Growth Hack

To understand Growth, you need to understand two things:

1. Traffic
2. Conversion
   1. Landing Page to Sign Up Conversion
   2. Signed Up Users to Paid User Conversion

A standard user funnel looks like this: Traffic > Landing Page > Sign Ups > Paid Users

Before Solving for Traffic, You need to understand the conversion –

Landing Page to Sign Up Conversion

• Your landing page is basically you pitching your product to a prospective user. If you get it right, they may sign in; If you don’t, they will not.
• It is very important to get the landing page right so that you can get maximum number of users to sign up for your product.
• Generally, landing page conversions hover between 15-25%
• Hero Section Copy, Call to Action (CTA) Buttons and a bunch of other factors can help improve landing page conversion

Signed Up to Paid User Conversion

• Once your user is in, this is where your signed to paid user conversion kicks in. It basically measures how many signed up users are paying for the product.
• It is largely dependent on two factors:
  1. Product
  2. Pricing
• You have to get both of them right to hit a good conversion number. Generally, 5-7% is a good conversion number.
• You need to get your product right otherwise you will find it very hard to improve this number.
• Tips to improve signed up user conversion
  1. Create Email Flows to Convert Users even after they leave the tool (Welcome Email, Features Email, Use-Cases Email, Special offer Emails)
  2. Discount Code for Users
  3. Special Offer Emails
  4. Push Notifications (If you have an app)
  5. Modals/Pop-Ups for second login

Once you are able to get ~20% of the users to sign in and 5% of those users to pay, You should focus on Traffic. Don’t optimise for Traffic unless you have fixed your conversion.