Growth Manager function typically lives at the intersection of marketing and product development and is focused on customer and user acquisition, activation, retention, and upsell. The Growth Manager usually reports either to the CEO, the vice president of Product Management, or the vice president of Marketing.
Product Manager is a professional role which is responsible for the development of products for an organization, known as the practice of product management.
Difference Between Growth Manager and Product Manager
Growth Manager This role is more purely concerned with growing traffic, users, engagement, and ultimately revenue. they are responsible for
- selecting and integrating these products into the company’s analytics framework.
- working on their own or in partnership with the analytics team to provide dashboards and testing tools as services across the organization.
- help the company define its growth objective.
- provide customer insight, by blending data with a deep understanding of user needs, habits, and perceptions developed through targeted interviews, usability studies, and customer feedback.
- prioritizing growth initiatives and product changes.
- the catcher and champion for product requests from outside the growth team.
- must master statistical reasoning, understand how to design effective experiments, and develop a quantitative intuition for interpreting user experience data.
- conversant with data analysis and the best tools for retrieving, manipulating, and visualizing data including tools like MySQL, Excel, R, and Tableau.
Product Manager owns strategy, road mapping/planning, feature definition, reporting, and idea management just to name a few. As part of the process of road mapping and prioritizing features, they will certainly take growth into consideration. they are responsible for
- Ideation solicits ideas for new products from others and contributes ideas for new products.
- Market Analysis maintains constant surveillance and awareness of the market and has been able to effectively identify customer needs and trends.
- Competitive Analysis maintains awareness of competitive products, potential competitive products, competitors, and competitor capabilities.
- Preparation of Voice of the Customer Plan develops a plan for collecting the voice of the customer (VOC) data early in the development cycle.
- Customer Needs Definition develops an effective understanding of the customer needs balancing the information collected.
- Requirements Development works with the team to develop a comprehensive set of requirements that address all defined customer needs and that is complete.
- Enhance Value Proposition balances out requirements with the cost to maximize the value proposition to the customer.
- Product Positioning & Strategy do a good job of integrating overall company strategy, product line plans and strategy, competitive analysis, and customer need into an effective product strategy and position in the marketplace.
- Product Forecasting uses a reasoned approach to develop to develop forecasts of customer demand and maintain forecasts as customer demand changes.
- Portfolio Planning provides the needed analysis to support product portfolio planning. If the Product Manager participates in portfolio planning with management.
- Project Management: The Product Manager works effectively with the project manager, helping to plan the project, provide guidance, and monitor the project results.
- Plan Test Markets & Beta Tests: During the development effort, the Product Manager plans any required beta test programs or test market programs.
- Promote Product promotes the product to customers, analysts, social media, and the press.
- Monitor Product Results monitors product performance by tracking key performance indicators including revenue, cost savings, margin, market share, customer feedback, and other indicators identified.
- Management Reporting: The Product Manager provides regular and ongoing reporting for management-level operational reviews.
- Manage Product Lifecycle determines when actions are needed to upgrade, improve, revise or reposition products, or when actions are needed to revise product promotional programs and product pricing.