How Issuu Leveraged Corrily’s Experimentation Capabilities for Growth
Some takeaways from the session are:
1️⃣ Users are increasingly concerned about paying the right amount for the value they receive. To address these concerns and potentially increase revenue by 15-20%, it’s crucial to maintain an active monetization strategy that involves continuous testing, learning, and iteration.
2️⃣ Conducting experiments for monetization and growth can be costly, both in terms of time and resources. There’s a potential risk of losing revenue if experiments don’t yield positive results. Additionally, it’s important to understand the nuances of monetization testing compared to broader product testing like A/B testing.
3️⃣ Different companies have varying capabilities when it comes to conducting experiments rapidly and at a large scale. The process of building a culture of experimentation, where testing and learning are prioritized, is essential. Maintaining a consistent and positive user experience during experiments is crucial for the success of the testing process.
4️⃣ It’s important to tailor experimentation frameworks to suit the specific needs of monetization product managers. Monetization PMs often work with different levers compared to other product areas, such as user experience. Segmentation is a critical factor, and the ability to segment users based on various factors like geography, activity, or acquisition channel is essential. This customization allows for quick adaptation of experiments without extensive engineering involvement. It’s also important to conduct tests in a way that doesn’t disrupt or provide an inconsistent experience for end users, or to test ideas on specific user segments before scaling, ensuring data-driven validation before broad implementation. A purpose-built experimentation platform like Corrily helps with the unique requirements of monetization PMs.
5️⃣ Prioritizing experiments based on specific objectives is critical. For growth and monetization teams, particularly in B2B SaaS companies, there are various low-hanging fruit experiments that they can test to align the value offered with the price charged, such as testing the willingness of users to pay across various markets, user segments, and acquisition channels. This is an area where they have effectively leveraged Corrily.