A new role has emerged in the tech industry: the Head of Growth. Quite possibly as responsible for the success of the company as the CEO, the Head of Growth focuses mostly on acquiring new customers at a compounding yet sustainable rate.
Requiring more than just a passing awareness of the marketplace, the Head of Growth has to reach deep into his bag of growth marketing tips. Even as growth marketers need to navigate the tumultuous marketplace, they must also be conscious of how much growth will cost, and how lucrative each new customer will be.
Using the growth marketing blueprint forward-thinking businesses have implemented to scale their operations and reach more customers every day should be something you seriously need to consider for your own endeavors.
The visual below from CleverTap outlines famous proverbs and quotes, and what growth marketing nuggets of wisdom can be extracted from each one.
Much can be learned just by revisiting old quotes and sayings, only re-framed towards a growth marketing perspective.
Growth marketers are responsible for bringing in new business– that is– a steady stream of new customers at a compounding yet sustainable rate. While customer acquisition costs may easily crush unprepared businesses experiencing growth, sustainability is the goal for long-term success.
The sustainable part of the equation boils down to the customer lifetime value to customer acquisition cost ratio. If the customer lifetime value exceeds the cost to acquire customers, the business model will likely sustain growth.