Welcome!

When you joined Growth Marketing Pros, we promised you one thing: Curated tips that (actually) help you grow. So here they are. 🚀

By the way, here's a link you can copy-paste to invite your colleagues to our Slack community:

Without further do, let's get started.

Accelerate your startup growth with our comprehensive launch program!

This edition is powered by Launch with AI

Launch with AI is a program designed to provide you with essential knowledge, tools, and guidance on how to plan, execute and optimize your product launches. The program is based on our extensive experience of working with 500+ startups.

Throughout the course you'll learn how to:

• Identify your target audience

• Validate your product's market fit

• Leverage generative AI tools for competitor research, copywriting and more

• Develop and execute launch strategy

Get an exclusive 50% discount. Just type gmp50 at checkout and start your launching journey today.

Increase conversions by using a value proposition in your call to action

Source: Growth Bites

Pete Codes of No CS Degree grew his job board to 1,040 subscribers in nine days. One tactic which helped him achieve this was surprisingly straightforward: "I had a nice simple email CTA in the header of my website... I didn't go for the boring 'subscribe' button but a 'get a job' CTA, which is obviously a lot more grabby." Make your CTAs more compelling by highlighting your value proposition to the user — what do they ultimately get out of clicking the button?

What's trending?

10 Essential metrics for E-commerce performance

_{Brought by Solveo}

So you still need convincing on why metrics and analytics matter? Read our previous blog.

After speaking about KPIs for startups, we’re now focusing on e-commerce and why it’s important to understand the key metrics that can help your online store succeed.

The process of collecting, analyzing, and applying website data from your online store is known as e-commerce analytics.

It makes you more insightful about your clients and competition, so you can decide how best to advance your company. To potentially increase sales, you can, for instance, improve your checkout experience, recognize and address problems, and improve your traffic channels.

And why does it matter?

• To understand your customers much better!

You may tailor your visitors’ experience by tracking their behavior throughout their journey with the use of e-commerce analytics.

• To improve customer experience and loyalty.

You may establish more gratifying experiences that foster trust and motivate repeat business by identifying areas for improvement.

• To increase productivity and cut costs.

Analytics show you which of your traffic sources are most productive, which helps you manage your budget and find cost-cutting opportunities.

Key metrics to track for E-commerce

1. Average Order Value (AOV)

What It Measures
Average Order Value (AOV) is the average amount customers spend per order on your e-commerce store.

Why It Matters in E-commerce
AOV boosts profit without needing new customers. By increasing the value of each order, you can enhance your overall revenue efficiently. This metric is key for shaping upselling strategies and maximizing ROI.

How to Calculate It
AOV is calculated by dividing your total revenue by the number of orders.

Formula: Total Revenue ÷ Total Orders
For example, if your total revenue is $4,000 from 160 orders, AOV = $25.

Pros

• Cost-effective way to increase revenue.

• Provides insights into customer spending habits.

• Helps optimize pricing, discounts, and marketing strategies.

• Contributes to understanding customer lifetime value (LTV).

Cons

• Outliers (high or low-value orders) can distort the data.

• A high AOV doesn’t always mean high profits, especially if profit margins are low.

Read more about the other key metrics for e-commerce 👇

Make users set goals

Source: Demand Curve

Want to get users to stick around for longer? Try getting them to set a goal.

The kicker: You don’t actually need to do anything with that goal.

The language-learning app Duolingo discovered this while experimenting with “streak goals.” When users first sign up for an account, they're prompted to select a learning streak goal of 3, 7, 14, or 30 days.

They can't dismiss this screen—they have to choose a goal. That means extra friction in the signup process—which normally worries us marketers.

But it works.

Duolingo found that making users set streak goals improved retention, even though the app never references that goal again.

Specifically:

• Users set higher goals than when the app showed a preselected streak goal.

• Users were more likely to stay after viewing this goal-setting screen.

• The added friction of setting a goal didn’t affect drop-off rates.

Users who pick a goal have made an internal commitment to themselves. That's a strong motivator. They'll feel bad if they don't achieve it and great when they do.

What companies should try testing out this tactic? This could be a good fit for businesses selling products related to self-improvement, like education, health, and fitness.

Thank you for reading! ✌️

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

Powered by Solveo