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Growth Hack #1 – 2X More Sign-ups by Predicting Customer Objections:
CrazyEgg tested the following modifications to their signup process. As a result, they got twice as many people to give them credit card info:
1. Added an FAQ entry, “Why do you need my credit card for a free trial?” – (to prevent multiple free trials for one person).
2. Added an explanation: “Nothing will be billed for 30 days. You can cancel at any time.”
3. Added a list of companies that use their product.
4. Order total: Changed from “$49 per month” to “$0 for 30 days” + small text “after 30 days: $49 per month”.
Crazy Egg installed a survey tool on the checkout page so they could understand what objections were on the minds of visitors right there. This helped to create the FAQ box and subsequent steps to counter those objections and get people to convert.
Growth Hack # 2 – Give Customers FOMO:
The sales concept of scarcity works best when you consistently follow through on the ‘threat’ to expire the offer.
When selling something online, TRY:
– Decreasing your free trial time period (cut it in half or more)
– Limiting free trial units (only X available)
– Display a counter — time OR units are running out
Delayed conversion = lost conversion. Encourage them to ACT NOW.
Source: 500 startups
Growth Hack #3 – 3 Steps to Earn 192% More Google Shopping Ads Revenue:
With just a few steps, you can make more from your Google Shopping Ads. Here’s how:
1. Analyze your query data and pick out long tail (more than 3 words long) search terms that are product-specific and generate the highest volume and revenue. Raise your bids on those terms.
2. Set up remarketing ads to those who:
– Viewed basket, didn’t commit to purchase
– Viewed a high ‘detail-view’ to checkout-rate product
– Viewed website for over 4 minutes in one session
– Viewed site in the past 5, 10 and 15 days
– Viewed site from high converting location
– Viewed site from high converting device
– Viewed site and in top lifetime value segment
3. Segment your data by mobile devices, gender, age, geography and find who generates the highest ROI. Then focus your ads specifically on the most valuable segment.
If you find that time and day influence ROI, you can use a chart like this to track: http://growthhackingidea.com/
Create scripts to automate bidding across this custom schedule.