Growth [Hacking] is a magnifying glass. If you have a tiny diamond and you put it under a magnifying glass, then you’ll make something big and great. But if it’s just kind of a tiny piece of shit, then it’s just going to be a big piece of shit, right?
Following is a list of proven growth strategies that any startup can use.
Pokemon Go product market fit.
Testing out your ideas using MVP
for product market fit is vital. But there is a better method than MVP and this method was used by companies like DropBox, Pokemon Go, and many others you can read about it here - Minimum Viable Audience
15X better leads
15 times better lead conversion — According to Google 70% of mobile searchers use click to call button and in last 3 years global mobile users have increased by 40%. The cost of the click to call is same as headline clicks but click to call eliminates the steps in the conversion funnel. Therefore click-to-call are 15X better than web leads
From Google search position 10 to position 1
CTR has an enormous impact on organic ranking on Google. So if your page ranks at position 9 on the first page of Google you can shoot to top 3 by just improving your click through rates. You can do that by adding emotional or power words. But that takes time. A better way is just to look at the Google ads for your target keywords. The top performing Google ads are optimized for good CTR, copy the words/phrases from those ads into your title and see the impact.
Formula for the next unicorn
Greylock who backed companies such as Airbnb and Dropbox during the early stage (series a,b) share the formula of the next unicorn: Accruing benefits: the more you use the product, the better it get. Mounting losses: the longer you stay with the product, the more you have to lose by leaving.
350% increase in trial to paid users
Grove’s team found out the trial users who emailed them for support were 9 times more likely to convert to paying customers at the end of their trials than those who never reached out. So they worked on increasing the support tickets by a prominent call to action to contact support and time-triggered support email. Result 350% increase in trial to paid users
Adaptive design is 2 times faster than responsive design
57.2% internet users access the internet via mobile and on mobile load, time or the page interaction is very critical. We all know that. 1-second delay decreases Amazon’s revenue by $1.6 billion annually. 57% of mobile users leave the website if it takes more than 3 seconds to load.
Responsive design adapts to the size of the screen using CSS media queries for all types of devices. The adaptive design uses static layouts that don’t respond initially when they are loaded. The adaptive design works to detect the screen size and loads the appropriate layout. On the surface, it seems that adaptive design is slower than responsive design but an interesting study was done by catchpoint proves that in every test adaptive design is 2 times faster than responsive design.
ASO: 18% (max +654%) improvement using A/B testing of screenshots
This is the summary post by Splitmetrics of the data gathered from 100’s of experiments with over 10 million users. ASO, A/B test results: Screenshots: 18.8% (max: 654%) 2. Icons: 26% (max: 560%) 3. Description: 21% (max: 59.6%) 4. Video preview: 16% (max: 108%). Angry bird got 2.5 million more installs in a week using by just optimizing their screenshots
Decrease in cart abandonment rate from 8% to 4%
MoviesUnlimited allowed its online shoppers to see their current cart via dropdown rather than navigating to a separate page. This change resulted in drop of cart abandonment rate from 8% to 4%
Reduce app uninstall rate by 60%
AppVirality did research on users of e-commerce apps and found that positive in-app wallet balance reduced the uninstall rate by 60%.
370% increase in conversion using Zeigarnik Effect
Zeigarnik effect is psychological phenomena that state people tend to remember uncompleted or interrupted tasks than the completed tasks. Zeigarnik effect is employed in many ways to motivate users to take action and complete the desired task. People are motivated to take action by showing users task lists, completion indicator, rewards, user levels and badges. Using this effect, Freelancer.com motivates users to complete their profile information by indicating a completion bar. Badges and levels are shown to Stackoverflow users to prompt them to take action.
Ziegarnik effect in action - Ghost.org found that people who uploaded a custom theme converted 10% vs. a normal conversion rate of 0.9%. They focussed on increasing the number of individuals who uploaded a custom theme by adding a task list. This change resulted in 370% increase in people who uploaded a custom theme.
71% increase in conversion through redirection
There are over 1.1 billion tablet users worldwide. Shirtinator segmented their and performed a test. The tablet users were redirected to the desktop site rather than mobile site this improved their conversion by 71.8% in terms of revenue.
262% increase in sales using relativity.
Dan Ariely explained the power of relativity in his book Predictably Irrational
Economist had 2 subscriptions options:
- Web-only version — $59 2.
- Print + Web versions — $125
Only 32% of subscribers bought the print and web version.
They added a third option to their pricing (“print only”):
- Web only: $59 2.
Print only: $125
- Print + Web: $125
The print + web sales increased by a significant 262%
Do share other growth strategies that you have found in your comments below.
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