Growth Strategy

A Growth Strategy is a plan of action that outlines how a company intends to expand its business, user base, or revenue. This can involve launching new products, entering new markets, acquiring competitors, optimising existing channels, or using a combination of these methods.

Purpose

The purpose of a Growth Strategy is to provide a roadmap for achieving sustainable business expansion. It helps companies set clear objectives, identify opportunities for growth, and allocate resources effectively to achieve those goals.

Ownership

The Growth Strategy is owned by the Marketing Lead on the Product Team, working closely with the Product Manager. On smaller products the Product Manager owns this directly. The Growth Strategy connects to the marketing and growth specialists in Stream Teams who execute acquisition and engagement experiments within their value streams.

Anti-Patterns

• Blind Scaling: Trying to grow too quickly without ensuring the product or infrastructure can handle it, often leading to degraded service or user experience.
• Ignoring Core Users: Focusing so much on new user acquisition that the needs of loyal, existing users are neglected.

• Not Measuring or Iterating: Relying on gut feeling rather than data, or sticking rigidly to a growth plan without iterating based on feedback and metrics.
• Unsustainable Growth: Relying heavily on discounts or aggressive marketing without a clear path to profitability or positive unit economics.