent back into the product team, where they are used to prioritize product priorities, which in turn has an influence on the product roadmap, as detailed further down this page.
- Virtually all functions within the business contribute to the development of initiatives that promote growth.
- A strategy for prioritizing growth-specific product changes and coordinating the testing rhythm must also be implemented by the Growth Manager.
Sean Ellis, creator of Growthhackers.com and former vice president of marketing at LogMeIn, presents a straightforward methodology for choosing project ideas based on three fundamental criteria: feasibility, feasibility, and feasibility.
- If the reform is effective, what will be the ramifications? Confidence in the likelihood that the test will provide a positive result
- The cost of doing the test
When considered as a whole, these three factors can aid in the negotiation of priority among a large number of ideas. A Growth Manager’s primary focus is on planning and implementing tests after establishing a clearly defined growth target and prioritizing a roadmap of ideas to test with their team. If the test is to be carried out within the product, the Growth Manager is in charge of overseeing the product development process to bring the change about. A Product Requirements Document (PRD) or a brief slide presentation that articulates the product modifications that are required is frequently used to kick off the process.
So, what characteristics do a good Growth Manager possess?
It is necessary for the Growth Manager to be proficient in statistical reasoning, understand how to design effective experiments, and acquire quantitative intuition when analyzing user experience data.
Growth Managers must also be well-versed in the complete range of acquisition channels at their disposal in order to be effective.
- Owned media includes email, Facebook, Craigslist, Twitter, Pinterest, and mobile applications. Paid: advertisements (mobile, web, video, television, radio, search engine marketing, affiliate marketing), sponsorships SEO, public relations, and word-of-mouth are examples of earned media.
Each channel has its own set of benefits, trade-offs, and quirks that must be considered. Knowledge of the channels that are most effective in reaching a product’s target demographic is essential for successful marketing campaigns. Additionally, the Growth Manager must be creative and strategic in his or her thinking, as well as possess strong leadership qualities. In particular, because the Growth Manager must align all market-facing functions to a shared growth objective without having direct authority, and because the Growth Manager must build a growth team whose culture is suited to the challenging and experimental nature of the work, this last point is extremely important.
By comparing the behavior of retained users against that of churned users, the early Facebook growth team discovered that discovering and connecting with at least 10 friends during the first two weeks following signup was a critical driver of new user retention.
With an optimized flow for new users, the Pinterest growth team was able to raise new user activation by more than 20%, according to the company.
This ultimately resulted in higher conversion rates.
In the next years, it is expected that the Growth Manager will become a regular feature. Many organizational innovations begin with startups and then spread to larger businesses that desire to function in an entrepreneurial manner. This is true of many organizational innovations.
What is a Growth Manager? And How to Hire One
Every company wants to develop, but only a small percentage of them takes the time to lay a solid foundation with the help of a growth manager. If you look at the development of a few successful organizations, you will see that many of them have a professional growth manager who is responsible for their long-term success. To be more specific, not only a growth manager, but a whole growth team is required. Growth is meaningless if it is not able to be sustained over an extended period of time.
However, if you are unable to keep them, they will not help you build your business.
In addition to this, growth managers are responsible for laying the foundation for a comprehensive plan that leads to long-term growth.
What is a Growth Manager?
A growth manager is responsible for finding a company’s growth prospects and overseeing the efforts of the company’s team to close the gaps created by these possibilities. The growth manager establishes objectives and coordinates efforts to achieve these objectives. This is accomplished by rigorous methods that include the phases outlined below:
- Cooperate with several departments in order to find development possibilities throughout the whole organization. Create a variety of approaches to taking advantage of these chances
- Prioritize tasks based on their importance, their likelihood of success, and their ease of completion
- Work with the engineering, design, and product teams to put tests in place as rapidly as possible
- Evaluate the findings and make necessary modifications. Formulate a process in response to the findings
Growth managers vary from growth hackers in that they use a methodical approach to growing their businesses. The majority of growth managers are of the growth hacking school of thought. Not every growth hacker, on the other hand, possesses the skills and talents essential to become a great growth manager. A growth hacking attitude is what generates the urge to be continually experimenting in order to improve your business. Growth managers, on the other hand, differ from growth hackers in that they follow organized growth strategies rather than using shortcuts.
Product Development Before Growth
Despite the fact that every firm wishes to expand, not every company is prepared to do so. Before you begin to engage in expansion, you must first invest in product development until your target audience is enthusiastic about your product and your company. If you recruit someone to commit their time to a full-time growth job before you have achieved product-market fit, all of your efforts will be for naught. Even if you have the finest growth manager on the planet, your clients will not make it through the acquisition phase.
Experiments need a significant investment of time and resources.
How to Organize a Growth Team
The best method to create a growing team isn’t always the best way to structure any team. Every firm has a unique organizational structure and a unique set of requirements, and this should serve as the foundation for organizing the growth team.
Some firms have an entire team devoted only to the pursuit of growth. Those mid-sized to big businesses who have already achieved product-market fit and wish to accelerate expansion may consider this option. A growth team is often comprised of various combinations of the following roles:
- The best method to structure a growth team is one that works for you. Every firm has a unique organizational structure and a unique set of requirements, and this should be used as a foundation for organizing the growth team in each organization. Some firms have an entire team devoted only to the pursuit of new business growth opportunities. Those mid-sized to big businesses who have already achieved product-market fit and wish to accelerate expansion should consider this option. An organization’s growth team will normally include a variety of combinations of the positions described below:
Alternatively, other businesses have growth specialists distributed across many departments or teams. This may entail placing a growth manager on the marketing team, for example, who will collaborate closely with members of other teams.
How to Hire a Growth Manager
Growth managers live and breathe data analysis and problem-solving. They are experts in their field. That is to say, development managers must be a combination of analytical and creative thinkers. Finding an individual with the appropriate blend of experiences might be difficult, but there are a few things you can do to put yourself in the best possible position to find someone. One method of identifying a suitable match is to seek for entrepreneurs. When someone starts from the ground up, it’s already a good indication that they possess certain attributes that are essential for becoming an effective development expert.
- Keep in mind that a failure does not negate the importance of the learning experience.
- Being a founding member of a fast-growing business is also a solid sign that the applicant has the potential to be a successful growth manager in the future.
- Incubators are ideal venues to look for persons with these characteristics.
- This may entail joining a growth-oriented Facebook group or attending growth-oriented marketing events in your area.
- You should hire a growth manager who has at least a few years’ experience managing people with diverse backgrounds ranging from development to design.
- If you’re looking to hire a growth manager who will execute rather than manage – comparable to a growth marketer job description – the individual you choose should have extensive experience in digital marketing and company development.
Characteristics of Successful Growth Managers
Despite the fact that the characteristics of your ideal growth manager are determined by the unique characteristics of your company, there are a few characteristics that you should look for when evaluating candidates. The following attributes are demonstrated by successful growth managers: Mindset that is open to new possibilities. Engineers, designers, and product marketing professionals must be inspired by growth managers’ excitement for testing ideas in order to put experiments into action.
- Data is the fuel that drives a company’s growth, thus being able to assign meaning to data is critical to the success of a growth manager in his or her role.
- Growth necessitates the involvement of numerous individuals with varying levels of experience, and the growth manager must understand how to coordinate their efforts.
- As a T-shaped sort of expert, the ideal growth manager has a wide awareness of several areas that span from SEO to paid advertising to Google Analytics to landing page design and then a deep understanding of one or two of those topics, such as conversion rate optimization (CRO).
- An important aspect of the growth manager’s job description is gaining an understanding of how consumers engage with the product as they use it.
- A growth manager must be aware that the majority of trials will not provide the desired outcomes, but that they can still provide a pleasant experience for the team.
- Running a growth plan entails overseeing numerous efforts at the same time, which may be challenging.
- Implementing an imperfect MVP quickly is preferable than spending a large amount of time and money on a flawlessly formulated hypothesis in the majority of circumstances.
- The ultimate objective of every experiment conducted by the growth manager is to develop a procedure that will aid in the expansion of the organization.
- Growth managers are responsible for evaluating growth prospects throughout the whole organization, which necessitates a thorough understanding of several areas.
Leadership experience in a group setting. Because the growth manager will not always be in charge of the execution of growth initiatives, it is critical that your applicant has extensive experience managing the efforts of others.
The Growth Manager Job
If you’ve established product-market fit, the next phase is to pursue growth that is built on a foundation of long-term client relationships. This involves focusing on the whole customer lifecycle. Hire a growth manager, who is frequently the first employee of the company that is only focused on growth, to guarantee that your company is planted firmly on solid footing. A effective growth manager will put in long hours to come up with new and innovative strategies to increase acquisition, engage users, and keep customers happy.
In the event that you hire a brilliant growth specialist with the appropriate skill set and who helps your firm maximize its efforts across the board, you will be glad you made the investment.
He is the author of numerous internationally acclaimed books on software configuration, speaks Spanish, ballroom dances, and is the founder and owner of The Product Company and Squibler.
An essential job in any organization is that of a growth manager. This position is held by a variety of individuals. For those who are unfamiliar with the term, a growth manager or growth team is a position that often falls between marketing and product development. They are frequently responsible for facilitating the flow of information between marketing departments and research & development divisions. Thus, growth management talents are frequently a combination of those from marketing and those from research and development.
- Furthermore, a growth manager is frequently tasked with the responsibility of client retention and up-selling (the process of selling existing customers additional products or services).
- As a result, these individuals generally hold positions of authority inside the organization.
- After some time has passed, an individual will work his or her way up the corporate ladder, gaining more qualifications (such as an MBA) along the way.
- Increasingly significant than ever before, the role of growth manager has emerged as a result of the software industry.
- It seems like every day, a new version of software is released by a different firm.
- As a result, organizations aiming to compete in this area rely on their growth managers to keep them up to date on the latest developments.
As a result, in the software sector, a growth manager is a vital member of the management team.
Growth Manager Job Description
Although the growth manager job description (growth manager JD) will differ differently from one organization to the next, every organization (especially those in the software industry) is required to have one. There are three important roles that will be included in an area growth manager job description. Individuals interested in applying for one of these highly sought after roles should keep these tasks in mind while preparing their CV. First and foremost, a growth manager will be responsible for defining the company’s growth strategy.
- Secondly, a growth manager will be in charge of coordinating and implementing the growth strategy that was outlined in the first task.
- Finally, it will be the responsibility of a growth manager to ensure that the revenue funnel is optimized.
- Every business seeks to maximize its income, which entails maintaining a steady pace of growth over time.
- A chief growth officer is a frequent term used to refer to a growth manager in the business world.
- The main difference between a chief growth officer and a chief marketing officer is that a growth manager is often involved in both product development and marketing.
Revenue Growth Manager Salary
The remuneration of a revenue growth manager will fluctuate from firm to company and will be influenced by considerable changes in the cost of living. The typical growth manager compensation will be in the range of $150,000 per year, according to the Bureau of Labor Statistics. According to the person’s geographical location, this will differ. An account growth manager pay in San Francisco or a growth manager salary in New York will pale in contrast to a growth manager compensation in South Africa when viewed through the lens of the strategic growth manager salary compass.
For example, someone in this type of position may be offered equity in the software firm, which may be in the form of stock options, in exchange for their services.
Another benefit of being a development manager is that they may anticipate to have a lot of free time to spend with their families, children, and to travel.
Finally, a growth manager may look forward to working in a spacious office with a beautiful view! Some of the other benefits that individuals should be aware of are as follows:
As a complement to the discipline of growth management, a new field known as growth marketing has seen an increase in popularity recently. The goal of a growth marketing team is to devise and implement experiments that will increase the growth metrics of a certain target market segment or industry. In essence, the purpose is to bring together the domains of marketing and business development. Growth marketing is distinct from the field of growth manager in that it has little to do with product development and is simply concerned with the metrics of the marketing team in a certain region.
It is critical to evaluate the differences between brand marketing and growth marketing.
The ultimate purpose of marketing is to bring in new clients to an existing business.
Because growth marketing is a young and developing sector, some people have even designated themselves as “heads of growth marketing.” The chief marketing officer, or CMO, is a position that is comparable to the head of marketing in some aspects; however, this employee reports directly to the chief marketing officer, or CMO.
Director of Growth and Development Job Description
The term “director of growth operations” can be used to refer to a variety of different people who are interested in pursuing a career in this field. A handful of the most frequent growth job titles are director of growth and development, director of learning and development, operational development head, and a variety of other titles that are common in the industry. At the end of the day, the term “growth officer” refers to the person who is in charge of the company’s growth and development.
This individual may be in charge of a variety of various tasks and duties.
This individual will be in charge of identifying areas of deficit that provide development possibilities and implementing strategies to improve the growth metrics identified.
Head of Growth Skills
When looking at the job description for the head of growth, there are a lot of talents that will be required. The remuneration of a growth leader is often rather high. As a result, the post of head of customer growth is frequently sought for. Communication, development, and sales are just a few of the abilities that are required by growth product managers. A product manager will understand how to conduct productive meetings. He or she will be able to be effective and productive while without wasting anyone’s time in the process.
A product manager will also be responsible for providing assistance and training to others.
In addition, a product manager will still be required to communicate with consumers on a regular basis.
This expert will need to have a command of the English language in order to assist in converting leads into clients. In addition, with such a diverse range of tasks, the head of growth will need to be adept at prioritizing and managing his or her time effectively.
Digital Growth Manager
With the advancement of technology, the position of digital growth manager is becoming increasingly popular. In most cases, the digital growth manager job description is for someone who reports directly to the company’s chief marketing officer. This candidate will be responsible for identifying chances for client development through digital channels. This individual will be responsible for the management and development of the company’s website, which will be focused on B2B and B2C client acquisition.
- It is possible for someone to obtain more experience in this position and so take on greater responsibility.
- Because of the expansion of the software business and the growth of the software area, the role of digital growth manager is now more crucial than it has ever been.
- This comprises both software and hardware.
- The digital growth manager’s primary responsibility is to expand a company’s online presence.
5 Signs You Need a Growth Marketing Manager
Growth marketers with a track record of success are in more demand than ever before – both at MarketerHire and throughout the marketing industry. We talked to three experts on when and how to hire a virtual assistant. It might be said that growth marketing is on the rise right now. Since Facebook’s growth team made the platform popular, the term “growth” has become a buzzword in business and digital marketing — and it has even become a marketing specialization in its own right. MarketerHire is the source of this information.
- According to a Singular poll of 700 organizations conducted in 2019, 41 percent have a growth marketing manager on their marketing team (whether full-time or freelancers), and that figure is projected to climb in the future.
- Companies are attempting to diversify their marketing techniques as advertising prices continue to rise and privacy-first iOS upgrades take hold.
- “They enable you to cast a wide net and experiment with a variety of channels,” he stated.
- It’s no surprise that everyone wants a growth marketer.
But how can you determine whether you require one of these services? And how should you go about approaching the recruiting process in order to discover the best possible candidate for the position? We reached out to three professionals in the subject for their opinions.
- At MarketerHire and throughout the marketing business, growth marketers with a track record of success are more in demand than ever. We polled three experts to find out when and how to hire a virtual assistant. To put it another way, growth marketing is on the rise these days. Growing a business has become a phrase in business and digital marketing ever since Facebook’s growth team made the platform popular. It has even become a marketing specialization. MarketerHire is the source for this information. MarketerHire’s monthly hiring trends report consistently shows that growth marketing is the most in-demand marketing position — and we aren’t the only ones who have seen this trend. According to a Singular poll of 700 organizations conducted in 2019, 41 percent have a growth marketing manager on their marketing team (whether full-time or freelancers), and that percentage is projected to expand in the future. Why? Companies are striving to diversify their marketing techniques as ad costs continue to rise and privacy-first iOS upgrades become commonplace. According to Matthew Mozzocchi, head of major accounts at MarketerHire, growth marketers should examine their existing marketing mix to uncover growth potential. His explanation: “They enable you to cast a wide net and experiment with a number of different approaches”. What’s more, growth marketers aren’t afraid to “roll up their sleeves,” as Mozzochi called it, and do exploratory testing on potential new channels, which makes them even more appealing to businesses trying to make efficient hires. Nobody wants to be a growth marketer, which is understandable. The question is how do you know when you require one? Moreover, how should you go about the recruiting procedure in order to discover the best possible candidate for the position? The question was posed to three specialists in the field of communication.
Why (and when) it’s worth investing in a growth marketing expert
One excellent incentive to hiring a growth marketer is that you can’t really go wrong with them. The function is adaptable and changes shape in response to the demands of the organization. Here’s how we characterize the position of the growth marketer at MarketerHire: In marketing, a growth marketer is someone who conducts continuous, iterative testing at various stages of the funnel and utilizes the findings to build data-driven plan revisions that improve key performance indicators. Consider them to be a CMO-lite, or a marketing manager with a contemporary approach.
It is possible that you may encounter a number of traditional business challenges if you do not engage a growth marketer:
- A brief period of rapid growth on one or two channels, followed by stasis (and a decrease in conversion rates throughout the marketing funnel)
- There is a lot of advertising expenditure, yet there is very little return on advertising spend. The implementation of a haphazard sponsored social media plan that is cut and paste and not customized for each platform
That is something no founder — or investor — wants. So, when is it appropriate to engage a growth marketer? There is no inappropriate moment to implement this strategy in a company’s lifespan.
- Starting from zero to one, growth marketers help startups construct their go-to-market strategies for new goods and establish a pillar channel for communicating with their target customers. Growth marketers are frequently employed by later-stage organizations to improve performance on stagnating channels in the short term, investigate new channels and tactics, and oversee marketing experts or marketing agencies.
Growth marketers, on the other hand, can have a very significant influence in a few specific situations. Continue reading for additional information on when to recruit growth marketers — as well as how to assess their abilities.
How to know you need an expert growth marketer
For this article, we consulted with three experts to determine when it is appropriate for a firm to begin searching for a growth marketer. This is the point at which they advise beginning work on a job description.
You are a start-up founder but have no marketing experience.
Marketing isn’t something we suggest learning on the job, but it’s something that a lot of entrepreneurs find themselves doing out of necessity. The situation in which the creators of DTC company Bottlecode found themselves was described as follows: With no dedicated marketing staff, the firm was in its early stages and striving to optimize the returns on its early paid social initiatives while remaining cash-strapped. “It was quite difficult to comprehend whether or not we were doing things correctly.” Drishay Menon, the creator of Bottlecode, spoke with MarketerHire.
- Was it necessary for them to remain patient?
- Customer service should be rethought.
- They engaged a growth marketer to find it out, and if you’re having trouble answering these sorts of questions, a growth marketer can definitely assist you, too.
- “A growth marketer has to be knowledgeable with a wide range of digital methods, if not all of them,” says the author of the book.
You’re driving a good bit of traffic, but growth on your pillar channel has stalled.
No need to fear if a channel was previously driving conversions but has stopped doing so for some unknown reason or reason. The role of growth marketers may be divided into two categories. They have the ability.
- Determine whether or not you are genuinely saturated on your pillar channel. Growth marketers, according to Fu, may answer inquiries such as: “Is there anything else I can do here?” Is it possible that we’re not looking into the channels deeply enough? Which is more important, a spend problem or a product problem? Which is more important, a conversion problem?”
- Find fresh growth channels to help you get your business back on track. Growth marketers can build up new channels and demonstrate their return on investment (or lack thereof) if you identify certain platforms you’re interested in and establish a budget for them.
If you’re thinking about trying out new marketing channels, Glass recommends that you don’t do it yourself.
In the same way that you wouldn’t perform house renovations by yourself, she explained. “You’re going to employ a contractor.”
You have a new product to launch, but have no idea how to build a go-to-market strategy.
Take a deep breath and take a step back before launching your new-product rocketship. Do you just expect people to flock to your product or service when they hear about it? ‘I have a cold, harsh splash of truth sauce for you,’ says Oyekan: “These things don’t just happen on their own own.” To achieve product-market fit and scale a new product, “you really need a growth marketer,” Fu explained. “Any time you introduce a new product, you really need a growth marketer,” Fu added. Any time a new product is introduced, a growth marketer is essential in determining how to achieve product-market fit and how to expand the product.
Bic is well-known for its lighters and pens, but the company’s scent was a flop.
You’ve found product-market fit, but your team is stretched too thin to explore new channels.
You should be celebrating if your startup has achieved product-market fit and people are actively seeking you out and telling their friends about you! That represents a significant achievement. And you’ll almost certainly require the services of a growth marketer. Finding product-market fit may be a difficult task for even large marketing teams. When it comes to advertising, you need to ramp up spending in a significant (but efficient!) way, yet there are only so many hours in the day. According to Fu, the typical way of thinking is: “In-channel, we can profitably acquire customers — now let’s test seven other channels and figure out where else we can profitably acquire customers.” A new growth marketer can help companies make the move from early-stage growth to more mature, multi-channel optimization and development.
You’re spending a lot on ads, but not getting a lot of ROI.
When you invest in sponsored advertisements and do not get a return on your investment, it may be quite frustrating. They were perplexed when Glass came into contact with a customer in this situation. “They’re asking themselves, ‘Why aren’t we growing?’ Our brand is well-known around the world.'” After all, because the company’s founder wanted people to notice their products, they had been concentrating on impressions. Investors, on the other hand, are more concerned with conversion rates than with impressions, as Glass explained.
Glass cut the company’s advertising budget in half and restructured the company’s ad structure and targeting.
Expert tips on hiring a growth marketing manager
Our panel of experts provided us with their best advice on how to hire a growth manager. What is the best way to determine whether your expectations are realistic? And how do you determine whether a candidate is up to the task?
Don’t expect a growth marketer tobea channel specialist. Expect them tomanagespecialists.
In order to be a growth marketer, you do not need to be an SEO master, email marketing manager, or content marketing expert in addition to other skills. Those specialists play critical roles, but they are also fairly isolated inside their own fields of expertise. “The growth marketer sits on top of all of that,” Oyekan explained, ensuring that all of your experts are working toward the same long-term goals as your company. So a growth marketer does not have to be all things to all people, but they do need to know how to manage people.
“That’s normally associated with having control over larger portions of a company,” he stated further. Those applicants will be able to see how various members of your marketing team can work together to achieve maximum effect.
Give them a chance to think holistically about all your channels.
According to Glass, after you begin talking to possible candidates, “be explicit with your requirements and ask questions about current difficulties you’re attempting to resolve.” Even if the problems don’t appear to be related, make a list of them. An excellent growth marketer understands how different channels interact with one another and how modifying your use of one channel may help you extend your reach through another. According to Oyekan, “They’re looking at the whole picture rather than being so focused on one one approach or channel.” This means they’re not so focused on one one approach or channel, and they’re taking the big picture into consideration.
If they can make educated guesses about potential interchannel connections during an interview, that’s a promising indicator.
Ask about testing.
Despite the fact that the top growth marketers tend to have excellent intuition and extensive expertise, they do not just follow their feelings. The professionals with whom we interviewed test, test, and test some more — and they go beyond A/B testing to get the best results. They frequently conduct A/B/C testing in order to have a better understanding of how tiny adjustments affect their strategy. In an interview, Oyekan proposes that you constantly raise the question, “How do you test your development efforts?” as a starting point.
According to Fu, “I’ve interviewed hundreds of candidates.” The gap between surface level thinkers and deeper thinkers will become apparent very soon if you allow them to speak freely.
If you allow them to speak, you will rapidly notice the difference between superficial thinkers and deeper thinkers.”
Prepare for an audit.
Growth marketers are obsessed with data, and it isn’t only for testing purposes. Any growth marketer worth their salt would want to analyze their data and search for possibilities to automate more of their processes. When it comes to evaluating your Direct to Consumer or e-commerce firm, one of the first things they’ll look at is the relationship between your typical customer’s lifetime value (LTV) and your average customer acquisition cost (CAC) (CAC). If that ratio is less than 3-to-1, it is unlikely to be beneficial in the long run, according to Oyekan, who recommends the involvement of a growth marketer.
Giving your top two prospects an opportunity to review a portion of your data and provide recommendations is something you should consider.
Make certain that you respect their decision-making process.
Be flexible about strategy.
It is expected that applicants would advise adjustments, whether significant or little, to your growth plan because you will be hiring a growth marketer to assist you in rethinking your growth approach. It’s okay if the approaches they recommend are unknown to you; that’s the goal. Experimenting with different strategy pivots might result in significant rewards. Take, for example, Ocean Spray, a cranberry-centric brand that is planning to enter the TikTok market in 2020. When Nathan Apodaca, also known as @420doggface208, posted a TikTok video of himself sipping cran-raspberry Ocean Spray while skateboarding to Fleetwood Mac’s “Dreams,” the video quickly went viral.
They might have stood back and watched the UGC flood in, but instead they went ahead and started one themselves.
According to the CEO of the firm, Yahoo!
Not every growth marketing strategy will create such a big impression, but they will almost always force you to step outside of your comfort zone.
Keep in mind that everything is an experiment. Oyekan explained that if something isn’t working, “you can adjust methods depending on what you’re seeing in the data.”
How to make your growth hire stick
The short response is that there are no assurances. Growth marketers are in high demand — and even if you already have a growth marketer on your team, they may decide to leave in today’s competitive job market. Hire with MarketerHire to ensure that you’ll never be without a growth marketing professional. We can match you with a new or replacement growth marketer in as little as 48 hours, and we pre-vet the growth marketers on our platform so that you don’t have to do any of the work yourself.