Prepared for: The Wander Club /// Prepared by: Ned MacPherson
July 8th, 2022
Proposal
Dear Kenny;
Thank you for the opportunity to apply Endrock's growth system for scale to meet the needs of The Wander Club. We look forward to working with you and your team and getting started on this exciting new phase for the company.
As always, if you have any questions about the below please do not hesitate to reach out to me directly.
Endrock is a nimble, data-driven, technical growth hacking team focused on discovering and optimizing the factors most correlated with growth within a client's business or organization. We apply a unique scientific model to brand scaling, in which we identify the highest leverage points within a brand's product and/or customer funnel, and apply rapid experimentation to "move the needle."
Unlike marketing agencies, we address factors in the entire brand funnel:
Awareness
Acquisition
Activation
Retention
Referral
Revenue
The Two-StepGrowth Process
Step One: Determine the factors correlated with, and causal of growth
Understand historical data, identify hypothetical correlations, and test those hypotheses to establish whether the correlation is statistically significant or not. In this phase, we pay particular attention to leading vs. lagging metrics, metrics on fire, and avoid vanity metrics.
This is a critical stage, as nearly all brands have a handful of factors which are directly causal of growth. If these factors are accurately discovered and later optimized, then growth is imminent.
Step Two: Select highest-impact factors and run growth iteration loops
Our team uses group ideation around features or updates that would most directly impact the determined factors of growth. We then nominate the best, most impactful growth ideas based on ICE scores:
Impact: How impactful is the idea on the target factor?
Confidence: How confident are you in the execution and impact?
Ease: How easy is it (both time and resources) to execute?
Next, we rapidly execute lean MVTs (Minimum Viable Tests) on nominated growth ideas to experiment on hypotheses and prove or disprove their effectiveness.
After each MVT runs for 7-14 days, we analyze the results. If the MVT impacted the desired metric, we double-down. If not, then we iterate, or end testing and move to the next nominated idea.
We then repeat this loop. Speed is the key.
Iteration Loops: The Key to Growth
The growth iteration loop is meant to be a cyclical process in which critical metrics are uncovered, evaluated and improved upon. Before growth loops begin, the team analyzes a brand's metrics to determine:
non-critical vanity metrics
“metrics that matter”
“metrics on fire” and
causal vs. correlated event metrics.
From there, the growth iteration loop proceeds as follows:
1. Audit:
Determine and review critical metrics (“on fire," “that matter," causal vs correlated, etc.) to take an objective look at the product and customer funnel.
2. Ideate:
Use hard and soft data (quantitative + qualitative reasoning) from the analysis to ideate on improvements, new features, existing channel optimizations or new channel discovery.
3. Prioritize/Nominate:
Educated and group-consensus determination of which ideas to experiment with, based on group consensus on which ideas will impact most, the key factors to growth.
4. Execute:
Do the work. Deploy necessary in-house resources and execute on prioritized ideas. Manage “growth cards” and expectations as to delivery timeline and expected results and hypotheses.
5. Analyze:
Review results to determine objective wins, losses or tests that are inconclusive. Determine which ideas to double-down on vs. drop altogether vs. iterate and try again.
6. Repeat:
Repeat iteration loop at pace of 3 executed tests per week.
All engagements will initiate with a thorough audit across the product and customer funnel (including on site conversion rate analysis). This audit will quickly highlight the most pertinent areas of friction within the customer experience that need to be addressed.
Growth Team
Growth lead
Sets ideation and execution pace for team; communicates with clients; talks to brand customers to gather insights. Aggressive and fast-paced.
Front/Back-end UX developer
More interested in building MVT's than perfect features. Agile and quick sprint focused.
UI/UX designer
Focused on user interaction, not just aesthetics. Measures work based on speed and designs MVT's quickly.
Analytics lead/Data scientist
Constantly seeks correlation and causality. Filters vanity. Always asks: "will this metric change our behavior?" and "what's the next metric to be optimized?"
Execution lead
Fills in the gaps for non-technical pieces to experiments. Outreach focused. Sales oriented. Talks to customers alongside Growth lead.
Goals & Objectives
The Wander Club seeks to achieve the following:
1. Implement areas of best-practice as well as unique experimentation throughout its digital ecosystem. This includes Homepage, product pages, supporting pages and checkout funnel (cart + checkout pages) for the purpose of conversion rate optimization.
2. Improve site speed and leverage better SEO and metadata, backlinks and off-site content for organic rankings increase and customer acquisition.
3. Diversify and optimize customer acquisition channels to boost Conversion Rate, Email opt-in rate, Retention and ultimate LTV (email, social, paid media, organic search, paid search, affiliate, partnerships, SMS, etc).
4. Overhaul reporting and core analytics platforms for accurate interaction data of consumer behavior.
5. Boost core retention channels such as organic viral coefficient, email marketing retention, loyalty systems and referral traffic.
Statement of Work
Typically, 80% of Growth is “best practice” and 20% is highly-experimental growth hacking. For this SOW, we'll be focusing on both the "best practice" initiatives to lay the framework for successful scaling, as well as empirically backed new experimentation for growth opportunities, which may include:
Proactive growth ideation and execution
The core of what Endrock offers. As per the aforementioned on how growth cycles work, it is our responsibility to:
1. analyze key metrics;
2. determine which metrics require immediate attention;
3. objective ideation to improve the metric;
4. wireframe and execute the strategy behind the ideation;
5. re-analyze the metric post execution; and
6. "rinse and repeat" until metric moves, or shift to new top priority metric.
Landing page CRO
Spec, wireframe and execute landing page UI/UX overhaul (Homepage anatomy best practices) as well as content block or feature-specific experimentation for the purpose of more initiate-quiz flow conversion events
Client approval and tweaks to UI/UX overhaul
Development, QC, testing, and Go Live
Checkout CRO
Spec, wireframe and execute checkout page CRO initiative (based on limitations of existing CMS)
Client approval and tweaks to checkout page UI/UX overhaul
Development, QC, testing, and Go Live
Cart CRO
Spec, wireframe and execute Cart (side-drawer and cart page); Up-sell; Cross-sell; color CRO; etc) experimentation
Client approval and tweaks to cart page/drawer UI/UX overhaul
Development, QC, testing, and Go Live
PDP & Collection page CRO
Spec, wireframe and execute PDP UI/UX overhaul (reviews; education boost; dynamic imagery; corner treatments; etc) and unique experimentation
Client approval and tweaks to PDP UI/UX overhaul
Development, QC, testing, and Go Live
Automations+ Email Best Practice & experimentation
Welcome Pop + opt in fields + opt in offers
Welcome + Abandon + New Customer Series
New lifecycle automations + cadence and frequency experimentation
Email campaign development and experimentation
Affiliate
Optimize and experiment with scaling initiatives for affiliate marketing program for the purpose of new customer acquisition
Optimize affiliate relationships based on traction
Ideate and execute on brand-specific affiliate boosting strategies
Google Analytics Cleanup
Setup Referral Exclusions
Setup Proper Account Filters
Update Default Channel Grouping Settings
Setup Destination & Funnel Goals
Setup & Sync Search Console
Create Fundamental Segments
UTM Database Management
Create UTM nomenclature matrix
Create UTM Builder tool
Create Menu of Dynamic URL's
Site Speed & Performance + Technical SEO
Run site speed & performance review
Overhaul technical SEO for better organic ranking
Testing and Reporting Setup
Audit Google Tag Manager
Audit Google Optimize Container
Add and Setup HotJar/Heat mapping tool if applicable
Audit or establish structured data warehouse if applicable
Addition of ETL schema, if applicable
Interstitials
Spec, wireframe and execute interstitials highlighting reviews, offers or assistance for intra-funnel conversion rate increase
Develop interstitials and push live (when applicable)
Referral & Rewards
Spec Customer Referral Program via Friendbuy or similar vendor (initial ideation here is leveraging referral to accelerate someones position in the registered waitlist)
Launch 4-week Referral Widget Trial
Build upon leading indicator data to maximize referral revenue
Reporting Structure
Endrock delivers weekly reports outlining our "growth cards." Each card starts as an idea, extends through nomination and execution, and eventually lands in "learnings." The client will receive reports outlining the learnings of existing cards (experiments), an outline of which experiments are currently active, followed by those that are nominated "up next."
Below is a sample growth card found within a report.
Pricing Summary
The Wander Club: Growth Ideation & Execution Quote
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Item
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Monthly Engagement Fee (Month to Month agreement with 30-day opt out)
