Increase MRR from $3,000 to $7,000 in 1 month
Hi!
We are the guys from GrowthHack.Studio - we help businesses grow multiples through systemic hypothesis testing (Growth Hacking As A Service).
In our last case study - we grew the MRR of 1 customer of a halal installment service from $3000 to $7000 in 1 month.
Their business is based on the fact that they connect to an online store (like Klarna) and the customer can choose installments from them as a payment method, rather than paying for the entire order at once.
We spent $0 on increasing metrics, we only systematically tested and measured hypotheses. Given that they don't own the online store - we had to negotiate with the online store for each change.
The 4 most successful hypotheses were:
- We added a popup with information about the possibility to take in installments: +40% to open applications
- We started calling customers who didn't fill out the form to the end within 3 minutes: +70% on completed forms
- We posted information about us on the store's instagram account: +40% to sending installment applications
- A "Halal Installment" icon appeared on every picture of clothing: still testing, but very likely to be successful.
In addition to them - we got about 10 more small successful hypotheses, which together gave a multiple increase in revenue on the current customer traffic, without attracting new ones (the store has 50% of the sales began to go through installment).
The successful hypotheses this startup began to apply to its other stores, increasing the cumulative MRR in the process.
Because of the recent launch of GrowthHack.Studio we, a team of 3 specialists, are ready to grow 3 startups for free for a month. We will post all the results without mentioning the startups on the forum.
If you want to take part and become one of 3 startups ready to try Growth Hacking As A Service - leave a comment or email me at v.petrosov@growthhack.studio
