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Introduction to the Growth Engine
Introduction to the Growth Engine

Learn how to utilise the Growth Engine to maximise business growth!

Jessica Nash avatar
Written by Jessica Nash
Updated over a week ago

📖 Glossary

This glossary will help you understand the terminology in this guide and other related guides.

    • A simple blueprint for growing B2B product sales

    • More customers + higher customer lifetime value = sales growth

    • An extended version of the Growth Formula

    • Represented as a Funnel-Flywheel

    • Comprised of the 7 growth strategies for B2B sales growth

    • The seven elements of the Growth Model

    • Attract, Sell, Close, Onboard, Order Value, Order Frequency, Retention

  • Growth Metrics

    • A business intelligence dashboard in the CRM

    • Features charts and analysis on your growth performance

  • Growth Benchmarks (coming soon!)

    • How your performance compares to businesses

    • Compares your business to those of similar size, industry etc.

    • Set of articles, help documentation & education for improving your performance

    • Complete with actionable advice on which CRM features to use

How does it work?

The Growth Engine is here to help you succeed with the Growth Formula - attracting more customers and maximising customer lifetime value (CLTV) is key to a profitable, growing the Growth Engine has been designed to help you measure and improve outcomes in these key areas.

To achieve that, your sales growth is further analysed via the seven key growth strategies found in the Growth Playbook. Maximising all seven elements across the funnel and the flywheel leads to repeatable, reliable, and predictable growth.

The Growth Engine analyses your CRM and ERP data, turning it into digestible charts that illustrate your progress in each of these seven growth strategies. By seeing clear upward, flat, or downward trends you can quickly pinpoint which areas need the most focus and improvement.

Armed with this analysis, you can then use the Growth Playbook and the related guides in our Growth Engine Hub to find the CRM features, and various sales & marketing best practices recommended for improving your sales growth.

What do the charts mean?

Depending on how much data you have, you will be able to switch between Monthly data (which is easily understood and recognisable) or TTM (Trailing Twelve Months).

💡 Use your mouse to hover over and highlight "Per TTM Period" - this explains that TTM (trailing 12 months) represents your performance for the past 12 consecutive months. Learn more about TTM and time series data here.

Total Revenue per TTM Period

Understand if your revenue is growing (upward trend) using the Total Revenue per TTM Period tile.

An upward trendline is the result of two things; acquiring more customers and increasing the customer lifetime value.

Customer Acquisition per TTM Period

Accelerating the growth of your customer acquisition is key. If you have a flat customer acquisition, you'll be acquiring more customers, but ultimately that will plateau. You always need to be accelerating your growth of new customers, otherwise customer churn will simply catches up with your customer acquisition.

Customer Lifetime Value per TTM Period

Attract, Sell & Close

Customer acquisition is then broken into Attract, Sell and Close - the first three stages of the funnel.

Attract growth strategy emphasises laser-focused marketing, refining your Ideal Customer Profile (ICP) to attract relevant enquiries, and scaling up to create a robust funnel of high-quality leads.

Implementing the Sell growth strategy involves mapping your sales process and ensuring team consistency. This aids in defining best practices and enables iterative improvement by reviewing wins and losses.

Assuming you attract suitable enquiries in sufficient volume, there are proven methods to enhance Close rates, such as sharing Sales team successes and streamlining the ordering process for customers.

Onboard, Order Value, Order Frequency & Retention

Customer lifetime value (CLTV) is broken down into Onboard, Order Value, Order Frequency, Retention.

Research indicates that on average, customers don't become a “settled, regular & relational customer” until they've placed a minimum of 4 orders. Optimising the Onboard growth strategy can help you create more repeat ordering customers.

If your Order Value is headed in the wrong direction (downward trend), or not growing as fast as you'd like, then you'll want to prioritise improving this metric to impact your overall sales growth.

With the right analysis, customer ordering patterns, including Order Frequency, become predictable. Prompting customers at the right time avoids delays or forgotten orders, boosting sales revenue and fostering customer satisfaction and loyalty.

Increasing customer Retention by just 5% can increase profits by an incredible 25-95%. So, fixing that leaky bucket is a top priority, regardless of the effectiveness of attracting new customers.

What's next for the Growth Engine?

In the next update, the Growth Engine won't just tell you how you're doing in each metric against your own historic performance (i.e. is this metric going up or down over time), but also how you perform against other similar businesses by presenting benchmarks for upper and lower quartile of data from other businesses of similar size and similar industry!

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