GrowthHackingIdea - How they lost $180M (popular mistake)

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Today's hack
How they lost $180M (popular mistake)

In 2014, Marks & Spencer redesigned their apparel website.
The effort cost $180 million.

Upon launch, the site saw an immediate 8% drop in sales.
For them, that's about $10 million per month in lost sales.

Ouch!

Imagine you as a startup founder raised $180M, invested it in redesign, and your sales dropped by 8%.
Oh, it would hurt so badly. It would destroy your reputation and eventually your company.

What was the mistake?

Marks & Spencer relied on the genius intuition+creativity of the most talented designers in the world while intuition+creativity without previous data-driven research is gambling.

Here's the process they should follow:
1. Analyze pain points and friction of their current customers throughout the whole AARRR metrics funnel via customer surveys and analytics.
2. Uncover bottlenecks.
3. Prioritize bottlenecks.
4. Generate ideas to solve the worst bottleneck first.
5. Test most promising ideas, analyze results.
6. Choose the winner.
7. Switch to the next worst bottleneck.

Next time your CEO tells you to redesign your website, show him this study.

Source: conversionsciences.com


Cheers,
Charlie Patel ;)

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