May 22, 2022

How to hire and structure a growth team

How to hire and structure a growth team

startup’s growth stage! Everyone in an organization should be prosperous, right? A Growth team can optimize products and help businesses to increase customers acquisition, retention, and revenue by innovating new marketing channels. But building a growth team is not an easy task! And startup business owners have become more and more obsessed in building and structure growth teams. In fact, many newly-formed business Founders are searching on sites like AngelList to hire growth hackers and marketers to join them. Growth hacking is a revolutionary type of marketing strategy and many startups are focusing on using growth hacking to increasingly get more customers and revenue.  

 

In this article, you’ll get tips on How to hire & manage a Growth Team, so let’s continue. 

What is a Growth Team? 

A growth team is a group of highly-skilled, versatile, data-driven, and fearless professionals and is driven by only one goal: searching and finding different strategies, tactics, and techniques that can/could higher-up a startup’s customer acquisition and revenue generation ratio. In short, it is a cross-functional and collaborative group made of experts that not just work to improve your marketing and sales, but also analytics, engineering, and product management. 

The need for a Growth Team in Startup 

The most crucial for a startup is Growth. — Pointed out by Paul Graham, In an article titled Startup = Growth, what Graham is actually pointing out here is accelerated, exponential growth within a short span of time. That will only happen when you have a team of aggressive and creative experts who don’t mind taking a little bit of risk every once in a while to get more realistic results.

 

A growth team is more effective at analyzing the results of your previous marketing campaigns in order to find ways to quickly enhance how your customers will interact with your product than a conventional marketing team. In other words, a Growth Team will use every advanced hacking tip to find more realistic ways to increase customer acquisition, retention, and revenue. And this is why a newly established busk needs a Growth Team to climb up the success ladder.

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 How to Build a Growth Team?  to gather professionals to build up your own Growth team is by asking Growth Hackers to join your Team. You can search for them on social platforms or marketplaces. However, before asking Growth hackers to join your team you have to make sure that you have everything equipped for your Growth Team to prosper. 

 

There are four important aspects to consider when laying the foundation for your growth team: the startup’s growth stage, your goals, your key metrics, and last but not least support from key stakeholders.

 

1. Know your startup’s growth stage

The newly established business needs to be measured at what stage it is at present. One may only consider building a growth team when the newly formed business is at the product and marketing fit stage. At this stage, you can already find the ideal distribution channel where to promote your product or service.

2. Setting up your goals

What do you want to achieve through growth hacking? You need to have a specific Goal just like all other marketing strategies. Because Performance indicators (KPIs) will track and monitor your growth team based on what your goals are.

3. Establishing your key metrics startup’s growth stage

KPIs and OMTM (One Metric that Matters) are the two crucial metrics you’ll need to determine from the very start.

KPIs are measurable values that will tell you and your growth team how effective a growth hacking tactic is in achieving your newly-formed business milestone.

While developing growth hacking experiments, one metric that your growth team will need to care about the most is OMTM. It is very startup’s growth stage crucial for two reasons First, It helps the growth team know which metric to focus startup’s growth stage on so that the business gets the most profit from it. And Second, It helps your growth team and points to the next thing to focus on in your newly-formed business overall marketing strategy.

4.Support of key stakeholders startup’s growth stage

Growth hacking gives indicative results, however, some strategies used by startups in the past were considered too risky or illegal for comfort.

The Craigslist growth hack used by Airbnb delivered spectacular results that’s why it is one of the most well-known growth hacking tactics. However, it is also true that this increased hacking strategy has caused Craigslist to lose a startup’s growth stage significant number of its users and raise several eyebrows among marketers. This is why your business partners and investors should be with you and support you in building a growth team for your newly formed business.

 

So what after laying the right foundation? Here are what steps you should take further, 

  1. Choose your Growth Team Model
  2.  Hire the right experts for your growth team 
  3. Create a culture conducive to growth
  4.  Structure your teams
  5. Grow your team

Mithun Gain

Mithun Gain Manages this internet site from pinnacle to backside solely. He is an expert writer, UX designer, and likes to journey on a motorcycle. If staying withinside the Lotus function is your fashion of meditation, retaining palms at the accelerator is his fashion. He likes it, and his final dream is to journey the arena on a motorcycle.

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