Only by improving the conversion rate at each step can exponential growth occur, but can you really improve the conversion rate at each step? In your app, how many designs are there that reduce conversion rates? I used these techniques to help companies like Huadianshijian and Elvis Radio increase their advertising conversion rates by 30.1%-1750%. Do you want to try it? 1. How to become a large-scale enterprise? There are four stages that must be passed: Phase 1: Polish the product prototype and achieve great results with a small investment through cold start. Relying on this model, the traffic ceiling will soon be reached and scalability will not be achieved. Therefore, if the company has not yet raised funds, it should try to make a small investment for a big return. Once the company has raised funds, it will enter the second stage. The second stage: relying on large-scale investment to achieve rapid scale growth. This stage will rely on large-scale purchases of traffic to convert it into rapid scale growth. Although the ceiling is higher than the first stage, companies will also encounter new problems: the traffic of these traffic bodies will be quickly washed out, and "the demographic dividend determines all dividends." After a few rounds or one or two years, the user groups of these channels will basically be fully covered. Phase 3: MGM marketing growth (customer referral marketing growth method). After going from 0 to 1 and 1 to 10, we need to attract more users through fission. For example, by driving 10% to 20% of 10 million users to undergo fission conversion, and one old user attracting two or three new users, it is easy to form a snowball-like fission effect and reach people that cannot be reached by advertising. In this process, use material, honor and other means to stimulate user fission conversion. Stage 4: Open up new business lines and repeat the previous three steps. When its own traffic and high-quality channel traffic are dried up, if it wants to continue to grow, it is necessary to expand product categories, develop horizontally, better serve users, and increase the user's life cycle value. Take the “Spend some time” project I served from 2016 to 2017 as an example. It went through these four stages:
2. Three Ultimate Questions of Scaled Business First, how to make the product? Second, where is the traffic? Third, how to monetize? First is the product Marketing and products are in the relationship between 0 and 1. No matter how many 0s there are, it is useless without the preceding 1. Therefore, we must polish the product well. If the product itself is OK, I will divide the products into two types: traffic-generating products and profit products . We see that App products often run a type of advertisement that allows users to download directly by clicking on it. But the problem is: users are affected by many factors during the download process, such as the installation system, app store, and the size of the installation package. As long as there is a little obstacle, users will give up. Think back to how Pinduoduo’s advertisements are placed? 9.9 for a folding bike with free shipping - if you are a user with limited purchasing power, would you be tempted? Even though you find out that the folding bike is out of stock after downloading, if you look closely you will find that the advertisement leading to the download says in small print that it is a limited time and limited quantity sale, which means they are not deceiving you. But when you open Pinduoduo, so many low-priced products will attract you to browse and pay attention to other products, so we need to create strong motivations for users, which requires breaking down the entire process from user understanding to purchase. In 2014, I worked for a leading quality education company in China. Our main business was children's Go training, and our users were children aged 4-6. Offline enrollment means doing marketing near kindergartens or other places where children appear. Generally, for every 20 parents passing by, 1 is interested, and the conversion rate is 5%. Through the introduction of marketing staff, some parents will leave their phone numbers to make appointments for trial classes, but they may not necessarily attend the classes in person. The attendance rate is only 1/3, and the trial class conversion rate is also around 50%. The final conversion rate of the entire link is only 0.27%. I built an online marketing team, focusing on search channels. The conversion rate of people who saw the page and were willing to consult online, call or fill out forms was 33%. Through the optimization of the sales pitch, the appointment rate was increased from 33% to 74%, and the attendance rate was increased from 33% to 80% through the optimization of the process. When it came to the trial class, the core factor affecting the conversion rate was the level of the trial class teacher, which was still around 50%. However, due to the optimization of the first three steps, the conversion rate of the entire online link was 9.76%. Therefore, only by improving the conversion rate of each step can the final result show exponential growth, but do you really optimize the conversion rate of each step? Taking the registration of an App as an example, from filling in the mobile phone number, obtaining the verification code, issuing the verification code, filling in the verification code to successful registration, the longer the chain, the lower the conversion rate. We need to design the shortest path. For example, when a user fills in his/her mobile phone number, the product will automatically determine that as long as the 11-digit number is not a wrong number or a fake number, it will be automatically sent. The registration process will be reduced from 4 steps to 3 steps (PS: be careful to prevent malicious sending of SMS verification codes). The second is traffic The order in which users purchase is divided into two steps: why to buy and which one to choose. This corresponds to several major traffic bodies in China, such as Toutiao, Baidu Information Flow, and Guangdiantong for information flow; and Tmall, Taobao, JD.com, Amazon, etc. for e-commerce. In 2018, Tmall’s Double Eleven transaction volume exceeded 200 billion, but this is not the point. The point is that transactions between thousands of people exceeded searches. This requires you to use data to create user demand, which cannot be achieved without data analysis. Today, time is limited, so I won’t explain the three major types of traffic one by one. Let’s take search traffic as an example: SEM, SEO, and ASO correspond to bidding, search optimization, and app store optimization. Search users have two characteristics: they don’t know where the product is and there is no one around to recommend it. These two points determine that users are novices in this field, and the search conversion technique is very simple: convert on the spot through activities. The vast majority of people buy things from this store instead of that one because of: high sales volume, brand, good reviews, recommendations from friends, and frequent purchases from this store. These are all ways to build user trust. So, are these key points exposed on your product page? The third is monetization There are three stages for users to place an order: arouse interest, build trust, and place an order immediately. Why do users not buy something they like? How can we turn this into demand if we don’t have the purchasing power and are not in a hurry? This is what operations and marketing do. We have Chen Yong's six factors to control to improve conversion rate.
Next, I will talk about commitment and consistency, the most difficult of Chen Yong’s six elements. For example, here are some advertisements for a weight loss product: Suppose a certain weight loss product can reduce a 160-pound person's weight to 130 pounds in 60 days. If you are the marketing person of this company, what would you do? Assumptions: This weight loss method was researched by scientists from many countries, passed the inspection of the China Food and Drug Administration, and was also tested on animals, with no side effects. Let’s look at how much people trust several different types of ads:
The final result is also a short video that plays quickly. In the video, this person rarely exercises and eats a lot. However, he finally loses weight after taking the medicine prescribed by the doctor. Why don’t people believe in Ad 5? What is going on in your brain while watching this ad? We believe in science on the surface, but deep down we believe in intuition more because our innate brain has more say than the rational brain that has evolved later in life. The advertisements say that you can lose weight without exercising and just eat whatever you want. Your brain immediately says this is a lie, because your intuition is that to lose weight you need to control your mouth and move your legs. The innate brain has more say than the acquired evolved brain. How to achieve consistency in commitment? It's very simple - the above makes a promise, and the following makes it happen in a way that is accepted by common sense. The safeguards for fulfilling this promise must be reasonable and then add success stories. The success stories are placed at the end because if you put them in the front, others will think you might be fake. This is particularly important. Reciprocity is to stimulate user interest; consistent commitments allow users to have a slight level of trust; authority conveys trust; and social identity promotes herd mentality. For example, why do we need to include specific numbers in advertisements? Because specific numbers are more realistic. For many pages, even changing the button color will change the conversion rate; preferences will keep users away from pain; scarcity will make them place an order immediately. Application examples: How to use Chen Yong's six elements? Here is an example that everyone can use. The welcome message of a public account has three steps:
Take my own WeChat public account as an example:
To sum up, how to disassemble the product, whether the traffic is accurate enough, how to continuously optimize, see data changes through Umeng+ or other tools, and keenly discover which points can be optimized. The last three points can be achieved as a large-scale business with super high ROI. At the end, I would like to share with you some insights: Life is like a conversion rate, it is a process of continuous optimization. It depends on the frequency and amplitude of your optimization. The faster your frequency and the higher the improvement each time, the faster your life will grow. However, because it is optimized only once every one or two years, the frequency is very slow and the amplitude is very low, so personal growth is slow. Source: |
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