The work is different and title tries to define that - it’s as much of a made up title as any.
Here’s a good reforge article that tries to explain the different PM roles based on the work that those PMs do - The Growing Specialization of Product Management — Reforge
"Product managers that focus on Growth work are Growth PMs (yes, this is the most intuitive specialization naming!). Growth PMs are typically laser focused on the customer’s journey with a product, through the lens of business metrics like acquisition, CAC, sign ups, free trial starts, conversion/purchase rates, monetization, ARPU, and retention.
Although there may be slight overlap with Core PMs, Growth PMs usually focus on parts of the experience related to sign up/registration, onboarding, conversion/monetization, pricing, referrals/sharing, retention/transaction moments, and revenue growth.
Some other names (and sub-specialities) for Growth PM = Activation PM, Engagement PM, Retention PM, Monetization PM, Conversion PM, Growth infra PM. To learn more about growth work and growth PMs, check out Reforge’s Growth Series, our flagship program on how companies grow and how to think about growth in your own role.
Key Growth PM skills = experimentation, optimization, speed to deploy, marketing skills, financial / experimentation modeling, quick decision making, channel-based skills like SEO, pricing philosophy, solid data and statistics skills, iterative development
Extra close collaboration with: Finance, Data, Marketing."