In the current tech slowdown, all startups are struggling to get enough money from VC, as mentioned in the article from Tech in Asia. According to the article, Indonesia will experience an 80% decrease in investment from the previous year in 2023, which is a significant drop considering that Indonesia has the largest market in Southeast Asia.
Because of the funding problem today, every startup is cutting their spending, especially on advertising because most startups are still spending money without making a profit, and reducing the budget has a downside—they might not be able to grow the user base as they promised to their investors, on the other hand pushing companies towards EBITDA positive becomes the northstar metric.
As a consultant working with some big startup companies, we’re dealing with the same issue. Our clients want us to spend less, but they don’t want any compromise on the revenue generated, no decline accepted.
This article presents a real study that is helping us support our clients in growing even with a lower advertising budget using growth marketing strategy and hopefully this will get you either better traffic acquisition, new user conversation, royalty and monetary hence we can face this difficult situation.
Growth Strategy Traffic Acquisition – Care your Meta Title, Description, Rich Snippet (SEO), Content
We see many big startup companies that may not view this as an important improvement for their product. It’s unclear whether they don’t have an SEO team or if they consider this enhancement to be of low importance. This enhancement not only brings in free traffic, but our research shows that SEO traffic has a better conversion rate compared to Google Ads. For instance, SEO has a 1% conversion rate, while Google Ads Search has a 0.6% rate. The numbers might vary by industry, but I personally prefer investing in technology resources once instead of paying a company that is already very rich from Silicon Valley, you know what I am saying right?.
Growth Strategy Higher Conversion Rate – Improve visibility of share, wishlist
This is something we often find on our web/app but never have any thought that share button is powerful to bring high quality users both on engagement and ROI since as we look into it more closely, the share button proves to be powerful. We discovered that the bounce rate is nearly 75% lower, even when compared to direct traffic, which typically brings the highest quality visitors.
If you’re still hiding your share button or it’s not visible enough for people to share, you’re missing out on a lot of opportunities.
The same thing applies to wishlists. If you can track these two situations well, you will be amazed at how powerful wishlists can be. Below is our A/B testing experiment:
- User opens your app, searches for your product, makes a purchase —> 2%
Previously clicked the wishlist button, opens your app, searches for your product, makes a purchase —> 3%
Growth Strategy Higher Conversion Rate – Improve Your Registration Page
This is something that many people haven’t considered which is improving the register page, while it’s an extremely important step before making a transaction.
Here are some simple ideas to enhance the registration rate. We can use the following messages and visuals on the registration page:
1.Emphasize how easy and quick the registration process is — seamless and fast.
2.Offer daily exclusive vouchers, maybe?
3.Enable single sign-on using Google.
There still a lot of experience that we are going to share on this blog so please check regularly as we keep update you with our next experiment.
