Twilio Segment is excited to share the findings of our inaugural Growth Report. The report offers insights from over a dozen executives at companies like Shopify, GitHub, Zendesk, and Lyft, on how they are using customer data to fuel rapid business growth.
In light of increasing investor pressure on technology companies to increase revenue, technology executives are asking themselves: What does it take to build a successful team that can continuously improve acquisition, conversion, and retention?
Unfortunately, sustaining these double and triple-digit growth rates quarter over quarter is becoming increasingly difficult. Spending more on headcount or marketing and sales isn't always an option, and they have to do more, with the budgets and resources they have.
Enter customer data.
Incorporating customer data into an organization can allow executives to bring data-driven, scientific rigor to their teams, without putting their P&L statement at risk. This veritable gold mine of customer information can be used to increase growth, improve customer retention, and inform new acquisition initiatives.
Amongst the executives we spoke to at Courage+Stone, Databricks, Frame.io, GitHub, HubSpot, Klaviyo, Lyft, Miro, MURAL, New Relic, Shopify, Showpad, Voiceflow, Zendesk, and Zuora, the report identified three key takeaways from the industry’s most successful organizations.
Quality data fuels rapid business growth: To grow faster than the competition, high-performing growth leaders recognize that their teams need near-constant access to accurate, real-time data. For this reason, growth leaders prioritize implementing quality data infrastructure and governance early in their tenures.
Growth leaders drive organizational innovation: Recognized for their expertise in digital transformation, best-in-class growth leaders are rewarded with the freedom to make key organizational decisions. They leverage cutting-edge organizational designs, such as cross-functional growth squads, as well as individuals from a variety of functions from engineers to designers, to maximize their team’s performance.
The discipline of growth is maturing: What started out as “growth hacking” has now become a core business discipline. Growth practitioners have proven themselves to be methodical yet agile team leaders who consistently deliver results.
To read the report in full, head this way.
Or, if you’d like to hear from the participants themselves, we’ll be hosting an intimate fireside chat next Tuesday, November 16th, at 8am PST, to discuss the findings of the report.