What Does a Growth Manager Do?
While a growth manager can sit in product development, they historically sit in the marketing department. The main component of his or her job is to measure campaigns and analyze how successful (or unsuccessful) they were and why. Certain questions that a growth manager grapples with can include What was the return on investment (ROI); How many opportunities and/or leads came from this campaign? Was the public reception better or worse than our other product launches? Why did this campaign fail when it excelled last year? What is responsible for this product’s declining sales? Answering these questions will more than likely lead to one very complicated follow up inquiry…why? In fact, a growth manager’s job isn’t necessarily to solve all of the company’s marketing woes, is to investigate and question with the end goal of setting the company up for success.
We discussed the need of the growth manager to analyze data sets, but a good growth manager will also tie back sales and growth to specific campaigns which can be tedious at best and impossible at worst. Was the sudden influx in snow boots purchases due to the digital marketing campaign ran last month or the recent snow storms?
What Skills Are Necessary to Succeed?
According to a recent LinkedIn search, many employers are looking for growth managers who have experience in (you guessed it) analytics! Because the employee will be responsible for presenting their findings to key executives, a strong background in communications and leadership is preferred. Experience in paid social media and digital marketing are also valued by employers.
What Other Jobs are Similar to This Role?
A LinkedIn Search for a “growth manager” brings up many different job titles that while a bit different, essentially revolve around the idea of analyzing results and developing new ways to increase revenue and engagement. Similar jobs include Marketing Technologist; Paid Social Manager; Growth Hacker; Growth Marketing Analyst; and Growth Strategy Analyst.
What is the Average Salary of a Growth Manager?
The average salary for a growth manager varies greatly depending on the region, state, company and the level of experience a person has. From a search on Glassdoor, the range of salaries are anywhere between $74K and $183K with the average salary roughly being around $120K. A search on Indeed.com varies slightly with the average salary clocking in around $90K per year.
If a business is serious about driving sales and deploying intelligent campaigns that lead to new leads and opportunities, chances are they employ at least one growth manager in their ranks. While a growth manager wears many hats, having knowledge about analytics is crucial to thriving in this role.