So what is Growth?
Growth is a mixture of marketing, product, and engineering.
It’s different from old-fashioned marketing, where the funnel differs.
As you can see from Coelevate‘s image above, marketing tends to look at each individual part of their funnel, yet concentrates on the awareness & acquisition segments.
Growth looks at the funnel holistically, looking to see where it can influence any part to achieve the growth metric.
What’s a growth metric?
A growth metric is dependent on the product, but essentially it’s a value that shows growth over time.
For example, it could be daily users or monthly visitors.
Leads, registrations or downloads are all example of inputs into a growth rate.
Influencing a growth rate
The growth rate is affected by influencing any part of the funnel, and the goal is to create a plan that builds interaction between these layers that leads to authentic growth.
Your strategy may include growth hacking to quickly boost a specific layer as part of your strategy to improve a product or program of work.
How does Product Growth differ from Marketing?
Marketing tends to be a separate team, whereas Product Growth requires a combination of teams such as engineering, design & data. This combination is because we’re trying to influence the overall growth rate rather than just the awareness & acquisition layers.
Ok, What’s next?
Greig works with you to understand you and your product, then works across the business to define and create your goals.
We then work together to create your growth strategy and how a product team influences this.