How do you acquire more than 7M paying customers in less than 10 years? 🤯 Data-driven decisions 💪 Henry Shi shares Super.com's super growth story: https://bit.ly/4bBZCiQ
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🔥 We Build Highly Converting Direct Response Funnels | Increase Your ROAS By AT LEAST 10% Guaranteed 🔥
Major conflict. Ok not that major but… CRO = Conversion Rate Optimization. That is, optimizing (improving) conversion rate. Clear cut. Whether or not you say it’s for learning purposes or not, if you took someone who knew nothing about the industry and told them conversion rate optimization, of course they’d say it’s improving conversion rate. So I’m not surprised most people see it this way. And it doesn’t even bother me. But… I’ve started to see a newer trend that kinda bothers me. People who do CRO who also insert AOV optimization inside CRO. Guys.. If you do CRO then you are trying to improve the conversion rate. Not the average order value. Those are 2 different KPI’s. They’re metrics that have different values to an eCom business. This isn’t up for interpretation. It’s common sense. Agree? Or am I a bit cookoo?
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Curious about the future of online research? Our latest feature in Greenbook's 2024 GRIT Insights Practice Report, by Co-CEO Greg Matheson, has got you covered! Discover how sample marketplaces and programmatic sampling are reshaping the industry, the hidden challenges of fraud, and practical steps to enhance data quality and transparency. If you have any questions, we're all ears! Email us at [email protected] 📨 #mrx #datafraud #dataquality
Sample Marketplaces, Programmatic Sample and the Economy of Fraud
greenbook.org
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It's one thing to measure CAC correctly, and another to reach to a good CAC. Good CAC isn't just about some benchmark number or low cost, it's about how fast you get your payback. Therefore, CAC relevance isn't only at the acquisition stage, the more you retain the user, the more you upsell to them, the faster you will get your CAC back. Think about the whole engine. Don't isolate different parts of the funnel.
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Nerd alert 🔔 ChartMogul released new benchmarks! So, we couldn't miss an opportunity to look at the customer retention rate for the companies with $3M-$8M ARR (our sweet spot at saas.group) in the last 12 months. I think this is something to add to our discussion with Scott Hurff and Klaus-M. Schremser tomorrow when we talk about the state of retention in 2024! What do you think? Don't miss out on this opportunity to learn what guys at Churnkey have uncovered after analyzing over 100M cancellations 🤯 We're going to talk about the reasons customers churn and payments fail, what cancel flows customers respond the best to, and much more. Find the link to the one-of-a-kind State of Retention report and the link to register for the event in the comments 👇🏻
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Weekly Update 4.5.24 ⚡ Q2 was off to a roaring start. • Biggest week of inbound merchant demand in company history. We've shortened all meetings to 20 minutes to accommodate. • Made meaningful improvements on documentation, videos and resources to move towards a more self-service installation. • I previously shared an update around some of the challenges we've had with protecting deep work across the organization, but particularly within engineering. We had a company-wide Show Tell this morning where people presented the impact they've had on our customers, product, and business. The impact was felt, largely because deep work was protected. We iterated on our operating cadence — engineering org has doubled the amount of deep work time and commercial org added meaningful pockets of deep work. Essential ingredients for building a world-class product. Let's keep it up! • Net LTV data for our merchants has been exceptional. One of our merchants who's been with us for years has the highest LTV lift in our portfolio. Shoppers acquired through TryNow have a ~150-200% increase in Net LTV after returns across 6-12 month cohorts. Data was from a 3rd party analytics platform… I don't trust software vendors' data either ;-). Our industry talks a lot about loyalty and retention. The building blocks of retention are a great product, getting more of your product into the home on the first order, and a world-class experience. All other tactics can amplify LTV, but alone they will not solve for a retention problem. #trybeforeyoubuy #trynewthings
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"Obvious" ways to increase conversion rates don't always produce results. We ran a test for a client recommending the placement of a product carousel on the homepage. The hypothesis? "We believe this change will lead to ↑ PDP visits and subsequently, ↑ cart adds." Turns out, it didn't move the needle on product clicks or cart adds, and significantly decreased category page visits. The obvious test ended up being scrapped, and the control held its ground. There are 100s of factors that make a site tick. That's why we test. Here is a snapshot of the final results:
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📣 Big news at Smartrr! You might’ve noticed that we’re looking a little different today… We’re 3 years smarter and have learned a ton about what growing brands need to succeed: flexibility, insightful data, robust features that help to reduce tech costs, and a partner that is there when you need them. Our new look is a reflection and recognition of just this. More importantly, this update goes beyond aesthetics with enhanced functionality targeted at boosting merchant success: ✅ Enhanced add-on features to increase AOV for subscribers ✅ A new best-in-class billing engine with 100% success and 0% downtime ✅ New features for better subscriber retention, including improved out-of-stock product management and smarter triggers for failed and expired payments ✅ Additional perks for subscribers and repeat customers, including access to special products and rewards, and easy subscriber conversion tools ✅ An 80% faster admin portal and analytics dashboard ✅ A significant upgrade to our subscription flow builder that gives merchants even more control over how they sell subscriptions What’s more, our product roadmap is as clear and exciting as ever. These are products that you won’t find anywhere else on the market, help to consolidate your tech stack, and are designed specifically with the needs of growing merchants in mind. In other words – no fluff, all impact 🧠 Visit our site to see the new look…and stay tuned for more updates. https://smartrr.com/
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Woke up this morning hitting a milestone at StatsDrone for new customers. At the start of 2023, we ditched Sales-led growth (SLG) for Product-led Growth (PLG) and it has helped us get to where we are today. Shoutout to my business partner Darrell Helyar for saying f*** this, I'm gonna start building features myself and that led to creating the invoice generator, which led to tagging of campaigns, then deal CRM, then data alerts and triggers, then a redesign and then mobile. #plg #productledgrowth #saasgrowth
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Have you experienced a frustrating lack of conversions? There are some common factors that may be contributing to these less-than-stellar results. Luckily, with a few quick tweaks, you'll start seeing the customers pour in! Keep reading: https://bit.ly/3DVCmyc
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