What does a growth product lead do?
What is the job about?
A growth product lead is responsible for developing and executing strategies to increase customer acquisition, retention, and revenue growth. They work closely with cross-functional teams including product, engineering, design, marketing, and data analytics to identify growth opportunities, prioritize initiatives, and measure and analyze the impact of experiments. They also collaborate with other teams to define product roadmaps, identify key metrics, and develop and launch new products and features. Overall, the growth product lead plays a critical role in driving the growth and success of a company's products and services.
What skills and background should you have?
To become a growth product lead, you need a combination of skills and background in product management, marketing, data analysis, and business strategy. Here are some of the skills and qualifications that are commonly required: (not always but it is a good indicator)
- Product management experience: You should have experience in developing, launching, and managing products, including defining product roadmaps, conducting user research, and working with cross-functional teams.
2. Marketing expertise: You should have a solid understanding of marketing principles, including customer acquisition, retention, and branding etc.
3. Data analysis skills: You should be proficient in data analysis tools and techniques, including A/B testing, cohort analysis, and customer segmentation. (basic principles of coding CAN help but are definitely not required)
4. Business acumen: You should have a strong business sense and be able to identify growth opportunities and develop strategies to capitalize on them. (TLDR: be business orientated)
5. Leadership skills: You should be able to manage and motivate cross-functional teams, communicate effectively, and work collaboratively.
6. Bachelor's or Master's degree in relevant fields: A degree in business, marketing, computer science, or a related field is often required. (Yes, but also NOT always)
Overall, a growth product lead needs to be a strategic thinker, a problem solver, and a creative innovator. They must have a passion for growth and a deep understanding of the customer's needs and wants to help drive the company's success.
How much can you earn?
The salary of a growth product lead can vary depending on several factors, such as the size and location of the company, the specific industry, and the candidate's experience and qualifications. According to data from Glassdoor, the average base salary for a growth product lead in the United States is around $120,000 per year, with a range between $80,000 to $170,000.
However, some growth product leads at larger companies or in highly competitive industries can earn even more than that, with salaries reaching over $200,000 per year. Additionally, bonuses, equity, and other benefits can significantly increase the total compensation package for a growth product lead.
Who is hiring? 👇🏻