I went to high school with Neil Patel. Coincidentally, we both sold burnt cds and worked our firstjobs picking up trash at Knott's Berry Farm. We didn't see each other for over a decade, but in the early days, a lot of what I learned about marketing was through reading content Neil wrote.
Neil is a serial entrepreneur and founder of Crazy Egg, Kissmetrics, Quicksprout and Hello Bar. He recently spoke at the Growth Marketing Conference in San Francisco. In his presentation, he went over some unique concepts to optimize your company for growth.
These are the 7 tactics he used to drive product adoption and growth:
1. Flip around your funnel
A lot of SaaS funnels work like this:
You see an ad. You click on it. You're sent to a landing page. The landing page asks you to enter your name and your email address. Then you're given access to trial a product, or you're invited to participate in an event that will tell you why you need to get the product.
In this process, it's as if you're trying to ask someone to marry you before you even get to know them.
Neil suggests that you flip your funnel around. If you have a SaaS company, when someone visits your website, you let them try your product first. With Quicksprout, the first thing you enter is your website. After you enter your website, it asks for you to connect your social profiles, then provides you with an in-depth analysis of what you could do to improve your website. Then it tells you how you can fix the things on your own, or use Quicksprout's tools to optimize the process.
By giving away something first, it's as if you're asking someone on a date first before asking them to marry you. By flipping the funnel around, Quicksprout's signup ratios increased by 52 percent.
2. Make signing up easy
With Neil's company Kissmetrics, he used to ask people to sign up for his platform by entering their name and password. This made the signup process difficult and many people decided to opt out.
Neil figured out how to optimize the process. He integrated with signing up through Google, Facebook, Twitter or LinkedIn instead. This increased signups by 59.2 percent.
By changing the words 'Sign Up' to 'Login', conversions increased another 22 percent.
These two simple changes nearly doubled Kissmetric's signup ratios.
3. Leverage Instagram
People love Instagram. The problem with Instagram is a lot of people don't have a lot of followers on the platform. The good thing is that there's higher engagement than Facebook.
People post pictures all day and everyone's trying to be Instafamous because they don't want to work anymore. For Influencers, Facebook's new ad platform is going to significantly impact their income, since advertisers can just buy the rights to an image and target an influencer's followers.
But you can still use it to make money. One of Neil's friends is a stock trader. He made millions off Instagram. He did this by paying people a few hundred dollars to post one of his pictures (with him surrounded by money) and asked the influencer to change the URL in their bio for six hours, with a call to action stating that the link was in the bio. This sent people to a landing page that teaches people about the corrupt stock market of penny stocks. In his program, he teaches people how to spot fake stocks and short them. Another one of his friends tells people who workout to buy supplements.
4. Use other people's platforms
Shopify has 30,000 customers. Salesforce has 100,000. Evernote has 30 million users. Dropbox has 50 million users.
Neil feels that if you have a product that is relevant to other markets, then optimize and integrate your product with theirs. Fotolia is a stock photo site owned by Adobe. They integrate with Dropbox. Because of their integration, they are able to experience growth by using Dropbox's audience.
If you have an application that could integrate well with another platform, interview potential customers and find out what they need, then run targeted Facebook or Google ads to drive traffic.
5. Have a tripwire
Have you ever seen an irresistible offer that is hard to say no to? That is what a tripwire is.
Orabrush ran a social media giveaway campaign. In majority of cases, bad breath is caused by the tongue. Orabrush showed people how their brushes would cure bad breath. Then on top of that, they offered people a free brush if you liked their post on social. All you had to do was pay for shipping.
Upon checkout, the user would be offered upsells, such as a liquid gel starter kit and gel pack. A lot of people ended up buying these. Then as users started receiving their brushes, they started sharing how the product worked for them and putting up videos of their own testimonials. By having a tripwire, people are more inclined to spend twice as much as they originally intended, because they will spend more money later after swiping a small amount of cash first.
Neil runs a webinar on his website, NeilPatel.com. They sell really well. He showcases his 3-step process to building 4 multi-million dollar businesses.
For Neil, this generates about $10,000 a day in revenue. For every 100 emails he gets, he earns about $3,600 in sign ups.
Clickfunnels does about $1 million a month in revenue and their only method of sales is the webinar.
By providing 30-50 minutes of free education and a time-sensitive call to action with a discount,
Teach they can get more if they buy product. Generates $10k a day.
$3600 in sign ups from 100 emails.
Clickfunnels does $1mm a month only from webinars.
Neil gets a lot of inbound traffic. After people are on his list for about 30-45 days, he'll send an email out to his list asking his visitors and customers for a favor.
In that email, he talks about how it would feel to get a million views a month on your business. Then he talks about how he built a seven figure business while still being in school.
He doesn't ask people for money in this email though. Instead, he asks if people will review his webinar, where he goes over all the tips he learned his entire career, and post it onto Youtube or their blog.
If someone says they want the webinar anyway and don't want to write the review, he sends it to them anyway. Most of the time, they are blown away and do the review anyway. Plus, most of these people are so excited to get something that's as in-depth as Neil's webinar for free, that they are happy to repay the favor.
These are the seven best growth strategies in Neil Patel's deck. Do you know of any others? I'd love to hear about them! Comment below.