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Our open rate was great, at 37%, with a 7% clickthroughrate. But when we took a closer look, we discovered that, even if we scaled our email campaigns, the users who received our emails represented a measly 1% of our overall revenue. We launched our second campaign a week later, and the story got worse.
It’s why Canva can call itself a multibillion-dollar platform and how ConvertKit pulled itself up to compete with goliaths like MailChimp and Campaign Monitor. Where campaigns to build brand awareness and generate top-of-funnel sales drive traditional marketing, data across the entire customer lifecycle drives growth hacking in marketing.
Speed While developing organic visibility can take time, a PPC campaign can be created in days and ramped up in weeks. Want to test a new product? You can get rapid feedback on a new product launch (or minimumviableproduct) by running a short PPC ad campaign. Agile Speed provides agility.
It’s certainly the way that Dan positions it above, but it can easily be applied to bigger companies looking to test new product ideas, feature ideas, service ideas, etc. Dan’s process proposes something very interesting: that there’s something wrong with the current minimumviableproduct (MVP) concept.
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