GrowthHackingIdea - How they lost $180M (popular mistake)
Easy SOC 2
Your business needs SOC 2. But compliance is complex, time-consuming, and costly. Uncomplicate it.
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 ;)
Your friend wants to get access to our invite-only community of growth hackers from companies like Uber, Google, Microsoft, TechStars, Disney, Adobe, Coca-Cola, Amazon, etc.? Here's your personal invitation link for him/her: http://e.growthhackingidea.com/?ref=2145324&a4=1&a5=9
Unsubscribe | GrowthHackingIdea / StartupGrowth.com | 1460 Broadway New York, NY 10036
Older messages
Your next $100M company (1 simple approach)
Tuesday, September 6, 2022
Easy SOC 2 Your business needs SOC 2. But compliance is complex, time-consuming, and costly. Uncomplicate it. Sponsored Today's hack Your next $100M company (1 simple approach) All the niches are
Market/Product/Channel/Model Fit (framework)
Monday, September 5, 2022
Today's hack The Market/Product/Channel/Model Fit Framework When I decided to launch my first startup the only thing I thought of was to turn my dreams into reality. And this is why I failed 9
How to boost organic reach on Facebook
Sunday, September 4, 2022
Today's hack How to boost organic reach on Facebook If you just post on your Facebook page, on average, less than 1% of fans will see it. You can increase your organic reach through paid promotion
+6% to retention in 20 minutes (super easy)
Saturday, September 3, 2022
Today's hack +6% to retention in 20 minutes (super easy) Gina Gotthilf, VP of Growth at language education platform Duolingo, shared her favorite A/B test. This test led to a 6% increase in
+10% more signups (easy-to-apply study)
Friday, September 2, 2022
Today's hack +10% more signups (easy-to-apply study) WhenIWork SaaS tried to boost their sign-ups. One of their tests decreased their sign-ups by 10%. And another one - increased by 10%. Test #1.
You Might Also Like
Neil Patel’s hack to gain social shares
Sunday, January 12, 2025
I love that you're part of my network. Let's make 2025 epic!! I appreciate you :) Today's hack Neil Patel's hack to gain social shares Neil Patel mentions at least 100 external links
🦸🏻#7: From Agentic AI to Physical AI
Saturday, January 11, 2025
How Jensen Huang worked backwards to start creating the future for the world + trends in AI and Robotics to keep an eye on
Voice search is the future
Saturday, January 11, 2025
Within the next 10 years, the majority of searches will be voice-driven. Voice search is changing the way people interact with search engines—and it's creating new opportunities for businesses to
Saturday Stuff: January 11th 2024
Saturday, January 11, 2025
January 11, 2025 | Read Online Saturday Stuff: January 11th 2024 Happy Saturday! Here's some stuff I'm checking out this weekend: #1 nader dabit @dabit3 New Video - Building an AI Agent with
Your Competition Isn’t Always Out to Get You
Saturday, January 11, 2025
It Often Just Doesn't Care To view this email as a web page, click here saastr daily newsletter This edition of the SaaStr Daily is sponsored in part by Stripe Your Much Bigger Competition Isn'
Does Google like my site now?
Saturday, January 11, 2025
If not, who cares. If they do...great!
'Do It, Even If You're Afraid'
Saturday, January 11, 2025
We spoke with sports anchor and reporter Tina Nguyen about adapting to change, building confidence as a public speaker, and fostering genuine connections in a world increasingly dominated by instant
A record-shattering credit year
Saturday, January 11, 2025
Also: 2024 VC data is here; Venture performance set to rebound in latest data; New research on AI and healthcare, legal tech, and warehouse robotics. Read online | Don't want to receive these
A 300% increase in sales??
Saturday, January 11, 2025
Seats are going fast! Don't miss out! View in browser ClickBank Logo -- BREAKING NEWS -- One-on-one coaching is now available in February! This is your chance to work directly with one of the best
Easy to understand tutorials via email
Saturday, January 11, 2025
I love that you're part of my network. Let's make 2025 epic!! I appreciate you :) Today's hack Easy to understand tutorials via email Text is boring. Create a short video tutorial, upload