how I helped a startup (with 100k users) double conversion rates while increasing the monthly revenue and user growth by 30% — Srinu Chowhan
Sharing a story of how I helped a startup (with 100k users) double conversion rates while increasing the monthly revenue and user growth by 30%
How did we make it happen? Here’s a sneak peek:
1. North star metric (NSM): Redefined the NSM, ensuring a complete buy-in from the team. We dissected it into funnels, clear down to each individual.
2. User interviews: Created multiple segments and spoke to about 30 customers until I started seeing patterns. Some days I did 6 user interviews.
3. One metric that matters (OMTM): Zeroed in on the metric that delivered the “aha” moment.
4. Growth process: Rolled out a easy testing framework that documents hypothesis, experiment success/fail metrics etc.
5. Funnel teardown : With fresh user insights, we broken down each funnel step to fast-track the “aha” moment, cutting down the time to “aha” moment by a whopping 90%.
6. Growth experiment ideas: Created a pool of ideas focused on each step of the funnel and picked the one with highest impact on NSM.
7. Targeted user acquisition: While tweaking the funnel, we amplified acquisition by zeroing in on a highly targeted user base.
8. Fail fast and test faster: Embraced a fail-fast, test-rapidly mantra. A learning curve, but an invaluable one.
Having done Reforge and Growth Tribe growth programs, I realize that culture of continuous experimentation and user-centricity is key. It’s about blending data with intuition, letting real user conversations steer the course.
Source: Srinu Chowhan
