Some of today’s best-known companies, including Uber, Dropbox and Google hire growth managers.
And according to Glassdoor, the US national average salary for a Growth Manager is $108,992.
But what exactly do they do?
“The Growth Manager function typically lives at the intersection of marketing and product development, and is focused on customer and user acquisition, activation, retention, and upsell.”
A growth manager is more than a marketing expert. They help their employer grow month by month. And they attempt to optimize not just sales and leads, but metrics such as Monthly Recurring Revenue (MRR).
First off. There is no typical educational background for a growth manager.
Ex-growth manager and Start Me Up mentor Loshini Selvarajah made her way as a successful growth hacker with a degree in international relations and political science.
She ranks passion and a genuine interest in data and numbers above a specific degree.
If you want to succeed as a growth manager, you can spend time getting experience, doing courses and developing your skills.
You can take online courses on sites such as Udemy, Coursera and EdX. You can also find a whole host of resources on Growth Tribe – one of the most well-known brands for learning growth marketing.
Relevant courses could involve those relating to data science, data inputting and data analytics. Being able to work with data and understand what’s going on with your company is important.
And some of the best courses you can get are free and readily available. Google offers some courses on how to navigate its Google Analytics software for free.
Get a foot in the door
Selvarajah highlights the importance of getting a foot in the door to push forward in your growth hacking career.
She speaks of being offered a job in a small company where she loved the company culture and valued what they stood for. So, even though it was a customer support role (involving a pay cut too), she took it.
It’s important to understand that you won’t always be offered your dream job straight away. And you might have to put a lot of hard work into working your way up the ladder within a company.
But companies do a lot of internal hiring, so your chances of getting that dream job will increase as you spend more time there.
You can also integrate growth manager elements into your job
Your job title doesn’t have to be ‘Growth manager’ for you to strive towards increasing your businesses growth.
You can integrate approaches from growth management into any role.
Take customer support or success for example, it’s likely you’ll be working with customers who are often disgruntled and trying to solve their issues.
If you have a customer satisfaction rate of say, 70%, why not aim for 80%? This will help provide evidence for future job applications.
Put plans in place which’ll help you reach your goals.
You can set yourself smart numbers to ensure you’re always striving to improve. This can demonstrate your ability to meet targets and make improvements, regardless of which department you sit in.
Also look at metrics like customer acquisition cost or ‘churn rate’ (the rate of attrition or customer churn, is the rate at which customers stop doing business with you.
It’s most commonly expressed as the percentage of service subscribers who discontinue their subscriptions within a given time period.)
If you like the idea of a fast-paced career where you’re forced to think creatively. This could be for you.