Market Mix - 🔍 Growth Loop

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Heyyo. It’s Alex. If you’ve been following for a while you know I’m training for the CrossFit games. My downfall is long-distance running though. Always was. I’m a born sprinter. Played college football and played running back at FIU in Miami. A 250lb linebacker? No fear in my eyes. A mile run? I’m scared shitless. So, what’s the solution? The Austin marathon this February. I’ll share all the training updates here and on IG. LFG

But first a big thank you to our partners Vidico and Insense.

Most viral growth strategies are only applicable to brands that have a big budget and are ready to scale.

Luckily, our friend Trent Turner, Director of Performance Marketing at Eight Sleep, shared a masterclass on how to maximize growth on a budget.

And you should 100% sign up here.

But, It comes down to a 5-step growth loop you can start to act on right away.

Work with Influencers to promote your product

This isn’t groundbreaking. But from a cost-efficiency perspective, this is the best starting point for young brands.

You can kill two birds with one stone:

Search for creators related to your niche and see who is already posting reviews and reach out.

And get creative by working with influencers who don’t typically create with brands from your niche.

For Eight Sleep, you would think they should work with health lifestyle influencers.

Instead, they collaborated with a variety of influencers, including athletes, TV personalities, tech influencers, and neuroscientists.

Turn top creator creatives into paid ads

You know about the importance of creative testing for paid ads.

However, testing = bleeding money.

If you cannot afford to do that yet, simply turn the top influencer creatives into paid ads.

You’ll find the best creatives by looking at which creator’s post has the highest engagement, what type of content drives the most traffic, etc.

It’s less risky because you already know that creative is a top performer.

Eight Sleep turned Marques Brownlee’s post into a BFCM ad.

Bonus tip: Repurpose creators’ posts into a wall of social proof on your site.

Get the most out of paid & influencer traffic with a custom landing page

Eight Sleep created a custom landing page for the Marques Brownlee ad.

This is called “keeping the scent trail the same.”

Where the ad creative matches the landing page design.

The page is optimized to achieve a few goals:

Most people won’t purchase on the first visit, especially when you have a high AOV, so make sure you are set up to retarget these people.

Trent recommends two primary email flows before running ads:

For those who don’t become a lead, you can use a tool like Smart Recognition to turn anonymous traffic into leads.

How to increase your conversion rate and average order value.

If you increase your conversion rate and AOV, you can improve marketing efficiency (lower CAC, better margins).

Simple as that.

Trent recommended two areas to focus on:

Simplified checkout flows.

Think about how you can motivate shoppers to check out easier & faster.

Eight Sleep features ShopPay as a one-click checkout option directly on the product description page (PDP), as Shopify claims that “Shop Pay can deliver up to 50% better conversion compared to guest checkout”.

Eight Sleep also highlights its shipping, warranty, and return policy to remove objections at the moment customers are considering a purchase.

Cross-Sell/Upsell to increase AOV

Eight Sleep cross-sells their mattresses along with the pod cover (core product) and makes it easy for shoppers to learn “why add a mattress” without having to leave the page.

This is not a playbook adopted only by Eight Sleep.

Many high-growth brands have used the same growth loop.

Ridge Wallet

Merit Beauty

So if you’re early stage, you can still grow on a budget.

Make sure to have these growth loop fundamentals in place to get the most out of the spending you do have.

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