Demand Curve - The Growth Newsletter #064
The Growth Newsletter #064
This week we're covering ecommerce navbars, Facebook creative testing, and pricing friction.
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1. How to decide what to put in your ecommerce navbar Insight from Demand Curve.
If you have an ecommerce site, best practice is to keep your menu (navbar) as simple as possible.
That’s not to say that every ecommerce brand should remove its informational pages—e.g., blog, About Us, FAQ—from their menu. For some, those links will help conversion, not hinder it.
A general rule of thumb for you to consider:
Examples: Allbirds has a page about sustainability in its navbar. That's a core value that many shoppers will connect with and support. Judy puts FAQs in its navbar, since the decision to buy a disaster prep kit brings a lot of questions with it. On the other hand, the navbars for Nomatic and Clevertify focus on their relatively straightforward products (backpacks and baby clothes).
This boils down to is a simple question to ask about any page: Will it help prospects convert or distract them from converting? 2. Facebook creative testing: generate more learnings, faster Insight from Thesis.
Good creative is the biggest driver of ad success in a post-iOS 14 world.
Your ads need to resonate with your audience. No amount of sophisticated targeting or optimization tweaks will save your campaigns—that's what makes creative testing so crucial.
Here’s a look at Thesis’ creative testing methodology. Consider using it to find learnings faster and protect your core campaigns from creative flops.
Step 1. Use a simplified account structure. Three campaigns, 3-4 ad sets per campaign, with 3-6 live ads in each. The campaigns:
Step 1a. Allocate ~20% of your budget to creative testing. Use your CPA target and this formula to calculate (approximate) starting daily spend:
Step 2. Set up a creative test. Use broad targeting—it's the most scalable (and often the cheapest). Each creative concept gets its own separate ad set containing up to six variants.
Only test elements of the ad unit itself (e.g., ad formats, new images or videos, thumbnails, copy, or CTAs). Here's an example of a net-new video test:
Step 3. Run creative tests for at least three days, then make a call. After about three days of running a new test, you'll typically run into one of the following scenarios:
Don’t turn off any ad set that's performing well during your creative tests. Keep it running in your testing campaign as long as results remain strong.
3. Align your model and product friction Insight from Demand Curve.
How much should you charge, and how should you charge (e.g., subscription, usage-based, flat rate)?
When establishing your business model and answering those questions, be sure to factor in friction.
Your product’s friction should align with your model’s friction. A low-friction product should have a low-friction business model. A high-friction product should typically have a higher-friction business model.
When product and model friction don’t align, there’s a risk that your product’s value won’t get realized, your unit economics (CAC and ARPU) won’t work, and growth potential will be stymied.
Because of the importance of aligning product and model friction, successful low-ARPU products tend to be low-friction (like social media apps), and successful high-ARPU products tend to be high-friction (like enterprise B2B SaaS).
From Demand Curve We've got two new pieces of content for you this week—a fresh playbook and a new article on the Demand Curve blog.
Tool recommendation: Fomo. Fomo increases conversions with live social proof notifications. It's the same psychology that was behind the last time you walked by that busy restaurant, got FOMO, and decided to go in. Fomo recreates this feeling by showing off product reviews, sales, subscriptions, traffic, and more to your website visitors. It's easy to set up, and DC members get 2 months off any paid plan here. Marketing news News that will make you a better marketer:
New marketing jobs
If you're looking for a top growth role, check out the opportunities below from our job board. . Want more growth tactics? We're giving away our entire back catalog of tactics to folks who refer two friends to this newsletter. Here's your referral link to share: https://sparklp.co/385a143f. You can track your referrals here. We'll automatically email you the password-protected tactics page once you've referred two people.
How can we help you level up? If you enjoyed this, please consider sharing with a friend. If a friend sent you this, get the next newsletter by signing up here.
Who's Demand Curve? We’re who marketers and founders rely on to solve real marketing problems. We skip trends and fluffy stories and only share high-quality, vetted, and actionable growth content from the top 1% of marketers.
How we can help you grow:
See you next week.
— Nick, Grace, Joyce, Dennis, and the DC team. Nick Costelloe Grace Parazzoli Joyce Chou Dennis Buckley
© 2022 Demand Curve, Inc. All rights reserved. 4460 Redwood Hwy, Suite 16-535, San Rafael, California, United States |
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The Growth Newsletter #063
Tuesday, April 12, 2022
Influencers, pricing, and cold emails. The Growth Newsletter #063 Welcome to the 300+ new marketers and founders who joined last week! Reminder: We'll be in your inbox weekly moving forward.
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Quick reminder that the offer to get 20% off the Growth Program ends tonight at 11:59 PT. Hey there, Very quick reminder that the offer to get 20% off the Growth Program ends tonight at 11:59 PT.
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