Why You Need a Growth Marketing Manager
Today’s competitive business environment demands that companies have both growth objectives and a systematic way to measure growth.
Companies can’t afford to remain stagnant, and neither can they afford to lose market share. Many companies hire growth managers to optimise their growth strategies and reach a sustainable business advantage. These growth managers are responsible for spearheading the company’s growth strategy by taking an analytical approach to discover growth opportunities. Here’s an in-depth guide on why you need a growth manager:
1) What is a Growth Marketing Manager?
Their main role is to drive revenue growth by developing new products, cross-selling existing products or services, and optimising the profitability of current products. Growth managers also identify new customer segments that the company can target for future growth.
As a manager, they ensure that the team adopts sustainable business practices for achieving desired results. For instance, a growth manager can opt for a long-term sustainable process or a shorter one that may not hurt the company’s core business.
In addition to driving growth, a growth manager needs to completely understand the company’s growth strategy and help achieve those goals. While it’s the responsibility of senior management to set out business objectives, it’s up to the head of growth to align those objectives with their respective teams to coordinate efforts towards common goal achievement.
2) Key Responsibilities of a Growth Marketing Manager
A successful growth manager is able to identify growth opportunities and has the expertise required to deliver solutions that will help achieve those results. Here are some key responsibilities of a growth manager:
2.1) Driving Growth Initiatives
As a company scales up and expands into new markets, it requires dedicated people to ensure that the growth is controlled and sustained for a long time. A growth manager is responsible for identifying business opportunities that will help the company maximise revenue while balancing costs. They work with cross-functional teams to develop key initiatives, monitor them daily, and check if they are on track to meet milestones.
2.2) Driving Revenue Growth
A growth manager’s primary responsibility is to drive revenue growth by devising strategies to help achieve this goal. They work closely with teams to identify new markets that can bring high returns and develop initiatives that can lift existing revenue streams from different markets.
2.3) Driving Organisational Change
Growth managers are also expected to encourage changes in the organisational structure. They need to suggest changes to processes, identify areas that can enhance productivity, and develop creative ideas for solving challenges within teams.
2.4) Taking Ownership of Projects
A growth manager is not just an advisor; they also take ownership of projects and ensure that they are executed flawlessly. They help teams identify the best approach to take while executing a project, set up milestones, and track progress daily. They also make sure the company meets its goals by keeping all stakeholders involved in decision-making processes.
3) Why is a Growth Marketing Manager Important?
There are several reasons why you need a growth manager at your company, including:
3.1) Optimises the Business
A growth manager ensures that the company is staying profitable and growing at a sustainable rate. When they are hired, their focus is on ensuring the organic growth of the business through continuous product innovation, cost optimisation, and expansion into new markets. They closely monitor milestones to ensure they meet these initiatives within the established timeframes.
3.2) Optimises Business Processes
Companies usually have a process in place for both day-to-day operations and long-term growth objectives. A growth manager takes over these processes to ensure that they work well without lapses or blemishes. They analyse the existing processes to identify gaps and suggest possible remedies for improving the company’s performance.
3.3) Balances Cost and Revenue
Growth managers need to be able to balance cost and revenue while working on growth initiatives. Their job is to identify opportunities to maximise future revenue while ensuring a realistic cost-benefit analysis in return. With their expertise, a growth manager can make the right decisions about which market segment they should target, how many resources they need to allocate, etc.
3.4) Makes Data-Based Decisions
A growth manager takes data-driven decisions that will support business initiatives in the long term. They also use analytics and data mining tools to track the company’s performance, identify areas showing signs of growth, identify opportunities for expansion into new markets, etc.
3.5) Encourages Collaboration Among Teams
Collaboration among teams is required throughout a company to ensure seamless communication and smooth execution of initiatives without duplication or miscommunication. A growth manager ensures that the teams work on the same set of goals and no conflict between teams. They motivate employees to achieve key business milestones while identifying the right cross-functional partnerships to help them achieve these objectives.
3.6) Identifies Challenges and Delivers Solutions
One of a growth manager’s most important roles is identifying challenges in execution and delivery and developing scalable solutions for those challenges. For instance, they need to identify bottlenecks that are slowing down the progress of your team members or the overall company’s growth initiatives. They can then mull over various options for addressing those obstacles before deciding on a solution that works best for the business.
A growth marketing manager can prove to be critical to the growth of a company. They need to have a sound understanding of the business and how it operates. This is why many companies prefer hiring growth managers who have several years of experience under their belts.
If you’re looking for a growth marketing manager, give me a shout (submit this form). With a special focus on analytics setups, marketing automation, data analysis, and traction testing marketing strategy, I provide my clients with growth marketing services to help them attain their business goals.