When Warren Buffett coined the term “economic moat”, he stated that the products that have wide, sustainable moats around them, are the ones that deliver rewards to investors.
That’s why determining the competitive advantage of any company is key to investing, to which moats were initially tethered: a bigger moat makes a stock a better bet.
But the implications are broader, for companies large and small. An effective moat doesn’t require Amazon’s distribution network or Microsoft’s monopolistic software strategy.
In the big picture, “conversion optimization” boils down to getting more of the right people clicking on the things you want them to click.
Sean Ellis coined the term “growth hacking” over a decade ago in 2010. Since then, the term has taken on a life of its own.
“Growth hacking” is the focus of dozens of books, new roles, new departments and teams, new methods of thinking, hundreds of articles, hundreds of guides, hundreds of webinars… you get the idea.
Yet, it still feels very elusive. High-growth companies simply have something most companies don’t, right?
Wrong. The truth is, they simply had a solid growth marketing process.
When you first start doing conversion optimization, you think that the biggest hurdles are technical things: running an a/b test the right way, collecting data correctly, QA’ing tests.
These things are all important, of course. But the solutions are fairly straightforward, and when you reach a certain level of experience and skill, they tend to be a given.
No, the biggest obstacle to a testing program – even a mature program – tends to be human error and cognitive bias.
You know that feeling in the pit of your stomach when you get a calendar invite for an all-hands meeting—with no warning or context? I got one of those in 2018, mere months after I started at data.world as their first growth marketing and demand generation hire.
For a web analytics analyst or a data-driven marketer, these are words to live by: “Without data, you’re just another person with an opinion.”
Optimization isn’t about educated guesses and hunches, no matter how many years you’ve been in the industry. It’s about doing the research, asking the right questions, digging for clues in problem areas, paying attention to the signs when they appear, and running smart A/B tests.
Web analytics analysis is a big part of that. It helps separate the optimizers from just another person with an opinion.
Expecting a laundry list of skills or tactics? Don’t.
“Tactics are a dime a dozen,” says GrowthTribe’s David Arnoux, “and what works for me won’t work for you. In the end, it’s all about having a growth engine and running as many (quality) experiments as possible.”
We asked Arnoux and other growth experts what actually works, what matters most, and why so many fall short.
Four things came up over and over again.
If you’re an active podcast listener, you likely use popular podcast platforms (i.e. “podcatchers”) like iTunes, Soundcloud, and Google Podcasts to download or stream one of more than 1 million podcasts available today.
This article is a podcast roadmap to get you from passive listener to active host. I’m sharing my learnings as a five-year podcast co-host and agency owner who has helped develop podcast strategies for clients.
“Rare is the business that has a formal disaster plan, let alone one that covers a global Black Swan event.”
Tim Stewart, trsdigital
An article on growth and marketing in the middle of a crisis—the current one or any other—can seem tone deaf. But nothing gets better if we stand still.
No hiring process in the world is designed to hire the best and brightest.