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How to Use Conversion Optimization to Drive Growth

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Growth Section Has One Changed 1 http://i.imgur.com/FmRlA.jpg
US Online Ad Spend Per User 2000 – 2012 $160 $140 $120 $100 $80 $60 $40 $20 $0 3.5x 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Rapidly Evolving Customer Acquisition Channels
Yet Some Massive Startup Successes Little or no traditional marketing…
Section One 1 Engineered Growth Momentum
Example: LinkedIn User-Get-User
Used a Growth Hacking Playbook • Experiment with all available growth levers • Understand what’s driving growth, test to improve it • Heavy focus on product and optimization
Growth Without CRO is Very Difficult
Not All CRO = Growth
Which Makes it Very Frustrating Gut-Driven Test Ideas Test Small Changes No Growth
Section One 1 How Do You Get Traction with Your CRO Efforts?
Place Your Bets Wisely • Don’t guess, research… • Quantitative Research What people are/aren’t doing? ! • Qualitative Research Why are/aren’t they doing it?
Quantitative: Visitor Behavior
Quantitative: Discover Your Magic Number
Quantitative: Twitter’s Follow 30 People
Qualitative: Understand Why • Discover the why can lead to breakthroughs in growth • HotelTonight found poor data connections drove conversion rates UP. ! • WHY?
Section One 1 Understand Intent Understand Growth
Key Conversion Levers Why do users exit without converting? ! Not enough desire Too much friction Desire – Friction = Conversion Rate
Qualitative: Understand Why • Address intent first ! • Strong authentic promise (connects to intent) • Social proof • Address fears and UX issues
Growth is a Process – Not a Bunch of Tactics 1. Ideas Looks a lot like 5.Optimize 2.Prioritize 4.Analyze 3.Test a CRO process.
Growth is a Process – Not a Bunch of Tactics If product is hard to market, try complementary product and cross promote.
Section One 1 Double Down to Build Momentum
Qualitative: Understand Why • Airbnb discovered that listings with high-quality photos received 2-3x bookings ! • Airbnb invested in professional photography ! • Booking activity explodes as desire increases
Section One 1 Growth = Increased Units of Gratification
Growth Hacking Toolkit • Analytics — Identify drop-off points and under-performing pages (e.g. Google Analytics, KISSMetrics) • Qualitative Insights — Uncover the why behind the numbers (e.g. Qualaroo, SurveyMonkey) • A/B Testing — Find better performing combinations to drive conversion rate (e.g. Optimizely, Unbounce)
Continuous Optimization of Growth 1. Ideas 2.Prioritize 5.Optimize 4.Analyze 3.Test
Key Takeaways •Marketing challenges require rethinking growth •Effective CRO essential for growth •Continuous experimentation critical for finding new growth levers

Published in: Marketing
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How to Use Conversion Optimization to Drive Growth

  1. 1. Unlock Your Company’s Growth Engine ! With Conversion Rate Optimization Sean Ellis, CEO of Qualaroo & founder of GrowthHackers.com
  2. 2. Join the conversation @ThueLMadsen #KISSwebinar
  3. 3. Sean Ellis - Qualaroo & GrowthHackers.com - @seanellis ! Sean Ellis is the CEO of Qualaroo and founder of GrowthHackers.com. Prior to Qualaroo, Sean held marketing leadership roles with breakout companies including Dropbox, LogMeIn (IPO), Uproar (IPO), Eventbrite and Lookout. Your presenter
  4. 4. Hit me up on Twi!er @SeanEllis #KISSwebinar
  5. 5. Today’s agenda 1 Growth has Changed 2 How CRO Drives Growth 3 Gain Traction with Conversion Efforts 4 Using User Intent to Drive Growth 5 Growth & Optimization Process 6 Tying CRO to Growth Levers
  6. 6. WATCH WEBINAR RECORDING NOW
  7. 7. Growth Section Has One Changed 1 http://i.imgur.com/FmRlA.jpg
  8. 8. US Online Ad Spend Per User 2000 – 2012 $160 $140 $120 $100 $80 $60 $40 $20 $0 3.5x 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
  9. 9. Rapidly Evolving Customer Acquisition Channels 120 100 80 60 40 20 0 WOM Email MySpace Facebook Twitter Craigslist iOS Android 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 James Currier
  10. 10. Yet Some Massive Startup Successes Li!le or no traditional marketing…
  11. 11. Section One 1 Engineered Growth Momentum
  12. 12. Example: LinkedIn User-Get-User
  13. 13. Used a Growth Hacking Playbook • Experiment with all available growth levers • Understand what’s driving growth, test to improve it • Heavy focus on product and optimization
  14. 14. Growth Without CRO is Very Difficult
  15. 15. Not All CRO = Growth
  16. 16. Which Makes it Very Frustrating Gut-Driven Test Ideas Test Small Changes No Growth
  17. 17. Section One 1 How Do You Get Traction with Your CRO Efforts?
  18. 18. Place Your Bets Wisely • Don’t guess, research… • Quantitative Research What people are/aren’t doing? ! • Qualitative Research Why are/aren’t they doing it?
  19. 19. Quantitative: Visitor Behavior
  20. 20. Start Your Free KISSmetrics Trial LOG IN WITH GOOGLE
  21. 21. Quantitative: Discover Your Magic Number
  22. 22. Quantitative: Twi!er’s Follow 30 People • Twi!er wanted to know what made someone become a core user ! • The number of people you follow determines activation rate ! • "Once a user follows 30 people, they're more or less active forever.” – Josh Elman, Greylock
  23. 23. Qualitative: Understand Why • Discover the why can lead to breakthroughs in growth • HotelTonight found poor data connections drove conversion rates UP. ! • WHY?
  24. 24. Section One 1 Understand Intent Understand Growth
  25. 25. Key Conversion Levers Why do users exit without converting? ! Not enough desire Too much friction Desire – Friction = Conversion Rate
  26. 26. Qualitative: Understand Why • Address intent first ! • Strong authentic promise (connects to intent) • Social proof • Address fears and UX issues
  27. 27. Growth is a Process – Not a Bunch of Tactics 1. Ideas Looks a lot like 5.Optimize 2.Prioritize 4.Analyze 3.Test a CRO process.
  28. 28. Growth is a Process – Not a Bunch of Tactics If product is hard to market, try complementary product and cross promote.
  29. 29. Section One 1 Double Down to Build Momentum
  30. 30. Qualitative: Understand Why • Airbnb discovered that listings with high-quality photos received 2-3x bookings ! • Airbnb invested in professional photography ! • Booking activity explodes as desire increases
  31. 31. Section One 1 Growth = Increased Units of Gratification
  32. 32. Growth Hacking Toolkit • Analytics — Identify drop-off points and under-performing pages (e.g. Google Analytics, KISSMetrics) • Qualitative Insights — Uncover the why behind the numbers (e.g. Qualaroo, SurveyMonkey) • A/B Testing — Find be!er performing combinations to drive conversion rate (e.g. Optimizely, Unbounce)
  33. 33. Continuous Optimization of Growth 1. Ideas 2.Prioritize 5.Optimize 4.Analyze 3.Test
  34. 34. Key Takeaways •Marketing challenges require rethinking growth •Effective CRO essential for growth •Continuous experimentation critical for finding new growth levers
  35. 35. Questions? Thue Madsen Marketing Associate KISSmetrics @thuelmadsen Sean Ellis CEO of Qualaroo Founder of GrowthHackers.com @seanellis
  36. 36. THANK YOU Sean Ellis @seanellis

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