Growth strategy
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Successful product launches require more than traditional marketing. Growth team re
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Growth strategy
- 1. Growth strategy conversion centered design Pitney Bowes | Conversion centered design | June 01 , 2015 1
- 2. Most projects don’t fail at building a product. They fail at acquiring customers. Gabriel Weinberg Author “Traction” Pitney Bowes | Conversion centered design | June 01 , 2015 2
- 3. User-centered design is about experience. Conversion-centered design is about business goals.
- 4. Growth Funnel Pitney Bowes | Conversion centered design | June 01 , 2015 4 Acquisition Activation Retention Revenue Referrals Acquisition Activation Retention Revenue Referrals Enterprise Marketing Growth Team
- 5. Focus on understanding your users and how they discover and adopt your products, so you can build features that help you acquire and retain more users, rather than just spend marketing dollars. Josh Elman Greylock, Twitter, Facebook, Linkedin Pitney Bowes | Conversion centered design | June 01 , 2015 5
- 6. Little or no traditional marketing Pitney Bowes | Conversion centered design | June 01 , 2015 6
- 7. Growth process Pitney Bowes | Conversion centered design | June 01 , 2015 7 1. Ideas 2. Prioritize 3. Test 4. Analyze 5. Optimize
- 8. “Growth team” complements existing marketing team Pitney Bowes | Conversion centered design | June 01 , 2015 8 • Multi-disciplinary – Data science – Developers – Writers – Product managers – User Experience • Cross function – T-shaped • Evangelize experimental culture – Multivariate tests – Analytics drive insights
- 9. Tools Pitney Bowes | Conversion centered design | June 01 , 2015 9 • Analytics – Identify drop-off points and underperforming screens • Google Analytics • KISSMetrics • Qualitative insights – Uncover the behind the numbers • Qualaroo • SurveyMonkey • A/B Tests – Find better performing combinations to drive conversion rate • Optimizely • Unbounce
- 10. Growth glossary Pitney Bowes | Conversion centered design | June 01 , 2015 10
- 11. Conversion rate Number of people who visit offering vs number of people who complete call to action. (Sign up, buying, downloading, etc…) #1 Measure Pitney Bowes | Conversion centered design | June 01 , 2015 11
- 12. A/B testing Show user multiple versions of a screen and measure which performs better. Google, qualaroo, optimizely, KISSMetrics Pitney Bowes | Conversion centered design | June 01 , 2015 12
- 13. Bounce rate Measures how “leaky” your growth funnel is and where. Measures poor service or wrong customers Google, KISSMetrics Pitney Bowes | Conversion centered design | June 01 , 2015 13
- 14. Cohort analysis Measures related groups of people through the funnel. Analyzes the entire lifecycle of customers (Customer lifetime value) Pitney Bowes | Conversion centered design | June 01 , 2015 14
- 15. Pivot Structured course correction designed to test new hypothesis. Tweaking the product because customers are not responding Pitney Bowes | Conversion centered design | June 01 , 2015 15
- 16. Product/market fit The product and the customers are in sync. Products that fulfill a real and compelling need to a defined group of people that causes an explosive reaction. Pitney Bowes | Conversion centered design | June 01 , 2015 16
- 17. Sales funnel A series of steps to find leads, take them through the sales process with the goal to convert them into paying customers. Needs to be baked into the application and through the end-2-end experience Pitney Bowes | Conversion centered design | June 01 , 2015 17
- 18. Stickiness Likelihood a customer will repurchase or recommend your product? Products that are simple, unexpected, credible, with a memorable storyline Pitney Bowes | Conversion centered design | June 01 , 2015 18
- 19. Vanity metrics Feel important but are superficial or deceptive measures that aren’t actionable (replicable). Website traffic vs conversion rate, bounce rate, time on site, etc… Pitney Bowes | Conversion centered design | June 01 , 2015 19
- 20. Viral loop Process of seeing, using, to sharing your product. Self fueling mechanisms of growth Pitney Bowes | Conversion centered design | June 01 , 2015 20
- 21. Viral coefficient Person to person spread of a product or an idea. k-factor greater than 1 Pitney Bowes | Conversion centered design | June 01 , 2015 21