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How to Build a Funnel that Will Grow Your Subscription Business the Fastest

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• 3. We’ll cover...1 What is activation?2 4 levers for industry domination3 Common pitfalls of testing
• 4. WHAT ISActivation?
• 5. Your SaaS funnel
• 6. Are people using your product? Not only do people need to create an account, they need to start using your product.
• 7. No value = no sale
• 8. How to define activation Activation = the critical step people need to take in order to get value from your product
• 9. Facebook Activation
• 10. Evernote Activation
• 11. Instagram Activation
• 12. Basecamp Activation
• 13. Make sure to track activation It’s the most important part of your funnel and everyone forgets it.
• 14. FUNNELLevers
• 15. What’s a lever? A change to the funnel that helps you maximize users or revenue.
• 16. Lever #1 Free Trials
• 17. Trial Funnel Visited Site Trial Sign Up Activated Upgraded
• 18. Basecamp Free trial
• 19. On-ramp program is critical You have a limited number of days to make the sale. Don’t waste them.
• 20. What’s your on-ramp program? The new user experience (NUX) should be completely different than your regular program.
• 21. Shopify NUX
• 22. 14, 30, or 45 day trial?
• 23. Replacing the free trial Try replacing your free trial with a 30- day money back guarantee.
• 24. Lever #2 Freemium
• 25. Freemium Funnel Visited Site Free Sign Up Activated Upgraded
• 26. Looking for user growth? Freemium is where you want to be.
• 27. What do you limit? There’s a balance between offering enough so people sign up but not offering too much so they never upgrade.
• 28. Common Freemium Limits1 Dropbox = 2 GB of Storage2 Evernote = 60 MB of Uploads3 MailChimp = 2,000 Email Subscribers
• 29. MailChimp Freemium
• 30. Freemium users take forever to upgrade Very difficult to track changing behavior over time with a long-term funnel.
• 31. Cohort reports help a lot with freemium
• 32. Lever #3 UP-FRONTCredit Cards?
• 33. When do you collect credit card info? At account creation or at upgrade?
• 34. Credit cards up front Fewer people will create an account but a LOT more will upgrade (especially if the upgrade is opt-out).
• 35. Credit cards at upgrade Much easier to get people to create an account, much harder to get them to upgrade.
• 36. AWeber $1 Trial
• 37. Maximizing users or revenue?
• 38. Lever #4 MONTHLY OR ANNUAL Billing
• 39. Users or revenue?
• 40. CrazyEgg used to be monthly
• 41. Your Funnel Levers
• 42. Test different levers for most growth
• 43. COMMONPitfalls
• 44. WHAT TO FOCUS ON First?
• 45. Look for bottlenecks in your funnel
• 46. Very few people go from Activation to Upgrade
• 47. Use levers to fix bottlenecks
• 48. ARE YOU ONLY TESTING THE Funnel?
• 49. Variation B performs the best in this funnel
• 50. Variation A gives the most revenue
• 51. SHOULD WE TESTRandomly?
• 52. Why did you get your results?
• 53. Do you have qualitative data?
• 54. Where do we get qualitative data? Talk to your customers.

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How to Build a Funnel that Will Grow Your Subscription Business the Fastest

  1. How to Build a Funnel that Will Grow YourSubscription Business the Fastest Lars Lofgren Marketing Analyst - June 2012 info@kissmetrics.com - Confidential - Do not distribute
  2. @larslofgren #KISSwebinar
  3. We’ll cover...1 What is activation?2 4 levers for industry domination3 Common pitfalls of testing
  4. WHAT ISActivation?
  5. Your SaaS funnel
  6. Are people using your product? Not only do people need to create an account, they need to start using your product.
  7. No value = no sale
  8. How to define activation Activation = the critical step people need to take in order to get value from your product
  9. Facebook Activation
  10. Evernote Activation
  11. Instagram Activation
  12. Basecamp Activation
  13. Make sure to track activation It’s the most important part of your funnel and everyone forgets it.
  14. FUNNELLevers
  15. What’s a lever? A change to the funnel that helps you maximize users or revenue.
  16. Lever #1 Free Trials
  17. Trial Funnel Visited Site Trial Sign Up Activated Upgraded
  18. Basecamp Free trial
  19. On-ramp program is critical You have a limited number of days to make the sale. Don’t waste them.
  20. What’s your on-ramp program? The new user experience (NUX) should be completely different than your regular program.
  21. Shopify NUX
  22. 14, 30, or 45 day trial?
  23. Replacing the free trial Try replacing your free trial with a 30- day money back guarantee.
  24. Lever #2 Freemium
  25. Freemium Funnel Visited Site Free Sign Up Activated Upgraded
  26. Looking for user growth? Freemium is where you want to be.
  27. What do you limit? There’s a balance between offering enough so people sign up but not offering too much so they never upgrade.
  28. Common Freemium Limits1 Dropbox = 2 GB of Storage2 Evernote = 60 MB of Uploads3 MailChimp = 2,000 Email Subscribers
  29. MailChimp Freemium
  30. Freemium users take forever to upgrade Very difficult to track changing behavior over time with a long-term funnel.
  31. Cohort reports help a lot with freemium
  32. Lever #3 UP-FRONTCredit Cards?
  33. When do you collect credit card info? At account creation or at upgrade?
  34. Credit cards up front Fewer people will create an account but a LOT more will upgrade (especially if the upgrade is opt-out).
  35. Credit cards at upgrade Much easier to get people to create an account, much harder to get them to upgrade.
  36. AWeber $1 Trial
  37. Maximizing users or revenue? If users, try no credit card. If revenue, try up-front credit cards.
  38. Lever #4 MONTHLY OR ANNUAL Billing
  39. Users or revenue? Monthly gets more users, annual gets more revenue.
  40. CrazyEgg used to be monthly
  41. Your Funnel Levers 1 Free Trials 2 Freemium 3 Credit Cards Up Front 4 Monthly or Annual Billing
  42. Test different levers for most growth
  43. COMMONPitfalls
  44. WHAT TO FOCUS ON First?
  45. Look for bottlenecks in your funnel What step is a serious roadblock for people?
  46. Very few people go from Activation to Upgrade
  47. Use levers to fix bottlenecks
  48. ARE YOU ONLY TESTING THE Funnel?
  49. Variation B performs the best in this funnel
  50. Variation A gives the most revenue
  51. SHOULD WE TESTRandomly?
  52. Why did you get your results? If you just start testing without first understanding user behavior, you won’t be learning.
  53. Do you have qualitative data? Once we understand our users, then we can work the levers for the best fit.
  54. Where do we get qualitative data? Talk to your customers.
  55. Other options?
  56. Q&A Time! Lars Lofgren llofgren@kissmetrics.com @larslofgren

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