Curiosity Stream Lifetime Value Optimization

Optimizing for Impact
Company
Curiosity Stream, Inc.
Duration
Jul 2022 – Jan 2023
Role
Senior UX/UI Designer
Team

1 Chief Financial Officer
1 Chief Technology Officer
1 Senior Front-end Engineer
1 Senior UX/UI Designer
1 Experiment Vendor

Landing pagelanding page - premiumlanding page - plan comparison

SUMMARY

Curiosity Stream Inc. is a publicly traded media and entertainment company that offers documentary streaming, with 25 million subscribers worldwide across subscription video on demand (SVOD) and linear channels.

In July 2023, we collaborated with Evolv AI for a value based optimization, as the usual conversion optimzation was limiting. My objective was to elevate the user experience and drive revenue. I meticulously redesigned the homepage and checkout experience to strategically optimize customer lifetime value (LTV) across the different subscription types. The result was a top-performing experience with a projection of 17% increase in LTV, that equates to over $2 million in increase revenue. This project revolutionized our approach to experimentation, going beyond the usual conversion and into other key metrics, like revenue.

BACKGROUND

As a publicly traded company, Curiosity Stream was under scrutiny of continued revenue growth and path to profitability, while facing the challenges of the streaming industry, saturation of streaming platforms and subscription fatigue of consumers.


The company was looking for ways to increase revenue and began to offer a new subscription option, the Premium bundle, that gives users access to numerous partner streaming services.

Premium Bundle

GOALS

  • Optimize the landing page for maximum revenue.
  • Prioritizing customer satisfaction by showcasing the exceptional value and enriched content of the Curiosity Stream Premium bundle.
  • This strategic focus mutually benefits users, by delivering additional content and a superior viewing experience, and Curiosity Stream, by boosting revenue and profitability with the high priced plan.

MY ROLE

I was the sole designer on this project, and worked cross-functionally with the CTO, CFO, and Senior Front-End Developer to bring to project to fruition.

  • Spearheaded the conceptualization and testing of all the different sections and variants of the landing page.
  • Crafted and presented designs to a broad spectrum of audiences, including executives and various internal stakeholders.
  • Analyzed crucial data metrics, with a specific focus on Customer Lifetime Value and comprehensive test results.

RESEARCH

Ran a short survey to those who visited the landing page and homepage via Hot Jar to gauge potential and current customers' awareness of the new Premium bundle.

The results:

  • Customers were not aware of all the benefits of the Premium plan


  • Customers did not realize the value of the Premium plan

DESIGNS

  • Identified existing sections for opportunities

  • Brainstormed potential new sections

  • From all the variant ideas and designs, dot voting with team to select designs for development and optimization testing

Hero Section
Control vs. Variant
Premium Section
Plan Comparison
Plan Selection
Sample Combinations

TESTING

  • Used value-based optimization with multi-variate testing over the traditional conversion-based.
  • Utilized Evolv AI that uses AI to analyze asset design and audience behavior and continuously improves experiments as they run, phasing out underperforming concepts while introducing new variants.
  • Analyzed historical subscription data to estimate Lifetime Value for each plan type.

OUTCOME

Through 5 months of testing, 1,296 combinations were tested against the control from over 1.5 million sessions. The winning combination surpassed the control by more than 17% in customer lifetime value, signaling an enhanced user experience and a direct positive effect on revenue. By implementing the winning experience, annual revenue is projected to increase by over $2M.

RETROSPECTIVE

From this experiment, at least 2 lessons were clear:

  • Conversion is not the only metric. We often focus on conversion as that's what drive the business, but other factors, such as lifetime value in this case, can also have major impact.
  • It's not always about the shortest path. Often time when designing for conversion or even engagement, we focus on getting the user to that Call to Action the fastest. But for more complex action or decision, some more information and context maybe helpful for the user.

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