Triple Digit Growth

I was invited to speak at the Sirius Decisions Summit in Las Vegas. If you are not familiar with Sirius Decisions, take a look here. They are an outstanding source of information, and the summit was no different.

Here are some thoughts I shared during my talk. Topic at hand: “Strategies To Position Your Org For Triple Digit Growth”

This issue is rather important. In the world of growth, behavior analytics and a/b testing, you kind of want to have a plan of execution. I don’t see it often.

This is the idea – when you start a/b testing, what you find is that most Orgs rarely stay the course across a specific linear funnel and exploit a strategy to position the team for triple digit growth.

Example of independent gains

1st group is running a/b tests on a Landing Page (Achieves 25% lift)

2nd group is a/b testing a Newsletters (Achieves 26% lift)

3rd group is launching a/b tests on their iOS App (Achieves 27% lift)

In summary we have 3 a/b tests. Each will ultimately have their independent gains. And it’s the independent gains we want to reposition.

Let’s take a closer look at the landing page scenario. When examining the finer details of this experience, we can isolate all the steps of this given linear funnel.

Example on how to position of triple digit growth

Step 1: Visitor arrives to landing page and must complete the lead form

Step 2: Visitor should check email and confirm account

Step 3: End user must “activate” their account. This could be 1 or many steps.

Examine how we are thinking about this funnel.

Visitors arriving to landing page should be motivated to sign up (complete lead gen form).

Registered users should be motivated to confirm their account (open email and click).

Confirmed users should be motivated to activate their account (gain access to their account and take some core behavior).

To reiterate – we are optimizing to increase; leads, open and click rates, and activated end users. Essentially 3 steps (potentially more depending).

Why?

By focusing on a single linear funnel, with the same effort as independent gains, we can begin to set a strategy in place to create compound gains. If you know anything about compounding interest – this is the time to pay attention 😀

How

Concrete example when repositioning results in compound gains

1st group is running a/b tests on a Landing Page (Achieves 25% lift)

2nd group is a/b testing activation email open rates (Achieves 26% lift)

3rd group is launching a/b tests for activation rate (Achieves 27% lift

It is the same linear funnel, but the gains compound. And you have achieved triple digit growth.

The principle is simple in nature. It can be applied to various aspects of your business. I did it all the time at Symantec, TripAdvisor, Cisco and many more : )

Need help setting this up? Shoot me an email.

Brion Hickey