The first step to optimize your growth funnel is to understand your audience. Who are they? What are their needs, goals, and pain points? How do they find and use your product or service? What are their expectations and feedback? You can use various methods to gather and analyze data about your audience, such as surveys, interviews, analytics, user testing, and personas. The more you know about your audience, the better you can tailor your value proposition, messaging, and features to their needs and desires.
Identify your audience type. Research their pain points and understand what solution can be birth with your product. Assess their expectation and experience with your product through survey and feedback. Interviews in some cases can be efficient as well. Your value proposition would be determined by the experiences they have with your product.
Collaborative articles love generic advice. Again, starts with knowing your audience. It means you need to know: - Problems - Needs - Behavior and preferences - Priorities - Knowledge level The best way to reduce churn is to understand why your audience is churning. Is your product not solving their pain? Or is it expensive? What is the real problem?
Conocer a tu audiencia es el primer paso para optimizar tu embudo de crecimiento. ?? Utiliza encuestas, entrevistas y análisis de datos para descubrir quiénes son, qué necesitan y cómo interactúan con tu producto. Cuanto más sepas sobre ellos, mejor podrás adaptar tu estrategia.
When I consult a new startup on growth hacking, I first talk to 25 of their existing users. If they're new, then 25 potential users. This helps add quality to the otherwise quantitative data available from Analytics. This is a great way to know more and understand their users, how they found the startups, what problems did we solve, and hence help us redefine our future growth strategy for the startup.
I recently went through this process. I was running into an issue where performance was dipping a bit as my audience grew. So I counteracted the dip by massively increasing upfront value. Not only did the dip correct, it actually beat the starting point and continues to improve. What did I learn? If you want to grow sustainably, focus on your audience. Give them an insane amount of upfront value (even if it's for free) so you don't have to worry about them second-guessing their decision.
The next step is to design your funnel. A funnel is a visual representation of the stages that your audience goes through from becoming aware of your product or service to becoming loyal and engaged customers. A typical funnel consists of four stages: awareness, interest, decision, and action. However, you can customize your funnel according to your business model, goals, and metrics. The main purpose of designing your funnel is to identify the key actions and conversions that you want your audience to take at each stage, and the strategies and tactics that you will use to move them along the funnel.
So, here is the thing. Marketers and growth hackers are over obsessed with this metric called ‘reach’. More reach does not mean more awareness. I ask you, what will you pick? - 10 mn reach with 1 ad exposure in a month or - 1 mn reach with 10 ad exposures in a month. I will pick the latter and will make sure that I tightly target my persona in that 1 mn. I don’t care about the rest 9mn. With enough brand recall in those 10 ad exposures, I am in a much better position to warm them to the next stage of funnel. Tip : Follow the golden rule of reciprocity. The more you give, the more you can take. That’s how humans work. Period. So, give value to your prospect at every stage of funnel. Cheatsheets, Credits, Free Trials are some examples.
I use the A3R3 Funnel. This funnel covers all possible industries and business types. The stages are: Awareness Acquisition Activation Retention Revenue Referral
1. Map your funnel: Imagine your ideal customer's journey, from hearing about you to becoming a happy customer. This will help you identify areas for improvement. 2. Track key actions: At each stage (awareness, interest, decision, action), pinpoint what you want users to do (e.g., sign up for a trial, watch a video). 3. Reduce friction: Make each step in the funnel easy and smooth. For instance, is your sign-up process complex? Can it be simplified? My perspective: A well-designed funnel with minimal friction is key to growth. Think of it like guiding users down a gentle slope towards becoming a customer, not a steep, rocky cliff!
Dise?ar un embudo efectivo es crucial. ?? Personaliza cada etapa desde la conciencia hasta la acción, identificando las conversiones clave y estrategias para guiar a tu audiencia. Un embudo bien dise?ado alinea tus objetivos de negocio con las necesidades del cliente.
It is essential to be clear about the stages of the funnel, what its objectives are, what effort is needed to complete the objectives of these stages and the KPIs to measure.
The third step is to experiment and test. Experimentation and testing are the core of growth hacking. They allow you to validate your assumptions, measure your results, and learn from your failures. You can use various tools and methods to run experiments and tests, such as A/B testing, landing pages, email campaigns, social media ads, referral programs, and gamification. The key is to have a clear hypothesis, a measurable goal, and a data-driven approach. You should also prioritize your experiments based on their potential impact, cost, and feasibility.
In growth hacking, speed is the key. Use the Minimum Viable Products (MVP) strategy to confirm hypothesis effectiveness before full-scale development. For instance, if you believe ready-made templates will attract new leads to your service, don’t waste your time developing actual templates. Instead, make a few offers and test them on Google Ads. Ads’ CTR will show you if the audience is interested. Yet, remember that you need to run tests till you have statistically significant data. Hypothesis testing can vary in duration depending upon the data required for statistical significance. So personally, I opt for experiments when we can get enough data quickly. It allows you make conclusions and grow faster.
A/B experimenting is the key to finding out what's working and what's not. Once you get some data. From the data, You should analyze churn by customer segments to understand why customers are leaving. This will help you create targeted campaigns to reduce churn.
La experimentación es el corazón del growth hacking. ?? Pruebas A/B, campa?as de correo electrónico y anuncios en redes sociales son herramientas esenciales para validar tus hipótesis. Un enfoque basado en datos permite aprender de los éxitos y fracasos.
Hypothesis testing to optimize the funnel will need to be based on the KPIs of the stage. If it is engagement, it is necessary to identify what is not necessarily in agreement, and then carry out tests.
1. Test and Learn: Don't guess what works best! Experiments help you see what truly resonates with your audience. 2. Measure Everything: Track results closely. This helps you understand what's driving growth and identify areas for improvement. 3. Prioritize Smartly: Focus on experiments with the biggest potential impact and easiest execution. 4. Be Data-Driven: Use data to guide your decisions, not hunches. Make adjustments based on what the information tells you. 5. Keep it Kind: Remember, you're testing to improve the user experience. Make the process smooth and enjoyable whenever possible.
The final step is to optimize and iterate. Optimization and iteration are the processes of improving and refining your funnel based on the insights and feedback that you get from your experiments and tests. You can use various techniques to optimize and iterate, such as segmentation, personalization, automation, retention, and loyalty programs. The goal is to reduce churn and friction, increase engagement and satisfaction, and maximize customer lifetime value. You should also keep an eye on the key metrics and indicators that reflect your funnel performance, such as conversion rates, retention rates, churn rates, customer acquisition costs, and customer lifetime value.
Growth hacking is an ever-evolving field. What worked yesterday might not work today, and what's working today might not work tomorrow. So continuously enhance based on data analysis, customer feedback, and market trends. Stay agile and aligned with evolving needs. Keep optimizing your funnel based on the above data and keep refining them.
Optimizar e iterar continuamente es vital para reducir la rotación y la fricción. ?? Utiliza segmentación, personalización y programas de fidelización para mejorar la experiencia del cliente. Monitoriza métricas clave como tasas de conversión y retención.
1. Test and Learn: Run experiments and gather feedback to understand what works best in your funnel. 2. Personalize the Journey: Tailor your approach to different customer segments for a more relevant experience. 3. Reduce Friction: Make it easy for users to move through your funnel with clear steps and minimal obstacles. 4. Boost Engagement: Keep users interested with valuable content and interactive features. 5. Reward Loyalty: Implement programs that show appreciation and encourage repeat business.
The optimization stage is based on objectives that have not been achieved or that can bring more results. A slightly neglected step is documentation, which, if done well, can bring great insights for future tests.
Optimizing conversion rates at each stage of the funnel is crucial for e-commerce success. Here are strategies for "Interest" & "Decision" stages: ?? Interest: ???? Develop engaging content such as blog posts, videos, or infographics to capture and maintain interest. ???? Use email marketing campaigns to nurture leads and provide valuable information. ???? Offer incentives like discounts or exclusive content to encourage sign-ups or subscriptions. ?? Decision: ???? Provide detailed product information and comparisons to assist in the decision-making process. ???? Use customer reviews and testimonials to build trust and credibility. ???? Implement retargeting ads to remind potential customers about your products.
Use the FAQ most consulted questions, consult your client service team to gather the feedbacks and enhance your funnel with kind words that will answer to their fears / pains. Answering to your audience at the right time is key to ensure a reliable business growth !
El growth hacking ético es clave para el éxito a largo plazo. ?? Evita tácticas cuestionables que puedan da?ar tu reputación. Siempre respeta la privacidad y el consentimiento de tus clientes y sigue las mejores prácticas.
Friction isn't necessarily a bad thing. It can be an efficient way to weed out unqualified leads in order to focus on the best ones. Remember, in B2B, you don't want to flood your sales teams with leads. You want to get them the right ones they have a decent chance of closing.
Growth Hacking follows this very basic flow TG >> Design >> Experiment >> re-iterate >> perfect up. Off these getting the TG right is one of the most important ones. all subsequent communication plan, reach out plan etc stems from who are you addressing and connecting with. A change in TG will change the entire structure. One needs to be agile, experiment, fail, re-iterate and perfect up the experiment quickly. Wasting too much time, costs you resources and money and morale of the team working on the experiment. If you are expecting results in couple of years, do not call it growth hack, it may well be called some ATL or BTL experiment.
The optimization steps are essential, especially the documentation stage. This helped me a lot with future hypotheses, in particular, to identify why past tests were not successful.