Table of Contents
Note: SaaSwrites is a curated growth marketing hub and resource built to help SaaS founders grow their products. We sincerely thank all our experts for their constant value addition to this world.
Updated on: 04/04/2022
Optimize to improve your growth percentage. Here are 9 tips from growth experts:
Alex Garcia says stop chasing vanity metrics. Instead, put all your focus on optimizing these 6 user-behavior metrics to drive growth
1. Awareness
Generating brand awareness is the act of winning someone's attention. Whether content marketing, paid marketing, or influencer marketing, attention is the bridge to building trust. Once you have it -- don't waste it
2. Acquisition
Your acquisition efforts refer to the first moment a customer exchanges their info for value creation. To optimize your acquisition efforts follow The Bullseye Framework to test and find your next growth channel.
H/T GrowthHacker
3. Activation
Customers want to be delighted from the first customer touch point and ongoing. If not, the chances of getting the consumer to act drops significantly. Don’t want to ruin this ? Have an onboarding strategy that focuses on time to value.
What’s the activation/onboarding road map look like?
For ex: They just signed up for a newsletter — what’s next?
Someone just installed your app — what’s next?
Your onboarding process always answers what’s next.
4. Retention
There are two types of businesses:
- Toot it and boot it - meaning buy once and never communicate again
- Looking for a long term relationship - investing time and money in making their customers happy and a part of the life cycle of the brand
Be option #2.
Retention = long-term growth.
Retention drives:
- Acquisition (word of mouth, referrals)
- Monetization (same customer buying over and over)
- Affinity (people loving your brand)
Strategies to improve retention:
5. Referrals
Referrals are the missing element that creates a machine that feeds itself. Where all your acquisition efforts reinvest themself into more output.
6. Revenue
Your customer is here. They’ve bought your product, use it, and love it. Jobs not finished though. Your focus should be on these 3 metrics:
7. Go through the funnel
Start with the conversion events at the top of your funnel and work your way down. Are you costs normal? Is there a spike in cost after a certain event? This helps a lot to see if customers are getting stuck in a certain spot in the funnel.
8. Start with your ads
When you are looking at your ad sets, make sure you are looking at the performance of your ads prior to making a decision. This is one of the most common mistakes I see beginners make. Certain ads will resonate better/worse with certain audiences.
9. Follow the data
PLEASE PLEASE PLEASE do not make decisions based off a tiny amount of data. This is why I am not a fan of $5 a day ad sets. Allow your ads to gather enough data so you can make an objective decision.
