Growth Newsletter #044

Most SaaS apps lose 95% of new users within 90 days. A majority of these users drop off before they finish onboarding.

When customers fully onboard, they're more likely to stick around and pay for your product. One way to encourage them to complete onboarding? Give them a quick win.

Example: After logging in to Quora for the first time, a new user sees a checklist called “Set Up Your Account.” The first step, “Visit your feed,” is already checked. The user has accomplished something just by signing up.

People are more motivated to keep going if they think they’ve already accomplished something. Early in the onboarding process, keep motivation high with quick wins and reminders of what the ultimate big win will be.

• Keep the “job-to-be-done”—what users will get out of the onboarding process—front of mind. Airbnb’s host signup page shows you what your monthly earnings could be if you complete the steps to rent out your home.
• In your welcome email, don’t waste precious space on a “thanks for signing up.” Remind them of how your product will benefit them once they’re fully onboarded.

While they're often thought of as intrusive, popups convert 3% of site visitors, on average.

And strategic, high-performing popups can reach ~10% conversion.

To make higher-converting, less intrusive popups, try the 60% Rule:

• Open your website's analytics and see what the average time spent is on a specific page you'd like to use a popup on.
• Set your popup to appear after 60% of the average time spent on your specific page. So if the average time spent on a page is 50 seconds, set your popup to appear 30 seconds after visitors land on that page.

At that point, readers have shown interest in your content but are nearing the end of their session. Prompting them with a relevant and valuable incentive in exchange for their email will feel like a fair exchange.

Bonus: When designing your popups, ensure the copy, call-to-action, and incentive are directly relevant to the page the visitor is currently on. You can rephrase the headers that appear on the page as a hook in the popup.

Links from mainstream news outlets carry a ton of weight:

• They have high domain authority and improve your startup's keyword ranking in Google.
• They have some of the largest audiences on the internet and provide valuable brand awareness and referral traffic.

But most startups only focus on PR for things like fundraising and product launches. That'll only get you so far. To see a real growth lift from earned media strategies, consider intentionally creating content that’s optimized for pickup by news outlets.

Here's how you can do it. Make your content:

1. Relevant: Focus on your publisher's audience first. Re-frame your briefs and think about how to make your content broadly appealing so that your stories get picked up.
2. Objective: Publishers won't link to a story that’s obviously stuffed with keywords or product links. Create content that’s objective and authoritative—not salesly.
3. Timely: Weave in current events and cultural trends. Why would a journalist be motivated to link or reference the article today? Find a hook and use it when pitching.
4. Unique: What makes your story different? Use localization, first-party data, and engaging visualizations. The best way to stand out is to provide a unique, fresh angle that a journalist couldn’t access without referencing your story.

News publications are resource-constrained and looking for unique storytelling that will appeal to their readers. Make it easy for them by being a source of great, compelling content.

Common startup challenge: Your product solves a problem that people don't know they have yet.

For example, no one knew they needed an Uber–they thought they needed a taxi.

When planning your go-to-market strategy, choose a marketing channel that:

• Allows you to get in front of a lot of your target customers, quickly
• Allows you to get in front of your target customer, inexpensively

There are seven ways people learn about new products:

1. Word-of-mouth: through friends, family, and colleagues
2. While browsing online, organically: SEO article, social media recommendation
3. While browsing online and seeing a promotion: Facebook, Instagram, YouTube ad
4. Offline, organically: seeing a product on the shelf, someone using it
5. Offline and seeing a promotion: billboard, posters, samples
6. While at home, seeing a promotion: direct mail
7. Someone reaching out to you: direct sales

Go through all seven ways people learn about new products and list all the channels that are possible. For each channel, ask: How quickly and cheaply can I reach my target customers? How many are there?

This exercise will clarify which marketing channels will be most effective for your go-to-market strategy.