5 simple growth experiments to increase conversion & revenue
Navigating the vast landscape of growth can be an challenge. There are hundreds of growth tactics to try. Deciding where to focus is crucial.
Our mission is to simplify your journey, saving you both time and money. Every tactic we present here has undergone rigorous testing within our own product portfolio, boasting a proven track record of success.
In this article, we share 5 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
Past Result: ~10% increase in the # paying users started on your platform.
Dev Cost: ~1 day of effort
Thanks for reading GrowthHacker's Insider! Subscribe for free to receive new posts and support my work.
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 "Buy Now" 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.
Personalize your Landing Pages
Past Result: ~15% increase in the # of logos (new sales) started on your platform.
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. Side benefit of this: creating specific landing pages for specific features/product 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
Linkedin Landing Page for Recruiters:
Create a high value user incentive to drive adoption
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. In order to incentivize them, you allow the consumer to pay the business even before the business has gone through KYC. Doing so, you’ve created a financial incentive for the business to complete KYC to accept the payment. The messaging to the business is “You have $X waiting for you - 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 in order to get immediate gratification of seeing who is behind the paywall.
Simplify your mobile web UI
Past Result: ~8% increase in the # of paying users on your platform. Even larger if you scale it to other pages.
Dev Cost: ~3 days of effort
With the ever-increasing dominance of mobile devices, optimizing your mobile web pricing page is paramount. In this experiment, we explore the effectiveness of simplifying the mobile web pricing page compared to the desktop version.
Mobile users often have limited screen space and shorter attention spans. Recent study concluded by Microsoft shares how attention span has reduced to 8 seconds. Thus presenting them with a streamlined pricing page can enhance their experience and reduce friction. Consider condensing the information, prioritizing the most important details, and using a mobile-friendly layout that facilitates easy navigation and decision-making and have a hovering CTA that is close to the user’s thumb (that is easily reachable) and will boost conversion.
Remove Distractions and Headers to encourage purchasing
Past Result: ~5% increase in the # of paying users on your platform
Dev Cost: ~1 day of effort
Paid traffic requires a laser-focused approach. In this experiment, we remove distractions and streamline the user journey by removing all headers from your landing pages, except for the pricing page.
By eliminating unnecessary navigation elements, you keep the visitors' attention solely on the pricing page, where they can evaluate the cost and make a purchasing decision. This simplified approach reduces friction and increases the chances of conversion for your paid traffic. This is even more important for paid traffic specifically as paid traffic tends to have lower buying intent as compared to organic traffic as users specifically searched for it
Conclusion
Remember, one size does not fit all. Embrace the need to adapt and tailor these experiments to suit your unique challenges and opportunities. Share your thoughts, feedback or experiment ideas in the comments section, and let's continue learning from each other. If you would like to receive further growth ideas, subscribe to our newsletter.
If you have interesting experiments to share, we'd love to connect and add your learnings to the newsletter.
Thanks for reading GrowthHacker's Insider! Subscribe for free to receive new posts and support my work.