All About Growth PMs

Product managers are the people in a company or an organization who are responsible for overlooking a project. They generate ideas about the development of the product. Product managers are considered to be one of the essential pillars that provide support to an organization or a company. 

There are many types of product managers. In the developing years, there has been a rise in one of the types of PMs: The Growth PM.

Who is a Growth Product Manager?

A product manager broadly defines someone who manages a product. So, a “growth” PM manages the growth part of the product (email, in-app, etc.). It’s slightly similar to PMM, but the difference is that the growth PM has to set the roadmap of what tools are built and experiments run to enable growth. Additionally, growth PMs are more tightly tied to revenue and engagement metrics.

Definition-wise, Growth product managers are the product managers who are responsible for identifying the growth of a company or an institution and directing the teams accordingly to reach the goal. They show involvement in growth marketing.

                        growth pm          

Growth PM

Different companies view the role of growth PM differently. Sinduja Ramanujam, a senior PM at Microsoft, sees it as a unique role at an intersection of product development and marketing. Willie Tran, a growth PM at Dropbox, has a different opinion. Willie explained in this talk at tech business school that the growing role is mostly centred around product development, not marketing. Willie says a growth product manager can rethink a business model.

Role of Growth PM

The role of a Growth PM starts with assessing the growth goals of a company. A growth product manager begins his job by gathering quality data which is the basis of growth product management. The growth PMs also track the metrics that help them to identify when the opportunity for improvement arises, and also to assess the results of any project introduced in the market. This is done with the help of KPIs and other metric models. 

                                     role of product manager

Growth PM not only works internally but also looks at the external aspects. They have the responsibility to analyze customer behaviour through user feedback, usability tests, and other surveys which helps them to understand the needs and demands of the customers. The Growth PMs also make tests and surveys for the users. 

About Growth PM

The definition of the role has shifted based on company needs. Initially, it was all about optimizing for sign-ups – email acquisition, working on registration/sign-in funnels, working on metrics and funnels from ad spend, etc. Then it became more of a focus on re-engaging long-inactive users – everything from new content to bringing them into new funnels for re-registering them. Now it’s becoming more about the cross-pollination of features, finding ways to get users who engage with one product set introduced to others (plus everything else listed above). This increased growth marketing.

Difference between a Conventional PM and a Growth PM

Conventional PM

Growth PM

  • Responsibility is confined to a single product.
  • Responsible for overlooking multiple products.
  • The primary stakeholder of a conventional PM is the customer.
  • The primary stakeholder of a growth PM is the business of the company or the organization.
  •   Some of the skills of a conventional PM include problem-solving ability, tending to be risk averse, analytical skills, etc. 
  • Some of the skills of the growth PM include experimental nature, a curious personality, and an excellent ability to collaborate.

 

Skills of a Growth PM

  1. Communication skill: This is the most basic and most significant skill required by a growth PM. A growth PM must have strong communication skills to increase growth marketing and have positive user feedback from clients.

  2. Scientific Mindset: Scientific mindset not only includes being experimental but also having the temperament to be curious and skeptical about the processes during the product life cycle. A growth PM with a scientific mindset is not shy to face challenges and do thorough research about everything.
  3. Having a better understanding of the user journey: Growth PMs should know every step of product development and also have an understanding of the users’ experience with a product. 
  4. Analytical Skills: Growth PMs should have good analytical skills which will help them to analyze the gathered data and use it to their advantage. They can also use multiple analytical tools to evaluate the user journey, product metrics, and user feedback.
  5. Diplomatic Interpersonal Skills: A growth PM needs to have good communication skills and the best negotiation skills. They should practice the art of saying no and persuade the customers to their favour for the greater good.

Scope of a Growth PM

The basic role and responsibility of a Growth PM are the same in different companies and organizations. However, there might be some variations depending on the size and maturity of a business. The team of a growth product manager consists of engineers, marketers, data scientists, designers, and more. 

The scope of a Growth PM is better in well-established companies where the Growth PMs have their team and better resources to give better results. In start-ups or small companies, Growth PMs need to prove their value over time. This is because they don’t provide excellent results quickly as they don’t get sufficient means and face risky experimentation in a project.

Conclusion

Growth PMs have proved to be a crucial link between the users and the product. They help in the growth of a product during its development by understanding what a customer wants.

A career as a Growth PM is promising.

Summary

The article tells in detail about the Growth of Product Managers. Growth product managers are the product managers who are responsible for identifying the growth of a company or an institution and directing the teams accordingly to reach the goal. A Growth PM gathers data, track metrics, and also analyze customer behaviour to understand their needs and demands. The Growth PM is responsible for overlooking multiple products. The primary stakeholder of a growth PM is the business of the company or the organization. The skills of a growth PM include communication skills, having a scientific mindset and a better understanding of the user journey, analytical skills, and diplomatic interpersonal skills. All this helps in getting positive user feedback as well as enhancement in growth marketing.

Sign up to weekly updates from Prowess