Angie Hicks, co-founder of Angie's List, reports the company's membership scale.
Insight
Angie Hicks: Allocate 10 to 20 percent of marketing budgets for testing
“I never give up on something that works, but you should always be testing into the next thing. So, you know, so if it's one of those where it's like, hey, this really works, so maybe you're spending 80 or 90% of your marketing dollars there because you can jus…”
Assertion Not checkable as stated
Bill Oesterle warned Hicks the company might not afford her MBA return
“By that point Bill had hired a chief operating officer Who had conservatively modeled the business in such a way that after I had agreed to come back, Bill had to call me and say we may not be able to afford you.”
Insight
Occasional complaints reveal more about a business than perfect glowing reviews
“I honestly believe you learn more when you can see a company that has a couple of complaints here and there than you do about a company that has all glowing reviews.”
Assertion Not checkable as stated
Angie's List almost couldn't afford to rehire Hicks after business school
“Bill had hired a chief operating officer Who had conservatively modeled the business in such a way that after I had agreed to come back, Bill had to call me and say we may not be able to afford you.”
Insight
Consumers pay for reviews on high-cost-of-failure home improvement decisions
“And if you think about the kind of decisions they're making around your home, I mean, these, you know, I call these like the high cost of failure decisions, right? I mean, it's a time when you probably know the least about what you're buying. You're spending a…”
Assertion Not checkable as stated
Angie's List realized half of early signups came via basic website
“Bill asked, so how's that website working one day? And we realized it was like, you know, half of our signups were coming in over this little website.”