My little growth hack (worth £2bn)

my little growth hack

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Maybe my best growth hack at Causeway Technologies was simply presenting the e-invoicing solution Tradex value proposition as, “the more you use it, the less it costs” (1)

To which the AVP Marketing (data analytics) Hugo Sousa said, when I floated it by him, “that’s brilliant, and it’s also supported by the data!”.

Here’s Causeway’s Tim Cole mentioning the Parliamentary Enquiry on e-Invoicing that reported that £2bn can be saved in the public sector with the adoption of electronic invoicing, such as Tradex: “If the UK economy can unlock that £2bn it’s a game changing opportunity for us all.”

Note:

(1) The science behind ‘the more you use it, the less it costs’ below, with thanks to Wikipedia:

“In economics, the Jevons paradox (/ˈɛvənz/; sometimes Jevons effect) occurs when technological progress increases the efficiency with which a resource is used (reducing the amount necessary for any one use), but the rate of consumption of that resource rises because of increasing demand.”

It’s easy it is to get even simple data wrong

Take a look at that this useful document from Andrew Chen to growing user signups using data and analytical thinking.

There’s a small error but it’s not obvious. Unless you compare it with similar tables.

The error appears in the Baseline Example for the Daily Dairy, in the table on page 8 which displays the answer as 5.6% of new users who post.

new_users_table

But I believe that’s not correct, as when you multiply the variables it gives you the answer 2.8%. Am I right? If I am right it shows how easy it is to get even the simplest of data wrong.

Rational Growth