Growth Principles 1/7
Note to the reader: This is a repost from LinkedIn
As someone who has worked on growth in Search for the past 5 years, I have thought more than I care to admit about the key principles and strategies that can help unlock sustainable growth - here they are:
small g and big G: growth is not Growth
- Pick which g/G refers to what, then stick with it.
- “growth” (small g) refers to the repeatable approach of optimizing the growth funnel: acquisition, churn resurrection, engagement, retention, and churn reduction.
- “Growth” (big G) acts on the core value proposition and requires product-market fit.
- It’s crucial for organizations to understand and prioritize both aspects, ensuring that “growth” efforts align with the overarching “Growth” strategy.
Hope is not a (good) growth strategy
- Unfortunately just because it’s not a good strategy doesn’t stop people from using it
- Relying on hope alone is a common pitfall that many folks new to growth planning fall into, often leading to disappointment and wasted resources.
- Successful growth requires a data-driven approach, clear goals, and a well-defined strategy backed by actionable plans and metrics.
- While hope can provide motivation, it should not be the foundation of a growth strategy.
It’s all about the funnel funnel funnel
- The growth funnel is a fundamental concept that governs the success of any product or service.
- It’s math - it governs the world - please deal with it. I am not trying to throw shade at your product.
- Small changes that impact a large audience at the top of the funnel can often yield better results than big changes targeting a smaller slice of traffic.
- Organizations must prioritize and focus on the most critical stages of the funnel to maximize their growth efforts.
Do these resonate? Feel free to chat with me if you’re at Google for more (hard-fought) growth thoughts and examples on which these are based on.
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