From $0 to $200MM in 2 Years: How a Fast-Growing D2C Brand Used CRO to Scale the Business
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As a multidisciplinary field, CRO represents a set of multiple capabilities that can apply to many different areas of a company. In this webinar, Lucas will share how CRO skills can help a company grow by applying typical processes. He will also share the analysis of different business contexts in a growth environment. Lucas will connect CRO with all major company objectives in different ways: - Importance of quali-quanti analysis for hiring new tools, -The hypothesis test cycle and its importance in project management, -A/B test as part of strategic initiatives vs isolated tests, and the maturation CRO as your company grows. Lucas Kenji is a CRO expert currently working with the Trafilea Group where he manages the CRO program for Shapermint and Truekind.
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From $0 to $200MM in 2 Years: How a Fast-Growing D2C Brand Used CRO to Scale the Business
- 1. Lucas Kenji CRO in a Growing Business Start
- 2. 1. 2. 3. 4. 5. About Trafilea The CRO mindset in a growing business Strategic VS Isolated Tests From 0 to $200M: beyond regular AB Test CRO maturity in a growing business A g e n d a
- 4. WE ARE TRAFILEA WE ARE TRAFILEA AboutTra lea Trafilea is a DTC brand considered one of the fastest growing e-commerces in the US by the Financial Times. Our brands:
- 5. A GLOBAL MINDSET CRO process is not new. Companies can apply the macro concepts in any context.
- 9. EVOLUTION Color selection in the cart was mostly black (96% of all purchases). User research + A/B test: "I was confused with what was the offer and I didn't see the product I added" "I didn't notice a special offer" Some users purchased the offer. If we can apply minor improvements we may have more orders at cart and recover the small drop. Re-design the element communicating the product name and highlighting the CTA.
- 10. EVOLUTION Remove color selector. Add product title. Make action and CTA more clear. Improve copy giving price offer the proper highlight.
- 11. EVOLUTION Offer a product with a better contribution margin. Implement Test different offers for different product. Scale Solutions to automitize the process of recommendation. Master Develop our own recommendation system.
- 12. STRATEGIC TESTING Go beyond lading pages improvement. Connect your CRO efforts with your business needs.
- 13. ScalingSubscriptionProgram Business Goal: increase profitability by getting more paid subscriptions. Scenario: as CAC increases, rely on loyal customers becomes more important. Shapermint has it's own Subscription program to generate recurrent revenue. CRO Process: understand best on-site communication to get subscriptions. Solution: series of AB tests to find the best balance in short and long-term profit.
- 14. ScalingSubscriptionProgram Communication page: home, PDP, Chekcout Communication position: top, bottom, inside element, etc. Communication angle: different benefits, copy, etc.
- 15. IsolatedVS Strategic CRO brings more value when it focus on optimize what matters, in an organized way. WHAT ISOLATED TESTS STRATEGIC Essence Reactive Proactive Objectives Local Optimization Company Level Impact Responsible Specific Silo/Team Cross-company Analysis Only focused on results Focused on Why's Planning No testing process Established process
- 16. WhyStrategicTestingisdi erent? It's different than isolated tests, not connected to main target goals, and based on assumptions about the users. In-depthuserunderstand DELIGHT: Build a structure that users will value. Testshaveaprocess ORGANIZE: build a structure that won't need manager's constant supervision. Iteratesonfailedtests LEARN: Build a structure that the team will value. AlignwithCompanyOKRs CONVINCE: Build a structure that stakeholders will value.
- 17. BEYOND A/B TEST Apply CRO (and test) to different business context.
- 18. Objective KeyResult Increase profit generated with the leads strategy by 5%. Generate qualified leads and strenght a lead strategy (more profitable).
- 19. BuildingtheLeadsMachine Business Goal: lower the cost per lead acquired on shapermint.com and truekind.com Scenario: our e-commerce was using an expensive tool to collect leads. Leads acquired rate was great, but the cost was quite high. +INFO CRO Process: map alternatives to collect leads based on quali/quanti analysis + test. Solution: development of Leads strategies using external tools + internal data.
- 21. StartingScalingCROInitiatives Our path to increase CRO maturity 01 02 03 CROSS-COMPANY Sell CRO for many other teams led to a boost in experimentartion. TOOLS & RESOURCES CRO team grows to manage demands and keep scailing testing. NEW TECH & PERSONALIZ. Technology investment can be justi ed and pursued.