The Process of Growth as a Business Function (Review)

Research + the scientific method + data analysis = optimization

Week 3 of CXL Institute’s Growth Marketing Minidegree covered running growth experiments, conversion research, A/B testing, and statistics. This week’s summary introduces the first layer of growth jargon and processes. We’ve arrived at the (even more) fun stuff.

The growth function

An e-commerce example could look like: home page, “about” page, product page, filtered search, add to cart, check out page, shipping page, order confirmation page. At each of these stages, visitors will either fall off or funnel into the next page. The major, although simplified, goal of growth is to increase the number of users who funnel all the way down the buyer journey (conversions).

The growth process

  1. Research
  2. Rank issues in order of priority
  3. Determine which issues need AB tests
  4. Outline and prioritize a testing program
  5. Set a hypothesis
  6. Execute the test
  7. Analyze the results
  8. Implement and learn
  9. Repeat the cycle

Growth pre-requisites

1. Research

Heuristic analysis: An experience-based assessment for problem solving, learning, and discovery. Heuristic analysis involves going through your company’s website in a structured manner to notice and document the clarity, friction, anxiety, and distraction of each page.

https://www.widerfunnel.com/blog/the-six-landing-page-conversion-rate-factors

Technical analysis: Does the site perform well on all devices, browsers, browser versions, and operating systems? How fast does the website load?

Web analytics analysis. A deep-dive into Google Analytics and any other supporting web analytics tools. Are your analytics configured properly? Who’s dropping off and where?

Mouse tracking: Heat-maps, session replays, and engagement depth per page. Where do people look? Where do they lose interest and click away?

Qualitative surveys: Why did your recent customers buy? What is someone thinking when on a page? Why do website visitors not buy? Surveys help identify undiscovered sources of friction by simply asking. Other supporting qualitative data can include phone interviews, live chat transcripts, and customer support insights.

User testing: Gather people who understand the product but have never seen your website before. Can they complete specific tasks on the site? How do they go about the customer journey start to finish? Watching can uncover bottlenecks and reveal how people who don’t spend all day looking at your website navigate around.

2. Rank issues in order of priority

3. Determine which issues need A/B tests

Only one type of issue needs tests: when the research indicates a problem, but the best solution isn’t clear. Non-test issues include:

  • Instrumentation: not measuring the data that needs to be measured
  • Incorrect data
  • Investigation: need more research to determine the true problem
  • Just-do-it: no brainer fixes (straight-forward usability issues such as broken buttons)

4. Outline and prioritize a testing program

5. Set a hypothesis

If I apply this, then, this behavioral change will happen, (among this group) because of this reason.

6. Execute the test

7. Analyze the results

8. Implement and learn

9. Repeat the cycle

  • Test (or make) more effective changes (AKA: test things that matter and make an impact)
  • Reduce the cost of optimization
  • Improve the speed of experimentation

Week 3 experience

A parting suggestion

P.S. :)

Recent undergrad business graduate with a passion for personal growth, professional development, and tech marketing.