How Rounded profitably 3x'd product signups in less than 6 months

The Challenge: Identify and scale top growth channels

Rounded grew a substantial customer base in their initial years, despite being in a fiercely competitive landscape dominated by established players. 

They were able to build a compelling product and quickly cultivate a community of raving fans who fuelled sign-ups through word-of-mouth. 

On top of that, they pursued growth through impactful partnerships, referrals, and SEO.

Now, Rounded was ready for the next step:

‍

The Rounded founders wanted to get strategic clarity on which new channels to experiment with, which channels to double down on, and how to streamline their growth processes.

They wanted to partner with a team of full-funnel growth experts who would work directly with them to grow the company, instead of the traditional agency-for-hire model.

‍

Data-Driven Process: Full-funnel audit

First, the Demand Conversion team mapped out Rounded's conversion rate performance across the full funnel.

This allowed us to identify where we needed to plug any leaks and quick-win opportunities.

Key steps:

• Mapping out the cost of acquisition, lead volume and conversion rates by channel
• Mapping out website conversion, with segmentation for critical pages against relevant variables such as mobile vs desktop, target personas, etc.
• Qualitative data analysis – heatmaps, user recordings, interviews, surveys
• Evaluating messaging and positioning against known ICP pain and gain drivers

We also focused on our target personas to make sure we knew them inside and out:

• What did they need to be convinced of before they would be motivated to purchase? 
• Where did they search for invoicing and accounting software?
• What solutions did they currently use to address their pain points?

‍

The Strategy: Strengthen conversion rates before testing new channels

From our user research, one of the first opportunities we identified was tailored messaging and dedicated landing pages.

Here's a look at one of our top performers:

The Tactics: Optimized performance marketing and landing pages

We rigorously tested multiple performance marketing channels to see which ones would remain under our maximum target CPA whilst driving high-LTV subscribers.

Through highly specific audience testing and a methodical creative strategy focused on test-and-learn, we identified the top-performing acquisition channels we wanted to scale.

‍

The ROI: 207% Increase in Sign-Ups

After just 6 months, Rounded had increased their free trial signups by 207%.

One key performance marketing campaign had an average signup rate of 11% throughout the year. In other words, one in every ten people who clicked on an ad would sign up.

Although the CAC for our paid ads initially sat in the 3-figure territory, our optimization efforts helped us quickly reduce spend by 61% and reach 2 figures. This has resulted in profitable and long-term sustainable margins, given their customer’s lifetime value.

We continue to work closely with the Rounded team to optimize these campaigns and explore other growth opportunities.