so you put together a growth strategy youve run experiments and optimized your conversion rates you think you’re done think again hi Im fun AI trainer at growth try and today Im gonna show you how I can take growth hacking to the next level lets see the big picture first your growth strategy should look like this you validate your value proposition canvas and the business model canvas at least 80% then you find.
your personas to ensure you have product market fit you model the customer journey of these personas through pirate funnel focus on the one metric that matters then run experiments to improve this metric with the growth process this is already a powerful strategy but AI can take it further lets see how step 1 and rich in your persona so youve created a persona profile lets call him Bernard you found out where Nardos are big spenders and you dont know what when you perform an AI clustering analysis on your behavioral data you realize that Barnardos are not only big.
spenders that also read your blog often which is something other customers are not doing this means its probably beneficial for you to promote this blog if you’re already doing psychographic analysis you might have certain traits to describe bernardo however its only when you use AI that you realize there’s a correlation between the big spends of money and the factor Barnardos are extroverted and conscientious that means you can create at words that resonate with these traits if you want to try psychographic analysis Id recommend you to go to IBM Watson personality insights.
we also covered this in more detail in our AI course for marketing and growth check it out step 2 predicting conversions this is the difference between knowing what your customers have done and what your customers will do for example lets look at the retention stage of the pirate fun if you data-driven you already know the percentage of people live in your business every month however what if you could anticipate how.
many people are leaving or better which customers are likely to leave this is what an AI prediction model can do for you telling you which customers are in the danger zone so you can rescue them before its too late for example if you know which users are not engaged with an online course you might want to send them an email to retarget them or perhaps yours currently.
its manually going with your gut feeling a I can predict based on user behavior which of them are acquired and which are an activated there is a famous case from Target in which they predicted which of the customer were pregnant from their shop in history that way they could send them vouchers of baby products the problem is that with the automation process days and vouchers to a teenage girl her dad didnt really appreciate this pregnancy encouragement but in case you wonder him yeah she was actually pregnant step 3.
increasing the quality of your ideas we are now diving into the growth process particularly the first stage gathering ideas with all the results with this that’s already you know how much more potential to come up with great experiments let me give you a few examples if you predict your model shows that doing a calendar integration helps retaining customers you might consider making this calendar integration mandatory or if you predict it that users get activated after three visits to your platform you want to design experiments to make sure they come back.
at least three times or finally if you predict in a huge number of orders for Christmas you might want to improve your shipping capacity and step four filling your rapid experimentation this applies to all stages in the growth process for example lets say you conduct in a survey and you get responses a lot of responses natural language processing one of the ice most recently developed techniques can measure which words appear most often together theyre for identifying the most common topics that.
way you figure out whats working and what is it or maybe you’re a fashion journalist and you receive tons of images to study you just need to do a bit of image recognition to classify them in a matter of seconds when the AI spot similar groups of pixels corresponding to similar shapes it establishes one category for those images this comes in very handy when you have a large inventory to organize or to find similar patterns in the fashion.
industry and finally if you testing new elements in your website you may want to use a recommender system so you can send different versions to different personas these sales platforms likes qualify or Netflix billions of dollars every year because the content is much more relevant to the user this were the four main ways in which AI can empower your growth strategy is there any other aspect of AI you like us to discuss it.
so please leave a comment below also if you would like to review the growth strategy and the whole growth process please check this video by David dont forget to Like and subscribe and if you feel like covering these topics in that check our our courses in Amsterdam and longer Church.
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