Morrow Ventures: Optimising Marketing Mix with User Acquisition Insights

• Streamlined reporting in one place to monitor performance for all traffic sources and campaigns and funnel
• Identified user journey’s friction points to reduce drop-off rates and lead to higher conversion rates.
• Optimised cross-channel advertising strategy by providing the insights to reallocate budget to higher-performing channels and campaigns
• Set up regular team check-ins for marketing strategy advice and stakeholder alignment

Morrow Ventures, an operational investor, recently faced growth challenges with one of their portfolio companies in the health-tech sector:

• Unclear drop-off rates in the user flow.
• Difficulty in identifying and prioritizing marketing initiatives that drove quality traffic.
• Inefficiencies in campaign performance comparison and strategy monitoring.

Morrow Ventures partnered with Adasight to implement a systematic approach that improves their startup's user acquisition strategy. This collaborative effort focuses on refining and optimizing the initiatives of their startups,  ensuring effective growth and achieving long-term success.

Step 1: Audit and Data Consolidation

• Consolidated data from various channels and campaigns.
• Conducted an in-depth audit of existing acquisition strategies and technology stacks.
• Defined KPIs that resonated with business objectives for acquiring users.

Step 2: User Experience Analysis

• Mapped the user flow to pinpoint drop-off points.
• Utilized analytics to identify user behavior deviations from the funnel goals.
• Refined user paths to streamline the conversion process.
• Resolved technical issues hindering user experience.

Step 3: Campaign Analysis and Optimization

• Evaluated the performance of each marketing channel.
• Assessed ROI for individual campaigns and adjusted budgets towards the most fruitful ones.

Step 4: Attribution Modeling

• Deployed attribution modeling tools for deeper insights into the contribution of various marketing touchpoints.
• Analyzed cross-channel interplay and their collective impact on conversions.

Step 5: Monitoring and Reporting

• Created a comprehensive dashboard for tracking user acquisition metrics.
• Instituted regular strategy reviews and data-driven decision-making.
• Adopted a cycle of ongoing refinement to stay responsive to market dynamics.
• Provided training to align team members with the revised acquisition strategy.

We successfully implemented a multifaceted solution, which led to:

• A tailored user acquisition framework that facilitated the identification and improvement of funnel weak points.
• Improved marketing initiative effectiveness, allowing for better budget allocation to channels with the highest performance.
• A custom analytics dashboard that centralized campaign data, enabling the measurement of campaign success against defined KPIs.
• Reports that showed performance trends and helped Morrow make smart optimization choices.
• Better control over how the team managed and directed their marketing efforts.

By meticulously auditing, analyzing, and adjusting its strategies, Morrow Ventures transformed its user acquisition approach for the health tech company of their protfolio, resulting in a cohesive and data-driven environment that supported ongoing growth and a healthy return on investment.