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Growth Hack #1 – Free Stuff Sells 82% More Than a Good Deal:
Everyone wants a good deal. But, when deciding to give your customers an offer that’s either a discount/bundle or includes free items, the choice is clear. This A/B test proved what the people want –and increased sales by 82%.
1. A package deal of a cupcake and 2 cookies for $10.
2. A cupcake for $10 + 2 cookies for free.
For the same cost, this study showed that people buy option #2 at a 82% higher rate than #1.
Source: www.scu.edu
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Growth Hack # 2 – Smooth the Transition from Trial to Paid:
Asking your users to pay after their trial expires is a hard stop to the user’s experience. Try to do it in a softer way.
Give them an option after their trial period has expired:
1. Select your paid plan
OR
2. Request a 5 day extension (ask them for their credit card information, but let them know they won’t be charged yet).
Trial extensions converted to paid customers at a rate of 66%.
Source: http://appcues.com/blog/
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Growth Hack #3 – Turn a Feedback Tool On Your Competition:
The company User Testing offers a chance for real people test your website or product, then get feedback on what they liked and didn’t like. Its the focus group for the 21st century.
But why stop there?
Use usertesting.com on your RIVALS. Find out what they’re doing right and wrong, get inspired, and find opportunities.
Source: 500 Startups
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