Growth Hackers: TripActions Disrupts $1.5T Industry
What does it take to reach and sustain breakout growth?
This is the question that TripActions CMO Meagen Eisenberg sat down to explore on The Breakout Growth Podcast, which features interviews with CEOs as well as product, growth and marketing leaders from the world’s fastest growing companies.
Meagen spoke with host Sean Ellis who is the author of Hacking Growth and former growth lead for high-growth companies such as Dropbox, Eventbrite, and Lookout. He is on a mission to understand what is at the the heart of these companies and really driving their breakout growth so that listeners can walk away with strategies, lessons, and insight. You can read Sean’s complete analysis here.
What Drives TripActions Breakout Growth
The conversation focused on a few key factors that aid TripActions’ global growth:
- Product/market fit across key stakeholders
- A growth process that supports breakout success
- A culture built for growth leadership and collaborative team organization
- An integrative approach for growth, product, and corporate marketing
In the last year alone, TripActions grew our customer base by 50% from 2,000 to 3,000+ clients and tripled its team to 1,000+ employees. We also launched new product features including self-serve flight change, our Trust & Transparency program, expanded inventory through unprecedented industry relationships, built on NDC technology, and a carbon impact data dashboard.
But it takes more than a great product to sustain that kind of growth -- it takes a deep and dedicated approach to teamwork and systems inside the organization.
“Culture and value [at TripActions] are about raising the bar. If you are all rowing in the same direction, imagine how much faster you will get there? It starts at the top with leaders who are smart and work hard and stay humble,” Meagen said.
Meagen provided insights into how she organizes her marketing team, which grew fivefold from 10 to 50 last year, and how it contributes to the company’s breakout growth.
She explains how the different components of the marketing organization, which includes teams for product marketing, growth, website systems, corporate communications and brand, PR, fields and events, and customer marketing all work together. Ellis noted how the growth team at TripActions reports into marketing, as opposed to product, and drives demand generation.
New Perspective on a $1.5 Trillion Market
While Sean starts the conversation by asking - “What is driving this almost perfect example of breakout growth?” - he quickly finds his answer.
“TripActions has become a $4+ billion business and disrupted a $1.5 trillion market by looking at the idea of a B2B travel management platform from a different vantage point. Incumbent platforms saw their end-users as CFOs looking to control costs, travel administrators focused on compliance, etc., but TripActions saw their end-users as humans, and shaped the business around delivering a great travel experience from the time a user books a trip to the moment they return to their home.”
In addition to the podcast, the conversation was also shared as a growth study on GrowthHackers.com, which dives deep into what creates explosive growth at featured companies such as Tinder, Stripe, Spotify, WhatsApp, LinkedIn, and Etsy.