A complete set of low-cost customer acquisition methodology

If a business is not growing, it is declining. Growth is always a key goal for a business and product. Today's theoretical framework will help you achieve rapid growth in user volume at low cost.

“Ahaha Moments” represent the “climax moments” for users. First of all, you need to clarify the core value of your product, which can hit the user's pleasure or pain points. For example, the “aha moment” in the early days of WeChat was the ability to send unlimited messages to others at a low cost. The cool thing about Airbnb is that users can find high-quality homestays on the app. Finding the needs and preferences that meet your customers and identifying key user behavior data can help you avoid early signs of declining user activity.

In the early stages of your product, you need to build a data warehouse to track the entire process of user registration to churn. Operations cannot rely solely on feelings, you must learn to speak with data. You can use data to find some hidden growth points, understand users’ behavior paths, and infer the product’s “aha moment.”

I have used these two theories to find the key growth points of products and drive the iteration of product functions.

Scenario (S) : I once found that the user churn rate was particularly high. When advertising was placed on the channel, a large number of new users came in. However, through the backend data analysis, our seven-day churn rate was as high as more than 80%;

Task (T) : How to reduce the churn rate and increase the next-day/seven-day retention of registered users has become my key task;

Behavior (A) : In this case, I set up data collection for new users who came in through the campaign and monitored all their behaviors in the product from registration to churn. I found that most of the users who stayed had one thing in common: they had been to our new user lobby and had submitted or checked their needs.

Result (R) : So I fed this phenomenon back to the product and put this new user lobby into the key path after the user settles in, as a core process for activating the product. All new makers must choose three positions or needs of their own in the Newcomer Hall.

I suggest that you use the STAR method to describe a task like me. This method is also suitable for you during interviews.

The North Star Metric, also known as the Key Metric, is the behavior most directly related to the user’s experience of the core value of the product. Usually a growth formula can be derived from the Key Metric. What would you do if you noticed a drop in user activity? Here we need to talk about an important way of thinking: formulaic thinking. Formulaic thinking is to break down key indicators to deduce the reasons that affect your user changes.

Level 1 split: Active users = today’s new users + next day’s retained users + today’s returning users

Second level decomposition: Today's new users = new user UV * new user conversion rate

Three-level split: New user UV = A channel + B channel

Multi-level splitting: ...

Through formulaic thinking, find out the key factors that affect your indicators.

Growth testing is an iterative process. Large companies should follow the principle of small-scale and frequent experiments, while small companies should aim for high impact . Changing the color of a button or some text is not strictly considered growth testing because the impact of such changes is small. To improve the effectiveness of the test, you can divide the groups reasonably, divide customers or users into different groups according to a common feature, and conduct experiments with a small range and great impact.

Detailed test process above:

➀ Analyze data and gather insights

➁ Forming experimental ideas

➂ Prioritize experiments

➃ Run the experiment

➄ Analysis phase: review the experimental results

➅ Take the next step

Generally, you should test once a week as a fixed rhythm until you successfully build your growth model.

Growth is the long-term work of operations. Do you still remember what the core of operations work is? Use efficient means to promote product and business growth. Archimedes said, give me a lever and I can move the earth. Operations must be good at finding support points and using efficient means to complete mission objectives. Regardless of whether your product is in the introduction stage, growth stage, maturity stage, dormancy stage or decline stage, you must know how to use data to guide users to gain satisfaction from the product.

Author: Operation has no circle

Source: Operation has no circle (ID: yunyingmyq)

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