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Build The Right Funnel and Grow Your Business Fast

Date post:19-Aug-2015
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  1. 1. Dan McGaw, Director of Marketing at KISSmetrics Build The Right Funnel and Grow Your Business Fast April 2014
  2. 2. @DanielMcGaw #KISSwebinar Join me on Twi er
  3. 3. 1 What is activation? 2 4 levers for industry domination 3 Common pitfalls of testing Table of Contents
  5. 5. What is Activation? 1
  6. 6. Your SaaS funnel What is Activation?
  7. 7. Not only do people need to create an account, they need to start using your product. Are people using your product?
  8. 8. No value = No sale
  9. 9. How to dene activation Activation is the critical step people need to take in order to get value from your product
  10. 10. Facebook Activation = 10+ Friends What is Activation?
  11. 11. Evernote Activation = First note wri en What is Activation?
  12. 12. Instagram Activation = Filter used on an image What is Activation?
  13. 13. Basecamp Activation = Project created What is Activation?
  14. 14. Make sure to track activation Its the most important part of your funnel and everyone forgets it.
  15. 15. Funnel Levers 2
  16. 16. Whats a lever? A change to the funnel that helps you maximize results.
  17. 17. Lever #1: Free Trials People love free More people will try your product
  18. 18. Trial Funnel Funnel Levers Visited Site Upgraded Trial Sign Up Activated
  19. 19. Basecamp Free trial Funnels Levers
  20. 20. On-ramp program is critical You have a limited number of days to make the sale. Dont waste them.
  21. 21. Whats your on-ramp program? The new user experience (NUX) should be completely dierent than your regular program.
  22. 22. Shopify NUX Funnel Levers
  23. 23. 14, 30, or 45 day trial? You need to nd out what works best for your company Funnel Levers
  24. 24. Replacing the free trial Try replacing your free trial with a 30- day money back guarantee.
  25. 25. Lever #2: Freemium Again people love free Can be hard to convert free into paid
  26. 26. Looking for user growth? Freemium is where you want to be.
  27. 27. What do you limit? Theres a balance between oering enough so people sign up but not oering too much so they never upgrade.
  28. 28. 1 Dropbox = 2 GB of Storage 2 Evernote = 60 MB of Uploads 3 MailChimp = 2,000 Email Subscribers Common Freemium Limits
  29. 29. MailChimp Freemium Funnel Levers
  30. 30. Freemium users take forever to upgrade Very dicult to track changing behavior over time with a long-term funnel.
  31. 31. Cohort reports help a lot with freemium Funnel Levers
  32. 32. LOG IN WITH GOOGLE Start Your Free KISSmetrics Trial
  33. 33. Lever #3 Up-front Credit Cards? Funnel Levers
  34. 34. When do you collect credit card info? At account creation or at upgrade? ?
  35. 35. Credit cards up front Fewer people will create an account but a LOT more will upgrade (especially if the upgrade is opt-out).
  36. 36. Credit cards at upgrade Much easier to get people to create an account, much harder to get them to upgrade.
  37. 37. AWeber $1 Trial Funnel Levers
  38. 38. Maximizing users or revenue? If users, try no credit card If revenue, try up-front credit cards.
  39. 39. Lever #4 Monthly or Annual Billing Funnel Levers
  40. 40. Is the focus on users or revenue? Monthly gets more users, annual gets more revenue.
  41. 41. CrazyEgg used to be monthly Funnel Levers
  42. 42. KISSmetrics oers both but with a discount for annual Funnel Levers
  43. 43. Your funnel levers 1 Free Trials 2 Freemium 3 Credit Cards Up-front 4 Monthly or Annual Billing
  44. 44. Test dierent levers to achieve the highest growth Funnel Levers
  45. 45. Common Pitfalls 3
  46. 46. What Should You Focus on First?
  47. 47. Look for bo lenecks in your funnel What step is a serious roadblock for people?
  48. 48. Very few people go from Activation to Upgrade Common Pitfalls
  49. 49. Use levers to x bo lenecks Common Pitfalls
  50. 50. Are You Only Testing the Funnel?
  51. 51. Variation B performs the best in this funnel Common Pitfalls
  52. 52. Variation A gives the most revenue Common Pitfalls
  53. 53. Should We Test Randomly?
  54. 54. Why did you get your results? If you just start testing without rst understanding user behavior, you wont be learning.
  55. 55. Do you have qualitative data? Once we understand our users, then we can work the levers for the best t.
  56. 56. Where do we get qualitative data? Talk to your customers.
  57. 57. Questions? We will do our best to answer
  58. 58. THANK YOU Dan McGaw @danielmcgaw

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