Step by Step Action Plan

We believe our goal is to amplify your company’s AARRR funnel while enabling an in house team to take it over from us in a limited period of time (6 to 12 months)

    1. Acquisition – New users from new and existing channels
    2. Activation – Getting these new users to make a purchase
    3. Retention – Getting existing users to make more purchases
    4. Revenue – Increasing revenue per user
    5. Referral – Making users refer their friends and families

We understand that it is a big task -> Our experience has helped us devise the following step by step plan (read next section) to help achieve such goals as soon as possible.

 

Step 1

First we would setup the right data infrastructure for your company, which involves

  1. Auditing the current system
  2. Proposing new taxonomy (if one is required -> it usually is)
    1. User properties
    2. Events
    3. Event attributes
  3. Sitting with Tech team and seeing through the execution
  4. Testing if the taxonomy has been well established and works well
  5. Setting up integration with Segment.com or direct integrations with an analytics platform (one which solves main pain points and is cheap)
    1. Mixpanel
    2. Amplitude
    3. Chartio

Step 2

We then make product metrics (some examples across the AARRR funnel shared below)

  1. Acquisition -> Sign ups across channels
  2. Activation -> 7 day, 14 day, 30 day activation rate
  3. Retention -> Week 2 retention, Month 2 retention
  4. Revenue -> ARPU, LTV
  5. Referrals -> No of referrers, avg referrals per referrer, referral velocity

There would be many more useful metrics that would need to be analysed for the business. These metrics would then go through different kinds of segmentation and finally lead to iterations in product that help in closing low hanging fruits.. How – please read below

Step 3

We segment metrics across various attributes (for instance consider Sign up)

  1. Sign ups across platform: web, iOS, Android
  2. Under a particular platform (Android), Sign ups across type of android devices (Samsung or Lenovo or ..)
  3. Sign ups by hour of day, Sign ups by day of week
  4. Sign ups via referrals, via organic pages, via Adwords, Facebook
  5. By City, by age, by gender etc

Step 4

While doing all this in Step 3, we usually get some very solid insights: eg

  1. We find that Sign ups (on Android) using Google Auth has bad conversion
  2. Data from segmentation by Device Type tells us that particularly those on Lenovo android phones have the worst numbers
  3. Why? Because there is a coding error
  4. So our action plan becomes to Fix sign up using google auth on lenovo android phones which leads to easy growth from low hanging fruits

Step 5

This process of segmenting data and finding low hanging fruits would always continue as the company makes new products or expands features and so it is imperative that we educate an in house team on how we do it ourselves, so they learn and can take it over from us. In order to ensure this, we keep monthly knowledge sessions with your company, team to help them take our knowledge and apply it to other use cases, and so slowly the in house team becomes less dependent on us

Step 6

Over a small period of time (usually less than 3 months) and after we have run out of options of low hanging fruits, we take each funnel of the AARRR framework and come up with a list of experiments which can improve specific funnel (and our experiments are based on expected outcome based on data and experience). For instance:

  1. If your company wants to increase Activation, we delve deeper into user onboarding
    1. Customer journeys (Sign up -> View product page -> Add to cart -> View checkout screen -> Make Payment -> Refer -> Repeat)
      1. Email drip campaigns
      2. In app notifications
      3. Push notifications
      4. Sms based on user behaviors
    2. Onboarding inside the product
      1. AB testing the first few screens a user sees
      2. Personalizing the product experience (eg open the flipkart app and analyse how it’s different from your friend’s flipkart app -> although most of it is AI but we must at least make decision trees which usually handle bulk of the use cases)
      3. Remarketing before a user becomes active
        1. eg if a user has signed up and still hasn’t added anything to their cart -> show them a discount code on youtube display ad or
        2. if a user has added to their cart but hasn’t made a purchase, then send them a “forget to make purchase” message
  2. If task is to increase Acquisition
    1. We see existing channels and how they can be better utilised (eg we might have an offline sales network which can help push offline sales)
    2. Find new channels
      1. Set up referrals
      2. Create campaigns on Adwords, Facebook
      3. Invest in SEO
      4. Utilize other media buying channels
      5. Or do BTL or ATL activities using offline marketing
      6. We then sit with the product team to decide a roadmap (to help accelerate certain features) and on how these fit with company’s goals
        1. Referrals -> Needs developers to setup rewards, screens, landing pages, reminder buttons along with emails, in app, sms etc that get triggered based on particular user attributes
        2. Adwords, Facebook -> Needs conversion pixels and making lists on Google Analytics, uploading users details on FB etc
    3. Similarly, if the company wants us to improve Retention or Revenue, we take up a different set of tasks and make priorities to ensure highest impact items are done first

 

All this mentioned above is continuous exercise, and one of the things we always discuss with clients, and want to make a priority is to make the in house team knowledgeable and independent of us within a period of 6 to 12 months!

 

 

Bitnami