2 Growth Hacks for Better Activation + Conversion

Hey curious mind,

Here’s today’s dose to become smarter in 5 minutes:

• The Growth Insight: 2 Growth Hacks for Better Activation + Conversion

• What’s Up with Tech: TikTok's US Twist, Efficient AI Models

• Tools to Unlock Your Peak Potential

The Growth Insight 🌱

2 Growth Hacks for Better Activation and Conversion

Every seasoned growth operator has a secret arsenal of proven growth tactics, tucked away and ready to dazzle. Well, here are some of my favorite go-to moves:

1. Do Profiling in Onboarding (for increased activation & engagement)

One-size-fits-all experiences are great until they're not. As your product scales, different personas and user types start coming through the door. Suddenly, you'll see sliding activation, conversion, and retention rates.

Understanding your customers becomes crucial. Instead of relying on questionable third-party data sources, ask profiling questions during onboarding. This helps you segment metrics, understand goals, and tailor experiences.

Here's a structure for effective profiling questions (tailored for B2B):

• 📝 What's your role?

• 🏢 What industry are you in?

• 👥 How many employees does your company have?

• 🎯 What are you hoping to achieve with our product?

• 🤔 How familiar are you with [product category]?

• ✅ Any other tools you currently use for [product category]?

Don't worry about drop-offs. With reasonable limits (no more than 6 questions, 3 screens), profiling increases activation by helping customers focus. Use the data to:

• 📊 Segment acquisition, activation, engagement, and monetization efforts.

• 💬 Enable personalized emails and in-app messaging.

• 🛠️ Inform product personalization and roadmapping.

2. Implement Reverse Trials in Freemium (for increased conversion rates)

The debate: Trial or Freemium model?

Here's a curveball: mix it up with a Reverse Trial!

• 🆓 Freemium: Start for free, pay for more features.

• 💰 Trial: Start with a trial, pay up or leave when it ends.

Enter the Reverse Trial: Start with a trial that gives all paid features, then continue with a free version (fewer features). Why?

• 🎣 Users get hooked on paid features, boosting conversion rates.

• 🙌 Even if they don't pay, they stick around as free users.

• 💰 You can always offer another trial to nudge them towards upgrading.

Reverse Trials can lift freemium conversion rates by upto 50% and increase engaged user bases by 4x or more.

What’s Up with Tech🖥️

AI Assistants Unleashed: 🤖 Anthropic's Claude AI allows users to create personalized assistants for various tasks like data analysis, recommendations, and image processing.

Shareable Research: 📚 Perplexity's product enables the creation of long-lasting, shareable research artifacts using AI.

Trademark Tussle: ⚖️ Matter Labs' move to trademark "zero-knowledge" and "ZK" has drawn backlash from the crypto industry.

TikTok's US Twist: 🇺🇸 TikTok is working on a version of its recommendation algorithm that operates independently for US users.

Efficient AI Models: 💻 Researchers are exploring 1-bit large language models to reduce energy demands and computational power requirements.

ETH ETF Update: 💰 BlackRock has updated its S-1 application for an Ethereum ETF after other issuers received approval.

Tools to Unlock Your Peak Potential 🛠️

Glowbom- Create apps with AI without any coding skillset.

Taylor- API for text classification as well as categorization

FinPlus- AI-powered financial markets research for investments