Spending way too much time browsing through mediocre business articles? I got you. Subscribe to get 1-5 curated SaaS, growth, and marketing resources directly to your inbox every Friday. I'm Head of Growth at an EdTech platform startup, freelance consultant for B2B SaaS businesses — and a serious learning junkie. See the full resource library at saasreads.com.
Hi friends,
Some personal news first. In a few weeks, I'm joining a EdTech platform startup called Kide Science as their Head of Growth. If you work in EdTech and/or are working with things like funnel optimization, monetization, and growth, I'd be happy to have a chat over a remote ☕️
Anyway. Here are some of my best reads from this week again:
Why your typical ad buying strategy is not sustainable?
An average FB ad strategy consists of picking targeting and updating every once in a while, testing ad & landing page performance, and some retargeting. However, there are multiple problems with this approach:
Enter a full-funnel approach
Suppose you target all awareness levels and indoctrinate your audience to the problem. In that case, you'll establish an engaged audience and build brand affinity & credibility before trying to get them to buy.
BELT stands for Belief, Engage, Lead & Transaction
B for Belief
E for Engage
L for Lead
T for Transaction
Every attribution model has built-in biases. While poor attribution is still better than no attribution at all, there are a few built-in issues that all marketers should understand. (Note: This post was written in 2014, but the point still holds.)
There's no lack of intent—there's lack of action. Our environment has a huge impact on driving our decisions, which is why understanding behavioral science will have huge power over increasing your conversion rates.
1. Increase the immediate benefit to taking any action: Forced choice and Present bias
The mobile app Steady helps gig workers track their income. To do this, it needs access to a user's bank account—but this bank-linkage step creates friction. It's a common drop-off moment for users: 92.9% give up during the process. They implemented two changes and managed to increase the linkage rate from 7.1% to 15.9%. How did they do it?
2. Make people feel like they already own it: The Endowment effect
Livongo is a diabetes management company that made one simple change to their onboarding process that drove a 120% increase in registration. How did they do it?
3. Lean into existing behavior, and then make it easier: Friction
EarnUp, a fintech app, wanted to help its users pay down debt faster (thereby saving them thousands in interest). How did they do it?
4. Get commitments on day one: Mental models
To help people get credit and keep it high, Duke University's Common Cents Lab partnered with Latino Community Credit Union to help support borrowers with their loan repayment. They tested a few different ways to build incentives into the program. In the winning condition, a whopping 36% of people agreed to round up their loan payment. How did they do it?
Instead of regular testimonials, consider using "reverse" testimonials on your website: "I was reluctant to buy product X because I thought [objection], but here's what I realized after using it [benefit]." Stating the obstacles/hesitations that were almost preventing others from buying helps you overcome people's objections. Read the LinkedIn post
That's it for this week. I'd love to know what was your favorite read this week!
Cheers, Anna
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P.p.s. Did you know you can now find all previous summaries here?
P.p.p.s. Connect with me on LinkedIn and Twitter! (Warning: I mainly post memes and rants about marketing, but if that's your jam, let's be friends. I'm also Head of Growth at an EdTech startup and a freelance consultant for B2B SaaS startups, but honestly, I'm more into shitposting than personal branding.)
Spending way too much time browsing through mediocre business articles? I got you. Subscribe to get 1-5 curated SaaS, growth, and marketing resources directly to your inbox every Friday. I'm Head of Growth at an EdTech platform startup, freelance consultant for B2B SaaS businesses — and a serious learning junkie. See the full resource library at saasreads.com.
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