How to Navigate the CRO Minefield for Explosive Growth!
Podcast: Chew on This - Digestable DTC ContentPublished On: Thu Apr 18 2024
Description: This episode of Chew on CRO delves into the intricacies of brand development, emphasizing the importance of understanding product-market fit at different stages. It highlights the significance of repeat purchase behavior as a crucial metric and the role of conversion rate in driving sales. The problem-agitate-solve approach is recommended for effective messaging. Consistency in messaging from ads to landing pages is crucial for conversions. Avoiding assumptions about brand pricing based on customer perceptions is advised. This episode also explains type one and type two error rates in data analysis and stresses the importance of considering the entire customer journey in testing metrics. 0:00 - Intro 1:27 - Understanding post-acquisition strategies based on brand stage. 3:00 - The stages of consumer behavior. 6:03 - Utilizing different platforms for marketing to super users. 7:04 - Analyzing the value proposition and sales pitch for effective scaling. 9:01 - Evaluating repeat purchase rates for long-term scalability. 11:06 - Problem-Agitate-Solve. 14:05 - Ensuring message congruency from ads to landing pages. 16:01 - Distinguishing between type I and type II errors. 21:31 - Understanding different mentalities of audiences. 22:03 - Repeat purchase rates and unit economics for long-term growth. 23:30 - The impact of perceived value of offers. 24:08 - Analyzing results based on different types of traffic. 25:10 - Knowing when to stop a test and reevaluate hypotheses. 26:03 - Deep segmentation and cohort analysis. 27:00 - Correlation vs. causation. 28:00 - Multivariate testing. 32:18 - Evaluating performance through average revenue per user. 35:55 - How LTV may be misleading. Follow us, subscribe to our newsletter, and to see our exclusive merch check out https://chewonthis.io/ Ron Shah - https://twitter.com/obviceo Ash Melwani - https://twitter.com/ashvinmelwani Chew On This - https://twitter.com/chewonthisdtc
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