Take action based on your results

THIS ARTICLE WILL HELP YOU: Turn your experiment results into future action Build on top of winning variations and set them live from the Results page Learn from losing variations Iterate on inconclusive experiments Once you’ve analyzed your results, you’re ready to take action. This is the big moment! Winning, losing, and inconclusive variations are opportunities to make decisions about your business, through data. If you find winning variations among your experiments, you’ll decide which changes to publish to your site — and how. Losing and inconclusive variations present another set of valuable opportunities: to learn from your results, hone in on expectations that your site is failing to meet, and conduct proof-of-concept tests before committing resources to an unproven idea. These types of results may not surface quick wins, but they focus your testing and keep you oriented toward long-term success. This article provides a playbook for effectively iterating on winning, losing, and inconclusive experiments. Use it to turn your data into action. Tip:Here’s what you’ll need to get started: test design document or hypothesis results of an experiment – winner, loser, or inconclusive (optional) developer resources Click to read more articles from our A/B testing strategy series. If you’d like to take a step back and dig deeper into your results, check out this article on interpreting your data. Definitions: winning, losing, and inconclusive What’s a winning, losing, or inconclusive variation? Winning: When at least one experiment variation shows statistically significant positive difference (% Improvement) from the baseline conversion rate for the primary goal, but potentially for other goals as well. Losing: When all experiment variations show statistically significant negative differences from... read more

Growth Hacking: A Primer

Introduction to Growth Hacking Almost every large successful internet company right now has a team dedicated to growth, but it isn’t some sacred thing limited to companies with millions of users. Since there seems to be a lot of interest (http://andrewchenblog.com/2012/05/11/how-do-i-learn-to-be-a-growth-hacker-wor… around what the process is like, hopefully this post can shed light on the situation. So what is growth hacking? I think of it as the practice of gathering data, exploring that data, and exploiting knowledge uncovered from that data in a systematized way to directly further the business goals of your company. Its more than just a role fulfilled by one person or a team of people, its a way of thinking you can use to make sure you’re getting the most out of the work you are putting into your company. It works for small startups (we prioritize development using this framework at Lookcraft all the way up to huge companies (Facebook’s growth team has massive influence across the whole organization). I like to think of it as a simple 5 step process that you repeat on a regular basis: 1. Determine Your Company’s Primary Goal Because your job as a growth hacker is to directly further the business goals of your company you must first understand what the primary goal of the company is and why. This is deliberately singular because its hard to do a good job serving multiple higher level contexts. A growth hacker with multiple goals falls prey in a more subtle way to similar forces that cause most corporate homepages to be an amalgamation of the top few things each department... read more

19 content marketing ideas that aren’t blog posts

Content marketing isn’t just for “writers.” 9 min read I talk to a lot of teams about content marketing, a great way to get quality organic traffic at higher volumes if you put in the work and do it right. Most of these conversations tend to start with: “So, we’re thinking of writing this blog post… should we write about X, Y or Z?” Or, “How can I hire someone to write more posts?” These aren’t the wrong questions to be asking — if you’ve determined that content marketing is an important part of your growth marketing framework. But, they make me a little sad. The reason is because, to me (and to your future traffic) content is blog posts, but it isn’t JUST blog posts. Content is holistic; it’s anything we can read, watch, see, or hear. Content is holistic; it’s anything we can read, watch, see, or hear. But content marketing is much more specific than that. Content marketing means that it’s easily quantifiable, measurable and repeatable. In other words, it’s not billboards. And it’s not just blog posts either (although those are great). Today, I’ll be sharing 19 content marketing ideas — with live examples — that aren’t blogging. If some of these are surprising or “don’t seem like content,” then I encourage you to think about all the ways content plays a role in your lead generation and nurture. It’s everywhere, if you only look. Finally, I always like to remind myself that content marketing is always content PLUS distribution, so I’ll also look at distribution channels and potential for each idea. I hope these... read more

23 Campaigns Every Startup Should Run to Gain Immediate Traction

I come from the direct response marketing world. The world where if you don’t get to CAC < LTV VERY quickly you need to move on. In fact, that’s the reason most startups die and the reason why most direct response marketing campaigns die even faster. But, over the years as I’ve become more interested in startups, I’ve been fortunate enough to coach and mentor 30+ companies, consult for more startups, teach a pre-acceleration course at 500 Mexico and make a handful of angel investments. This contact with the startup community allowed me to explore how effective the the direct response marketing mindset is when you apply it to the ever-changing reality of the startup world. This post shares the unit economics playbook that I developed while helping dozens of startups gain traction by working with their unit economic metrics. SO WHAT THE HELL ARE UNIT ECONOMICS ANYWAY Here’s a great answer on Quora with a definition I fully agree with. Unit economics are the direct revenues and costs associated with a particular business model expressed on a per unit basis. For instance: in a consumer internet company, the unit is a user. The fundamental unit economics in this case are: Lifetime value (LTV): the amount of revenue a single user generates during the entire duration of their usage of your service. Cost per acquisition (CPA): How much it costs to acquire a user. To the extent that LTV exceeds CPA, you have a business. SO WHAT JUAN?? WHY IS THIS IMPORTANT There are a few reasons why a closer look at unit economics is worth your time, NOW:... read more

How To Pitch A VC

5 pitch lessons (and a bunch of tactics) from the world of B2B sales “Everyone” understands the high-level goals of a pitch: Make yourself memorable, and drive home your product’s value. But working out how to put it all into one, non-boring pitch is another matter altogether — and something we work on extensively as part of the 500 Accelerator. Over the years, we’ve learned that sticking to a step-by-step strategy for pitching VCs is a common struggle for startup founders. Do they introduce themselves before or after their companies? Should they list their most impressive metrics upfront or work them into the pitch? What’s the proper way to end investor conversations? Good pitches follow a rigorous structure for engaging investors and proving a company’s value. Like all good marketing and sales, the startup pitch process starts before you ever walk into the office—it starts with research. 1. Know Your Audience Before you ever walk into a VC’s office, you need to research the person you’re going to be meeting and adapt your strategy accordingly. First you have to understand his/her interests: Does the VC have expertise in your area? Adjust your pitch according to how much background knowledge they have. Have they had any successes? If so, frame your company in a similar light. Did they publish mission statements? Figure out their priorities and focus on addressing them. Then you have to understand the logistics. You need to make sure the fund is in a position to invest in you and that you’re talking to the people who can make it happen: What is their fund size? If they have a $25 million... read more