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GenCast is software that hosts live, continuing education webinars for tax and accounting professionals. Avalanche Creative is in charge of user experience for the platform, making sure everything that is built is intuitive and easy to understand. We also help develop ongoing digital marketing strategies for driving more qualified tax and accounting professionals to the site and increasing the likelihood that they will sign up for a free or paid webinar.
With GenCast we continually employ the build, measure, learn feedback loop in order to achieve continued growth.
The learning stage always starts with assumptions. We ask as many relevant questions as possible and then determine what needs to be done in order to answer those questions. This is called “validated learning.” We make our assumptions about how something should or could work, then ask ourselves how we are going to prove that, then do it. With GenCast we asked questions like:
- How do you qualify a good user experience?
- What are the main motivations for tax and accounting professionals to take a live webinar?
- How do we capture the attention of tax and accounting professionals?
- What is going to make GenCast unique amongst its competition?
- How do we retain customers and ensure they will come back to the platform?
By asking big questions, we started to break our big questions up into smaller, much more solvable questions. We interviewed users, did a competitive analysis, gathered and quantified feedback, and put together a working assumption of what we believe the answers were to all of our questions.
Once we had our questions answered, we put them all together to determine what was most important to build right away. Without asking questions and going through the learning/discovery phase properly, you’ll end up building a bunch of waste that no one will use. By only building what we learned was absolutely necessary the first time around, we were able to launch a product quickly and with signs of early success. With the employed strategy, which for confidentiality reasons we cannot disclose, we assisted in returning on-site conversion rates of over 50% at times. Yes, you read that right. Typically, the average conversion rate across the web is 2%. In other words, we helped GenCast strike gold.
Conversion rates aren’t hard to measure, though too many businesses are not measuring the effectiveness of their site or marketing campaigns with conversion rates. However, those numbers aren’t the only data that drives decision-making. We look beyond the numbers and decipher what it is they are telling us about opportunities for future growth. The 50% conversion rate was fantastic and continues to maintain extraordinarily high numbers, but that was just the conversion rate for one marketing channel. There are always more to explore and experiment with. This is why we take a look at the numbers to understand from them what we need to build next. Measurement completes the build, measure, learn feedback loop, but if you want continued growth, it never really ends.