This episode carries Karl Sun's own address, with nobody on the show putting
questions to them. It still counts as said, and it is kept out of every score on their page.
Karl Sun, co-founder and CEO of Lucidchart, reflects on marketing experimentation lessons and balancing quantitative data against qualitative company evolution.
Assertion Not checkable as stated
Requiring credit cards for free trials generated $500K incremental ARR for Lucidchart
“These changes ultimately on, on the pricing page ended up back in the day for us, Contributing about 500,000 dollars of incremental revenue in just 12 months, which was a huge win for us back at the time. And overall, they increased payments by 25%, which is o…”
Assertion Not checkable as stated
Lucid Software's growth team generated $1M incremental ARR in its first quarter
“So, when we started when we started the growth team, we had this goal that, ah, we, you know, our target was if they can be successful, that would mean they would contribute like a million dollars in incremental revenue, ARR, over the course of that first year…”
Assertion Not checkable as stated
Emphasizing free plans increased Lucidchart registrations but hurt downstream paid conversions
“And our thought, obviously, was that, you know, free would lower the barrier for people to enter, and it's true that it increased a lot of registrations, right? But what happened is we brought in a lot of interest, but they were, because they were anchored on …”
Assertion Not checkable as stated
Replacing 'start free trial' with 'try or buy' improved Lucidchart's lead quality
“And instead of saying, start a free trial, We've now saying, you know, try or buy, and so that's a actually meaningful difference, like just de-emphasizing that idea of free. And so what we found is, you know, obviously we've lost some traffic, lost some regis…”
Insight
Desaturated org charts with grayed-out faces converted best on Lucidchart's homepage
“This org chart was the most effective, and not only was the org chart more effective, but we realized that when you put people's faces in pictures, it resonated more with people, and even furthermore, it worked best when these faces were sort of grayed out or …”
Insight
Lucidchart's viral pop culture flowcharts ultimately failed to communicate core product utility
“We realized it actually didn't do a great job of introducing you to the product, even less so than the song ones, and telling you how to use our product or what it would be useful for.”