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GROWtalks - How to Experiment Your Way Out of Beta - Rick Perreault Unbounce
- 1. Experiment Your Way Out of Beta! Or be stuck in a perpetual cycle of ignorance & low revenue Rick Perreault Co-Founder & CEO Unbounce.com Find me on twitter @rickperreault Slide #1 of 24
- 2. What is an experiment? "scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact." Important because they test your assumptions & get you closer to the truth Iʼm going to show you 3 types of experiments that you should use to get out of beta
- 3. How do I start an experiment?
- 4. How do I start an experiment? I heard about you from... I would definitely pay if... I tell my friends... I hate you because... I love you because... Customer feedback will give you insights & help ask good questions
- 5. How do I start an experiment? Surveys quick & easy way to get lots of customer feedback
- 6. How do I start an experiment? www.survey.io Step 1: fill out these 5 form fields
- 7. How do I start an experiment? www.survey.io How did you discover sample app? How would you feel if you could no longer use sample app? What would you likely use as an alternative if sample app were no longer available? -> What is the primary benefit that you have received from sample app? -> Have you recommended sample app to anyone? (If Yes, please explain how you describe it) What type of person do you think would benefit most from sample app? How can we improve sample app to better meet your needs? Would it be okay if we followed up by email to request a clarification to one or more of your responses? Step 2: email these 8 questions your customers, done!
- 9. Experiment #1 I love surveys! Not only for discovery, test hypothesis as well
- 10. Experiment #1 My Hypothesis: Customers that pay us the most & stay with us the longest have a different product wish list than those who pay us the least (but make the most noise) My Test Method: Survey our customers asking them to priorities feature request & segment to track responses by pricing tiers
- 11. Experiment #1 Customers paying... $25 per $125 + per month want month want features A, B, features F, G, C H
- 12. Experiment #1 Action Item Use a survey to learn what your customers find most import (to get out of Beta) If you have different customer types (Free, Paid, Paid Tiers), segment I used
- 14. Experiment #2 A/B Test Version A (control) 50% Traffic 100% Traffic Version B (test group) 50% Traffic Running two or more variations to determine which one converts better
- 15. Experiment #2 Test ad copy, email (subject/body), website & landing pages elements, example: 1. Value Proposition (your headline) 2. Image/Video of product or context of use 3. Core Benefits 4. Request for data (form size) 5. Call-to-action (CTA) 6. Trust elements (Testimonials) 7. Secondary CTAs (social sharing) Your conversion rate WILL improve if you test
- 16. Experiment #2 Version A (control) (Variant - new headline) (Variant - new headline + smaller page) Conversion 10% Conversion 14% Conversion 17.5%
- 17. Experiment #2 Action Item Use Survey.io question #4 & #5 results to develop new ways of describing your startup and test it against what you currently have. I used
- 19. Experiment #3 “Fake It” Test Developing features are expensive so you should test interest in the feature before you spend time developing it.
- 20. Experiment #3 I Wanted to Know: Would customers be interested in benchmarking their conversion against their industry average? Nothing says ʻinterestedʼ like clicking a “Buy Button” My Test Method: Fake Landing page describing the feature with CTA tracking
- 21. Experiment #3 Landing Page Link from App CTA, buy for $5/mo
- 22. Experiment #3 Landing Page 15% Clicked Buy
- 23. Experiment #3 Action Item I havenʼt done many ʻfake itʼ experiments Best advice read “The Lean Startup” This action doesnʼt require any software or dev time
- 24. Thank You! Any questions, find me on twitter @rickperreault