Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Pricing

Phil Carter

๐Ÿ‘ค Speaker
684 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

And then the third reason is, oftentimes, even for consumer businesses, and certainly for B2B businesses, if you're that early, you simply don't have enough users to be able to measure a statistically significant difference in a small optimization type of an A-B test. And so you're much better served taking these big swings.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

Now, on the other end of the spectrum, if you are a more mature company, especially if you're still in that hyper growth steep part of the S curve, then it can make a lot of sense to do small paywall optimizations and optimizing every last screen in your onboarding flow, or even changing the color of your CTA button in the case of Amazon.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

Now, on the other end of the spectrum, if you are a more mature company, especially if you're still in that hyper growth steep part of the S curve, then it can make a lot of sense to do small paywall optimizations and optimizing every last screen in your onboarding flow, or even changing the color of your CTA button in the case of Amazon.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

Now, on the other end of the spectrum, if you are a more mature company, especially if you're still in that hyper growth steep part of the S curve, then it can make a lot of sense to do small paywall optimizations and optimizing every last screen in your onboarding flow, or even changing the color of your CTA button in the case of Amazon.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

Because a tiny decimal point movement in things like subscriber conversion or checkout conversion can be millions of dollars in incremental revenue. So it really just depends where you are on that curve.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

Because a tiny decimal point movement in things like subscriber conversion or checkout conversion can be millions of dollars in incremental revenue. So it really just depends where you are on that curve.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

Because a tiny decimal point movement in things like subscriber conversion or checkout conversion can be millions of dollars in incremental revenue. So it really just depends where you are on that curve.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

Yeah, well, one of them I can speak to because I made this mistake personally. So I led the core product team at Ibotta and then I moved over to Quizlet and helped them build and scale their growth team, their product growth team. And when I first started to hire product managers, and this was not just true of growth, it was true of core product as well.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

Yeah, well, one of them I can speak to because I made this mistake personally. So I led the core product team at Ibotta and then I moved over to Quizlet and helped them build and scale their growth team, their product growth team. And when I first started to hire product managers, and this was not just true of growth, it was true of core product as well.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

Yeah, well, one of them I can speak to because I made this mistake personally. So I led the core product team at Ibotta and then I moved over to Quizlet and helped them build and scale their growth team, their product growth team. And when I first started to hire product managers, and this was not just true of growth, it was true of core product as well.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

I had this tendency to focus too much on specialist skill sets. I want to hire somebody to work on the core product experience who has a design background and who's just really, really good at understanding user psychology and building the perfect aesthetics for an end user experience. Or I want to hire somebody to work on growth who comes from an extremely analytical background, ideally like

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

I had this tendency to focus too much on specialist skill sets. I want to hire somebody to work on the core product experience who has a design background and who's just really, really good at understanding user psychology and building the perfect aesthetics for an end user experience. Or I want to hire somebody to work on growth who comes from an extremely analytical background, ideally like

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

I had this tendency to focus too much on specialist skill sets. I want to hire somebody to work on the core product experience who has a design background and who's just really, really good at understanding user psychology and building the perfect aesthetics for an end user experience. Or I want to hire somebody to work on growth who comes from an extremely analytical background, ideally like

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

has already had 3 to 4 years of growth PM experience or comes from a quantitative background like investment banking or whatever the case may be. Well, it turned out that was just misguided because I think product managers need to be strong generalists. They need to be able to flex to whatever the demands of the business dictate in any given quarter.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

has already had 3 to 4 years of growth PM experience or comes from a quantitative background like investment banking or whatever the case may be. Well, it turned out that was just misguided because I think product managers need to be strong generalists. They need to be able to flex to whatever the demands of the business dictate in any given quarter.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

has already had 3 to 4 years of growth PM experience or comes from a quantitative background like investment banking or whatever the case may be. Well, it turned out that was just misguided because I think product managers need to be strong generalists. They need to be able to flex to whatever the demands of the business dictate in any given quarter.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

And then also, I just think with growth PMs in particular, I think that the traits that are most correlated with success are deep intellectual curiosity, a desire to move fast and deliver impact as quickly as possible for the business, and a willingness to take smart risks. And those things don't necessarily relate to specific experiences or skill sets.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

And then also, I just think with growth PMs in particular, I think that the traits that are most correlated with success are deep intellectual curiosity, a desire to move fast and deliver impact as quickly as possible for the business, and a willingness to take smart risks. And those things don't necessarily relate to specific experiences or skill sets.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

And then also, I just think with growth PMs in particular, I think that the traits that are most correlated with success are deep intellectual curiosity, a desire to move fast and deliver impact as quickly as possible for the business, and a willingness to take smart risks. And those things don't necessarily relate to specific experiences or skill sets.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter

But I learned to focus less on these sort of like specialized skill sets and more on just finding really smart, hungry generalists who are ready to roll up their sleeves and figure it out.