Date post: | 05-Aug-2015 |
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Marketing |
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Thue Madsen Marketing Operations
Kissmetrics
@thuelmadsen
Andy Wyatt Product Marketer Kissmetrics
@Kissmetrics
1 The CRO Toolbox for Growth
Our CRO Stack
Highlights of winners
Kissmetrics growth benefits across departments
2 The Kissmetrics Growth Framework
3 CRO Best Practices
TABLE OF CONTENTS
WATCH WEBINAR RECORDING NOW
MANY TOOLS, ONE PURPOSE
• Analytics and Business Intelligence
• Internal data sources
• Customer feedback
• Prospect feedback
• Research
• Quantitative
• Qualitative
• Optimization
• A/B or Multivariate Testing
• Engage
Source: http://kiss.ly/1U4Biup
MANY TOOLS, ONE PURPOSE
Most of our growth has come from relentless A/B testing, however
• Do not rely on one tool or method
• Each tool has a purpose, and each tool has a downside
• Find a solid combination for your business
PART SCIENCE, PART ART
• It’s like brewing beer
• You need to have a recipe
• You need the tools (equipment)
• You need to understand flavors
• You need to know who is drinking it
THE KISSMETRICS FRAMEWORK
• Find the biggest opportunities and greatest barriers
• Form a hypothesis
• Test against actions that matter
• Verify your results against your funnel
• Document and keep track
• Determine your tests value ahead of time
• Stay focused!
GOAL/HYPOTHESIS
• Know why you are doing something
• Goals or hypotheses should be used to validate your test, or show why your test failed
• Doing something just to do something rarely leads to growth
• Don’t change your goal half way through the test - stick with it
• Let the numbers do the talking
BUILD
• Simplify your builds - use as few tools as possible
• It helps to have dedicated resources, but they are not required
• Know what it will take to build your tests ahead of time, as this should be factored into what tests you run and when you run them
MEASURE AND LEARN
• Test and Measure your result
• Validate the results
• Surface important insights and share with relevant stakeholders
• Use insights for future hypothesis
BUILD-MEASURE-LEARN
• Iterate-iterate-iterate
• Always know what you are going to test next
• Even if tests fail, that should help you inform the next build
• You can learn something from every test - take the time to do post-mortems
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GROWTH HAS MANY DEFINITIONS
• Marketing - More signups, more leads, more opportunities
• Sales - Higher win rates, higher average MRR, more customers
• Customer success - Lower churn, more upsells, higher satisfaction
• Product - Higher adoption, higher engagement, more love of product
• Company - Solving big problems
ITS A COMPANY WIDE EFFORT
• Get buy in from all stakeholders
• Easier to run tests, move fast
• Easier to explain results
• Everyone can benefit individually but the company as a whole should see a lift
• If test goals are aligned with the company goals, everyone wins
BEST PRACTICES
• Know when and where to use each tool
• Have a system for validity
• Only test when you are ready
• Align testing goals with company goals
• Done is better than perfect
• Communication and documentation
How to Optimize Your Growth with
KissmetricsKissmetrics Demo
kiss.ly/demokiss.ly/growth