3 growth experiments to increase paid users by 35%
In this article, we share 3 growth experiments that we've successfully implemented in our products, requiring minimal to no engineering efforts on your part. Let's dive right in!
Showcase your free trial as $0/mo not “Start Free Trial” increased paying users by 10%
Dev Cost: ~1 day of effort
A simple yet impactful experiment involves updating your call-to-action (CTA) and price to highlight a free trial offer. By changing the language from "Start Free Trial" to "Try for $0”, or the price is $0 during a free trial you tap into the power of the "try before you buy" concept. This approach reduces the perceived risk for potential customers and encourages them to take that first step toward experiencing the value of your product.
Tip: Relevant areas to try this are pricing page, landing page, product upsells, email campaigns
Personalize your Landing Pages to increase new sales by 15%
Dev Cost: ~1 week of effort
In this experiment, we embrace the power of personalization. By dynamically customizing the copy and imagery on your landing pages based on the visitor's intent or persona, you create a highly relevant and engaging experience.
By creating separate landing pages for your traffic based on persona or intent, you can deliver a tailored experience that resonates with your visitors on a deeper level. A side benefit of this: creating specific landing pages for specific features/products also helps with organic SEO.
Consider LinkedIn, where the growth team aims to secure more logos. From the business side, there are many use cases on why a business would convert: 1) they want to advertise a job (link) 2) they want to source candidates 3) they want to use it for employee training (link). Assume you have a campaign running to advertise a job - you would create a landing page that is specific to advertising.
Example Copy for someone looking to advertise a job (shared below):
Title: “Linkedin Jobs”
Description: “Post your open roles on Linkedin and easily target, prioritize, and manage qualified candidates”
Image: GIF showcasing how you can target certain candidates
Tip: You can use the following data points to personalize: search keyword, campaign topic, clicking on specific product area on the page amongst others.
Linkedin Landing Page for Recruiters:
Create a high-value user incentive to drive 20% increase in #active users
Past Result: ~20% increase in the # of “active engagers” on your platform
Dev Cost: ~1 week of effort
One powerful growth experiment for product managers is to offer a user-centric incentive that genuinely matters to your audience. Rather than implementing gamification for the sake of it, focus on meaningful rewards that resonate with users. The key is to align the incentive with user needs, driving them to take action and ultimately boosting conversion rates significantly.
Example #1 :
You’re a Product Manager and you’re in charge of scaling your payments platform but you realize the blocker is getting more businesses to complete KYC (Know your Customer). This is a very long and cumbersome process for the end user. To incentivize them, you allow the consumer to pay the business even before the business has gone through KYC. By doing so, you’ve created a financial incentive for the business to complete KYC to accept the payment. The message to the business is “You have $X waiting for you - the user paid you please complete your KYC process to have it sent to your bank account”
Example #2:
You’re a Product Manager and you’re in charge of increasing conversion to a paid package in the dating industry. You’ve noticed that one of the “carrots” you can dangle is to showcase how a boost to your profile can bring in more matches to the end user. You give them a one-time boost and then when these matches come in you label them as “Matched through boost” so the end user understands the value a boost brings to their dating life and how much time it saves them, in turn they will convert at a higher rate
Example from dating apps: The carrot in this case is that you’re visually able to see how many people have liked you - it’s only 1 click away to start a conversation. This incentive is so strong that users are willing to upgrade to get immediate gratification of seeing who is behind the paywall.
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