#GROWTH20 Wrap-up: Exploring frontiers of building a strong growth strategy
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As we settle back at work after #GROWTH20, we want to look back and reflect on some of the key highlights from the conference.
#GROWTH20, held in Bengaluru on 18th February 2020, brought together 100 brands, 200+ attendees and 15 speakers for a full day of learning. We also made a couple of big announcements, and as has been our practice, shared our product vision and roadmap with the audience.
Raviteja Dodda, Co-founder and CEO of MoEngage, spoke about the company’s 2X revenue growth, team strength and our vision and goal. MoEngage’s 2X revenue growth in 2019-20 was made possible by the new mobile-first and internet-first customers we collaborated with in various countries. The team of MoEngagites grew to 250+, including regional teams that support our customers who are spread across the globe. Ravi also highlighted our vision and goal for the future, which are aligned to make us relentlessly ‘customer-first’ in everything we do. Finally, he shared our product vision for 2020 and beyond – our focus will be on personalization, segmentation, and analytics.
Apart from showcasing our roadmap for 2020, we also had celebrated C-suite leaders, marketers and product managers sharing their expertise in growth strategy, retention and engagement methods.
Growth Strategy Presentations
Senior leaders from companies such as PhonePe, Superhumans and others made insightful presentations explaining their retention growth strategy and much more.
Retention Workshop by Gaurav Bhawnani – Co-founder, Superhumans: Gaurav spoke about the different ways of measuring retention, identifying drop off points, and stopping churn through a data-backed approach. He explained why brands need to understand that a successful product will result in a drop in churn rate. He shared some real-life examples of campaigns that he has executed in the past to understand retention rates. Gaurav also elaborated on how he has been using data to define retention metrics differently for different cohorts.
Retention Strategies to Improve Customer LTV by Rahul Chari – Founder and CTO, PhonePe: In his presentation, Rahul mentioned that keeping onboarding extremely simple is key to create an efficient user journey. To quote him, “Onboarding should be a simple setup that can break down user cycles and figure out their intentions towards completing a particular action.”
UI/UX Iterations by Tushar Mehndiratta – CTO and Co-founder, Avail Finance: Tushar showcased some interesting UI/UX examples that helped Avail minimize churn during user onboarding. He also emphasized that it is critical to keep the user motivated using AHA moments throughout the user journey.
Sharechat’s six-step journey from 0 to 60 Million MAUs by Sunil Kamath – CBO at Sharechat: Sunil described his company’s journey to growth and the hacks that delivered organic growth. He said, “The future of the internet is regional … today users who are consuming content in non-English languages are high”. We also learnt that at times, consumers might not realize what they want to consume. In such cases, the brand speaks to them directly. Sharechat used this insight to to give consumers various categories of content that they could choose from.
Growth Strategy Chat with Experts
We hosted some fascinating panel discussions featuring CMOs, CTOs, and Founders of companies such as OLA, Medlife, Vedantu, Bounce, Licious to name some.
The first panel discussion covered strategies for building the right marketing process, team structure and metrics for hyper-growth. The panelists discussed the importance of understanding the consumer, and how it is essential to link functional metrics to that particular consumer in the purchase journey. They spoke about carrying two lenses — one for a microscopic view that looks at day-to-day revenue targets, traffic and conversions; another for a telescopic view to understand how the brand is going to sustain in the long-term – and making both work.
Speakers: Aishvarya Murali – Head of Marketing, Ola | Mithun Sundar – CEO, Lendingkart Finance | Meera Iyer – CMO, Medlife
The next panel discussion started with the moderator, Ankush Garg of Deloitte, sharing his thoughts about leveraging analytics for CRM and growth. Flipkart’s Abhishek Shrivastava said that the last decade was about measuring success and the next decade is going to be about driving customers to the brand. VR Krishnan of Zoomcar added that the product needs to evolve in such a way that a customer has more reasons to come to the brand. We learnt how to use RFM models to become efficient at retaining and activating users while improving products to enhance DAUs from Sumon Chandra of Pocket Aces.
Speakers: Sumon Chandra – VP Marketing, Pocket Aces | VR Krishnan – Head of CRM, Zoomcar | Abhishek Shrivastava – Associate Director, CRM, Flipkart | Ankush Garg – Head of Digital Practice, Deloitte
The final discussion featured an all-founders panel, with panelists sharing ‘AHA’ moments from their respective startups. One such moment for Licious, shared by Vivek Gupta, was that 90% of their new users returned to the product. Shreyas Nagdawne of Supr Daily further emphasized the importance of retention when he highlighted their month on month retention of 98% in the first few months of their journey. Similarly, retention is also a key metric at Vedantu. Pulkit Jain, Co-founder and Product Head at Vedantu, added that they go very deep in measuring NPS differently for students and parents. Changing tracks, Varun Agni of Bounce observed that leadership philosophy needs to change over time in a startup. To quote him, “That really helps when the team starts growing. You need to make sure you don’t become the bottleneck of decisions.”
Speakers: Vivek Gupta – Co-founder, Licious | Varun Agni – Co-founder & Head of Product, Bounce | Pulkit Jain – Co-founder & Product Head, Vedantu | Shreyas Nagdawane – Co-founder, Supr Daily
Those were all the highlights of the speaker sessions. The event also saw the launch of our two much-awaited content assets:
The Complete Growth Strategy Handbook, a guide to setting up teams, processes & technology stack for your growth program. Readers will gain a deep understanding of forming and managing a growth strategy and learn how growth teams affect businesses – startups and enterprises, alike. Download it here!
E-commerce App Handbook for India, user retention trends and action items report with staggering facts about e-commerce app retention in India. This report includes ready-to-implement action items for PM managers and c-suite marketers.
With this, we draw the curtain on #GROWTH20, one of the trending hashtags in Bengaluru. #GROWTH20 was a grand success as the participants walked out much more informed than before. We learnt from industry stalwarts, and discussed solutions to problems that we face together as a community. Here’s to many more #GROWTH events ahead.
About #GROWTH:
At MoEngage, we believe that creating communities, sharing insights and learning from each other is an important cornerstone of a thriving business. #GROWTH events bring leaders from different industries together as a community to share industry nuances. We are proud to host and create a global community of growth marketers, product owners and entrepreneurs.
Want to learn more? Here’s what you should do next:
- Stay updated with the latest events, webinars, and #GROWTH resources
- Refer to our thorough handbook about planning an effective growth strategy across the factors of people, processes, and technology.
- Looking for ideas on creating effective omnichannel marketing strategies? Read our in-depth guide here.
- Watch videos, listen to our podcasts or register for an upcoming webinar for more such information.
- If you prefer having a free demo of our products: Get in touch with us.
