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Mastering paid growth | Jonathan Becker (Thrive Digital)

Jonathan Becker is the founder and president of Thrive Digital, where he and his team have deployed more than $3.5 billion in paid acquisition budgets for companies like Uber, Asana, Square, Tempur-Pedic, and MasterClass. He spent the first part of his career mastering SEO and is a world expert in DTC, lead generation, demand generation, and user acquisition. In today’s episode, we discuss: • Signs that your company is a good fit for paid growth • Strategies for optimizing ad creatives • The merits of different marketing channels: paid vs. organic search, TikTok and short-form • Insights on attribution and how to approach it effectively • How market conditions and AI impact paid growth • The crazy story of how Jonathan won Uber as a client — Brought to you by Braintrust—For when you needed talent, yesterday | AssemblyAI—Production-ready AI models to transcribe and understand speech | Miro—A collaborative visual platform where your best work comes to life Find the full transcript at: https://www.lennysnewsletter.com/p/mastering-paid-growth-jonathan-becker Where to find Jonathan Becker: • Twitter: https://twitter.com/jzbecker • LinkedIn: https://www.linkedin.com/in/jonathanbecker123/ • Website: https://thrivedigital.com/ Where to find Lenny: • Newsletter: https://www.lennysnewsletter.com • Twitter: https://twitter.com/lennysan • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/ In this episode, we cover: (00:00) Jonathan’s background (07:25) The crazy story of how Jonathan won Uber as a client (11:56) Interchangeable terms for “paid growth” (12:31) Why you shouldn’t put all your eggs in one basket (16:48) What kind of companies should pursue paid growth (23:07) Is it possible to reach scale exclusively through paid growth? (27:07) The evolution of performance marketing (29:39) Advice for founders choosing between SEO and paid (32:18) Strategies for optimizing ad creatives (44:43) Paid vs. organic search, TikTok and short-form (49:56) Where to spend money in order to drive growth for B2B SaaS (55:06) Attribution in performance marketing  (1:04:18) The impact of AI on paid growth (1:12:52) Advice for early-stage startups on hiring in-house vs. hiring an agency  (1:17:09) Qualifications to look for in your hires (1:23:23) How Jonathan won Snapchat as a client (1:28:55) Lightning round Referenced: • Andrew Wilkinson: https://www.linkedin.com/in/awilkinson/ • Garrett Camp: https://www.forbes.com/profile/garrett-camp/ • TikTok: https://www.tiktok.com/ • Grammarly: https://app.grammarly.com/ • Athletic Greens: https://athleticgreens.com/en • Supermetrics: https://supermetrics.com/ • Recast: https://getrecast.com/ • Midjourney: https://www.midjourney.com/ • DALL-E: https://openai.com/product/dall-e-2 • Storyworthy: https://www.amazon.com/Storyworthy-Engage-Persuade-through-Storytelling/dp/1608685489 • Shoe Dog: A Memoir by the Creator of Nike: https://www.amazon.com/Shoe-Dog-Memoir-Creator-Nike-ebook/dp/B0176M1A44 • American Kingpin: https://www.amazon.com/American-Kingpin-Criminal-Mastermind-Behind/dp/1591848148 • The Big Short: https://www.imdb.com/title/tt1596363/ • White Lotus on HBO: https://www.hbo.com/the-white-lotus Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com. Lenny may be an investor in the companies discussed.

Jonathan BeckerguestLenny Rachitskyhost
May 6, 20231h 34mWatch on YouTube ↗

At a glance

WHAT IT’S REALLY ABOUT

Jonathan Becker Reveals How To Scale Profitably With Paid Growth

  1. Performance marketing veteran Jonathan Becker walks through how to use paid acquisition as a disciplined, diversified growth engine rather than a dangerous dependency. He explains how automation and AI have shifted work from tactical knob‑turning to strategy, modeling, and especially creative testing, which he sees as today’s biggest lever. The conversation digs into when paid works best, how to think about attribution in a post‑IDFA world, and why channel diversification and profitability discipline matter more than ever. Becker also shares practical advice on channels (Google/Meta/TikTok/Amazon), B2B lead gen, hiring and using agencies, and how his own agency uses AI to radically speed up copy, mockups, and RFPs.

IDEAS WORTH REMEMBERING

5 ideas

Treat performance marketing like an investment portfolio, not a single stock.

Over‑reliance on one paid channel is like putting all your savings into one volatile stock; diversify across channels (and offline tactics like email, SEO, direct mail, TV) so your business isn’t hostage to one platform’s auction dynamics or policy changes.

Paid growth works best once you’ve proven product‑market fit through other channels.

If other channels (organic, email, virality, sales, offline) already produce demand, paid is likely to scale that; if you’re pre‑PMF and expecting paid alone to validate your idea, you’re exposing yourself to high risk and noisy signals.

Creative is now the main performance lever as platforms automate targeting and bidding.

With Google and Meta automating most knobs, advantage comes from a systematic creative testing program: structured funnels, UGC and authentic formats, isolating single variables in A/B tests, and continuously iterating based on real performance data.

Attribution is inherently subjective; you need multiple lenses, not a single ‘source of truth.’

Cookie‑based first/last/multi‑touch models are now incomplete, especially post‑IDFA; combine in‑platform data, media mix modeling (e.g., Recast), surveys, and custom data pipelines (ETL + BI) to triangulate impact and make decisions about scaling or cutting spend.

Optimize lead gen for downstream revenue, not cheap leads.

In B2B and other lead funnels, chasing the lowest cost per lead often fills the pipe with low‑value prospects; instead, connect CRM revenue data to ad data, build lead scoring models, and bid more aggressively on audiences that historically generate high LTV and margin.

WORDS WORTH SAVING

5 quotes

I think of myself as a fund manager—we’re managing people’s money with the expectation of a return.

Jonathan Becker

Paid acquisition is a drug when all your eggs are in one basket and that basket takes you on a roller coaster.

Jonathan Becker

The first rule of performance marketing is not to forget about offline marketing.

Jonathan Becker

Creative is still one of the levers that, for now, hasn’t been fully automated—and that’s where the biggest opportunity lies.

Jonathan Becker

Attribution is an ongoing investigation; anyone who claims to be a single source of truth is not being accurate.

Jonathan Becker

Role of paid growth within a broader growth and channel mixWhen performance marketing is a good fit for different business modelsCreative strategy and rigorous testing as the primary modern leverAttribution challenges post‑iOS 14.5 and practical approaches to measurementChannel selection: Google, Meta, TikTok, Amazon, YouTube, SnapB2B SaaS and lead generation economics, LTV/CAC, and lead scoringHow AI and automation are reshaping performance marketing workWhen to hire agencies vs. in‑house and what to look for in talent

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