Less money spent on marketing, and more upsell opportunities. They look at data and see patterns. The growth manager needs full access to product data, sales data, and marketing data to drive growth. Every growth initiative should be based on data-driven conclusions. Working closely with the company’s growth team and other teams, the growth manager analyzes customer behavior to find the user’s ‘aha moment.
’ The ‘aha moment’ is when a user understands the value of your product, and it’s when insurance email list one-time customers turn into active users. For example, in Facebook’s early days, the growth team led by Chamath Palihapitiya set about determining what retained users in their platform (the aha moment). Based on customer behavior data, they noticed new users who made at least seven friends within the first ten days after sign up would keep using the platform, as opposed to users who made no friends within the first two weeks.
The growth team hypothesized that new users needed to connect with at least seven friends within ten days after sign up. Chamath Palihapitiya passed this insight to the product development team, who developed a feature that helped new users connect with their friends as soon as they signed up. This skyrocketed Facebook’s growth to what it is today, and Chamath Palihapitiya was part of the whole process.