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Growth strategyconversion centered design

Pitney Bowes | Conversion centered design | June 01 , 2015

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Most projects don’t fail at building a product. They fail at acquiring customers.Gabriel WeinbergAuthor “Traction”

User-centered design is about experience. Conversion-centered design is about business goals.

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Growth Funnel

Acquisition

Activation

Retention

Revenue

Referrals

Acquisition

Activation

Retention

Revenue

Referrals

Enterprise Marketing Growth Team

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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 ElmanGreylock, Twitter, Facebook, Linkedin

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Little or no traditional marketing

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Growth process

1. Ideas

2. Prioritize

3. Test4. Analyze

5. Optimize

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“Growth team” complements existing marketing team

• Multi-disciplinary– Data science– Developers– Writers– Product managers– User Experience

• Cross function– T-shaped

• Evangelize experimental culture– Multivariate tests– Analytics drive insights

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Tools

• 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

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Growth glossary

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Conversion rate

Number of people who visit offering vs number of people who complete call to action. (Sign up, buying, downloading, etc…)

#1 Measure

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A/B testing

Show user multiple versions of a screen and measure which performs better.

Google, qualaroo, optimizely, KISSMetrics

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Bounce rate

Measures how “leaky” your growth funnel is and where.

Measures poor service or wrong customers

Google, KISSMetrics

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Cohort analysis

Measures related groups of people through the funnel.

Analyzes the entire lifecycle of customers(Customer lifetime value)

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Pivot

Structured course correction designed to test new hypothesis.

Tweaking the product because customers are not responding

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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.

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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

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Stickiness

Likelihood a customer will repurchase or recommend your product?

Products that are simple, unexpected, credible, with a memorable storyline

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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…

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Viral loop

Process of seeing, using, to sharing your product.

Self fueling mechanisms of growth

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Viral coefficient

Person to person spread of a product or an idea.

k-factor greater than 1