Growth tips #008

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Get better leads by making your ideal customer clear

Source: Growth Bites

Click-through rates don't mean much if the clicks don't lead to conversions. Qualify leads with hyper-specific targeting in your marketing copy.

When it comes to leads, it's quality over quantity. And a super simple way to qualify leads is to state exactly who your target customer is (and isn't), right there in your marketing copy. For example, if your product is ideal for businesses with under ten employees, make that abundantly clear at a glance. Not only does this qualify your leads, but it will make your copy all the more persuasive to those target customers too. And that means higher-quality leads converting into more satisfied (and retained) customers. This applies to all your marketing copy, and it's particularly important in the pay-per-click world of ads.

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Most tests “fail”

Source: Demand Curve

Most business experiments—around 90%—result in so-called failure.

Example: an A/B test in which the status quo ends up being the winner.

But those results are just as important as “successes.” They support startup growth by providing insights into:

• Why the experiment variant “failed”

• What you can learn for your next experiments

• How risky your experiments are. Too many small wins may mean you're not focusing on the most high-leverage opportunities.

Instead of defining “failure” and “success” based on test results, here are the definitions we recommend.

Failure: the act of creating 1. an undisciplined test, like one with an untestable hypothesis 2. a test with low impact on your business, or 3. a test your team won't learn from

Success: the act of developing, launching, and learning from a rigorous test with the potential for high business impact

Basically, a sloppy test is a fail. An inconsequential test is a fail. A well-designed test is a win. And any test that gives you useful new information is a win.

So go ahead and “fail.” Encourage your team to do the same. Disproven hypotheses are part of a healthy growth culture.

Thank you for reading! ✌️

We look forward to sharing more with you next week. Stay tuned!

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