How To Become a Growth Manager: Step-by-Step Guide

Growth managers are responsible for developing and implementing strategies to increase revenue and grow a company. They work with all departments within an organization to identify areas of opportunity and create plans to achieve desired growth. A career in growth management can be very rewarding, but it is also very challenging. If you are interested in becoming a growth manager, it is important to understand the skills and experience you will need to be successful in this role. In this article, we discuss what a growth manager does, the average salary for this position and the steps you can take to become a growth manager.

What Does a Growth Manager Do?

A growth manager is responsible for developing and executing strategies to increase revenue and grow a company’s market share. They work with data to identify areas of opportunity and then create plans to target those areas. Growth managers usually work in the marketing or sales department of a company and report to the head of that department.

Their responsibilities may include:

• Identifying areas of opportunity for growth within the company
• Developing plans and strategies to target those areas
• Working with data to track progress and measure success
• Creating reports and presentations to share findings with upper management
• Adjusting plans as needed based on results
• Collaborating with other departments to ensure everyone is working toward common goals
• Managing a team of growth specialists
• Training new team members

Growth Manager Salary and Job Outlook

The average salary for a growth manager is $89,095. This figure can vary based on the level of experience, education, industry and geographical location of the analyst.

The Bureau of Labor Statistics expects job prospects for growth managers to increase at a faster than average rate over the next decade. This is due to many factors such as the growing importance of data analysis in marketing. Companies often need the expertise of a growth manager to gather, interpret and leverage that data into effective marketing strategies.

How to Become a Growth Manager

Here are several steps you should take to become a growth manager.

1. Earn a bachelor’s degree in business, marketing or a related field

A bachelor’s degree is the minimum education requirement for growth manager positions. Common degrees held by professionals in this field include business, marketing and entrepreneurship. Some employers may prefer candidates with graduate degrees, but a bachelor’s degree should be sufficient to get started in the field.

While pursuing your degree, consider taking courses that will help you develop skills necessary for the job. For example, if you’re earning a business degree, take classes in marketing, management and data analysis. If you’re earning a marketing degree, take courses in analytics, social media and e-commerce.

2. Gain experience in sales, marketing and customer service

Gaining experience in sales, marketing and customer service is an excellent way to learn about the inner workings of a business. Entry-level positions in these areas can help you develop your skills and knowledge before pursuing a career as a growth manager.

Working in sales or marketing can help you understand how businesses acquire new customers and increase their revenue. Working in customer service can teach you how to interact with clients and provide them with solutions to their problems.

3. Develop strong analytical skills

Growth managers must be able to analyze data and make informed decisions based on the information they find. They need to be able to identify trends in their company’s performance, determine what changes could improve those metrics and develop strategies to implement those changes.

This requires a strong understanding of statistics and other analytical tools that can help you interpret the data you receive. You may also need to use customer analytics software to track your progress over time.

4. Understand growth hacking methodologies

Growth managers use a variety of strategies to increase their company’s customer base. One common strategy is called growth hacking, which involves using unconventional methods to promote a product or service. Growth hackers often use social media platforms and other online advertising techniques to reach new customers. They also frequently analyze data to determine what types of content attract the most users.

5. Be proficient with technology and data analysis

Growth managers must be proficient with technology and data analysis. They need to understand how to use software programs, databases and other tools that help them track their company’s performance and identify areas for growth.

It’s also important for growth managers to have a strong understanding of analytics and metrics. This knowledge helps them interpret the data they receive from various sources and make informed decisions based on it.

6. Stay up to date on changes in the industry

Technology and the way people interact with it is always changing, so staying up to date on industry trends can help you succeed in your role as a growth manager. For example, if you’re working for an app company, you might need to know when new features are added or how ads are displayed on mobile devices.

You should also stay informed about changes in consumer behavior and preferences. This information could impact your strategies and tactics, so being aware of it can help you adjust accordingly.

7. Join relevant professional organizations

The Association for Enterprise Information (AFEI) and the Direct Marketing Association (DMA) are both excellent resources for learning about trends in the field. The DMA has a certification program that can help you develop your skills as a direct marketing professional, while AFEI offers certifications specific to growth hacking.

The Technology Entrepreneurship Network (TEN) is another organization that provides networking opportunities with other entrepreneurs and startup professionals.