22 October 2023 |

Growth levers to pull

By Ari Murray

^ I’m watching Harry Potter as I write to you, dear millionaire…

Anywho, this Hufflepuff has been thinking a lot about GROWTH LEVERS TO PULL. 

Levers to pull when things are going RIGHT. Sadly (or happily, depends on the day lol), there’s always more to be done. With that, here are strategies / areas to pay attention to when you need or just WANT extra momentum. 

SUBSCRIPTION PRESENTS 🪄

If we’re selling a product that has a subscription option, and if we see churn is most at risk between the 3rd and 4th order for example, then on the 3rd order we’d include a surprise gift that is of value (MAKE IT NICE) – in their package.

💝 📦 📫 🧙‍♀️ 🌹 💝 📦 📫 🧙‍♀️ 🌹 💝 📦 📫 🧙‍♀️ 🌹 

We’d call it out and say it is a thank you for their loyalty, with a handwritten note, and we’ll let them know that many more surprises are headed their way with future orders – because it’s the LEAST we can do.

IT’S SO MUCH LESS EXPENSIVE TO OVERDO IT FOR YOUR EXISTING CUSTOMERS THAN TO HAVE TO GO REPLACE THEM BY ACQUIRING NET NEW STRANGERS. 

Plus, if you make the present good enough, word of mouth goes crazy. 😇 As does social media!

P.S. It’s important to CALL the present out (that’s where the note comes in – otherwise your customer will think your warehouse accidentally included something).

DELAYED POPUP ON SITE

What about adding a delayed email capture popup on site that gives your customers free shipping on their first order, but only once they’ve browsed?? I’m talking like 15 seconds in. LET THEM HAVE THE CHANCE TO WANT SOMETHING BEFORE WE HAVE THEM DECIDE TO FORK THEIR INFO OVER. 

🫐 ⛳️ 🦦 🛒 💘 🫐 ⛳️ 🦦 🛒 💘 🫐 ⛳️ 🦦 🛒 💘

Or a popup that intercepts them right when they’re about to exit that offers them the same offer you would have shown them instantly?

Sometimes we forget that if you popup before someone has seen anything on site, it’s jarring. 

FOUNDER WHITELISTING ADS

If you’re running paid on Meta, have you had your founder create UGC that is then whitelisted from their handle? 

🕯 🤎 🕯 🤎 🕯 🤎 🕯 🤎 🕯 🤎 🕯 🤎 🕯 🤎 🕯 

Or, have you run your evergreen ad creatives from your brand’s handle and from your founder’s handle at the same time to see if your customer prefers to buy from a person (your founder) vs. from your brand account? 

1ST ORDER ONE-TIME ONLY

On the 1st order, as a rule, we have to fight the urge to be greedy.

🥲 😵‍💫 🥲 😵‍💫 🥲 😵‍💫 🥲 😵‍💫 🥲 😵‍💫 🥲 😵‍💫 🥲 😵‍💫 🥲 

Sure the brand prefers to get the net-new customer to subscribe right away because then they will get the customer to come back, and then the customer will be more profitable.

Right? No, not really.

If you haven’t yet run this test, see if your CAC is lower if you run net-new, paid traffic to a one-time purchase landing page that has a section on subscription but that doesn’t push it. Push the product! Push them to trust you enough to buy it. Then get them to subscribe once they have taken the risk and bought something they’ve never tried.

I don’t subscribe to things I’ve never tried, for example. 

Then watch this cohort and see if you can get them to subscribe and if they are actually stickier than the customer that came in on paid, took your subscription offer, and then cancelled after the 1st order. 

TEST THIS AND SEE! 

UPSELLING THE BIGGEST SIZE

We’ve been A/B testing our cart upsells and we’ve seen TIME AND TIME AGAIN that if you upsell a bigger size of the same item that they’ve already chosen, vs. trying to push entirely different products – you win. 

😈 😈 😈 😈 😈 😈 😈 😈 😈 😈 😈 😈 😈 😈 😈

Try?

FREE GIFT WRAPPING / GIFT NOTE

In the spirit of Q4, create a holiday shop or gift guide for your site and for the products you’ve chosen for said shop or said guide, offer free gift packaging and a free note.

🧸 🧸 🧸 🧸 🧸 🧸 🧸 🧸 🧸 🧸 🧸 🧸 🧸 🧸 🧸

This makes a gift guide come to life when they need to give said gift. 

When I’m looking for what gifts to gift people, I look for things that are wrapped. I also prefer to not have to source my own card, I’m lazy! 

DIGITAL GIFT CARD PRICE ANCHORING

Kindly take a look at the variants of digital gift cards you sell. 

🎀 🖼 📓 🟥 📣 🐳 🥀 ☔️ 🍇 🍰 🍸🎀  🖼 🎀 🖼

If you sell a $25, a $50, and a $100 gift card – try this instead (ADD THESE DENOMINATIONS):

$25, $50, $100, $150, $250 – THE $50 DOESN’T FEEL SO OBVIOUS NOW DOES IT? 

Adding a few more options here takes 0 dev work and should help big time. 

‘Tis the season for gift cards! Make them count.

PRESENT WITH 1ST 100 ORDERS

The next time you launch something, even if it’s a 1 day sale, incentivize your 1st customers. Reward the customers that are QUICK. When your launch feels URGENT, people add more to cart in the frenzy. 

🎂 💙 💘 🎂 💙 💘 🎂 💙 💘 🎂 💙 💘 🎂 💙 💘

“Tomorrow at 9am we launch X. The 1st 100 orders placed for X will get Y – as a thank you from us! Set your alarms, Y is special edition and won’t be sold on site.” 

THE 1 HOUR SALE

I just love this – my fav trick. 

🕯 🕯 🕯 🕯 🕯 🕯 🕯 🕯 🕯 🕯 🕯 🕯 🕯 🕯 🕯

On organic social, have your social team post stories like usual. Then, out of nowhere, make a story that says: “Hi, I’m Sam – I run social for X. Don’t tell anyone, but it’s my half-birthday and I feel like giving you a present. Use code SAM in the next hour and get all denim for $20 off. It expires at 11:05 ET. RUN! xoxo” 

When you have the social person act like the sale is their idea – it feels cuter. When you make it 1 hour, you teach your customers to pay attention to your organic social.