Dear Reader,
Welcome to the 37th edition of the good reads newsletter by Malpani Ventures. Sharing your weekly dose of articles for this weekend’s reading!
The gist: in-product experiments
Quick in-product experiments could increase your free-to-paid conversion by 50% or more:
Removing demo mode : You might think a demo mode would activate users faster, but some user personas want to quickly get hands-on with the product
Improving a getting started checklist: Improved the UI of 7shifts’ in-app checklist by focusing the customer on taking one action at a time with a clear CTA.
Moving setup moments to an onboarding wizard: smart defaults and pre-populated data, but let users edit data for their specific context.
Adding an in-app trial of a higher tier plan: After a new feature is launched, allow customers to renew the trial of the new full plan in order to give the customer another chance to experience the additional value.
Drop-off rates after the first day can be surprisingly high. At the average SaaS company 40-60%+ of new users never return to the product on a second day. If a user does see value on their first day, they’re far more likely to become a paid customer and share your product with others compared to if they don’t.
The Billion Dollar Creator
https://nathanbarry.com/billion/
In the summer of 2010 Emily Weiss, a fashion assistant at Vogue, had the idea to start her own fashion blog. The blog was an immediate hit and by 2012 it received more than 200,000 visitors per month.
Eight years later, what do you think the site is worth? Millions? Tens of millions? While that would be an insane success for a blog, it’s not even close to the correct answer of $1.2 billion!
Communicating at the Right Altitude
A piece which explains communication strategies for founders:
The key to flying high is to focus on the message you want to land, not the words you're saying
Knowing how to speak at other people’s altitude, and giving them the tools to connect the dots, is important for helping them find ways to help you. Before you go into a meeting, think about what they're most likely to care about. For example, if the biggest issue at your company is monetization, what is your team doing to contribute to it?
Until next time folks !