Curiosity Stream Lifetime Value Optimization

SUMMARY

Curiosity Stream underwent rigorous testing and collaboration to optimize its landing page, resulting in a remarkable 17% increase in customer lifetime value, equating to over $2 million in additional annual revenue. Faced with challenges in increasing revenue and combating subscription fatigue, the company strategically aimed to elevate user experience and showcase the value of its Premium bundle. Through meticulous redesign and testing, Curiosity Stream aimed to maximize revenue while prioritizing customer satisfaction. The successful outcome underscores the importance of strategic optimization and data-driven decision-making in navigating competitive market landscapes.

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INTRODUCTION

In the ever-evolving landscape of streaming services, Curiosity Stream found itself at a pivotal moment. With the industry saturated and consumer fatigue with subscriptions on the rise, the company sought innovative solutions to drive revenue growth and ensure its path to profitability remained steadfast. This case study delves into the journey of transforming the user experience to strategically optimize customer lifetime value (LTV) and unlock new streams of revenue.

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CHALLENGE

Curiosity Stream faced the dual challenge of increasing revenue while prioritizing customer satisfaction amidst a competitive market. The introduction of a new subscription option, the Premium bundle, provided an opportunity to showcase enriched content and exceptional value. However, awareness and understanding of this offering among potential and current customers were lacking, hindering its revenue potential.

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‍OBJECTIVE

The primary goal was to optimize the landing page to maximize revenue while prioritizing customer satisfaction. This involved elevating awareness and showcasing the value proposition of the Premium bundle to drive subscriptions and increase customer lifetime value.

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MY ROLE

As the sole designer on this project, I played a pivotal role in driving its success. Working cross-functionally with the CTO, CFO, and Senior Front-End Developer, I spearheaded the conceptualization and testing of all sections and variants of the landing page. Additionally, I crafted and presented designs to a broad spectrum of audiences, including executives and various internal stakeholders. Through careful analysis of crucial data metrics, with a specific focus on Customer Lifetime Value and comprehensive test results, I ensured that our decisions were grounded in actionable insights.

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RESEARCH

To understand user perceptions and preferences, a short survey was conducted using Hot Jar. The results revealed a lack of awareness and understanding of the Premium bundle's benefits among customers, highlighting the need for strategic redesign and communication.

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DESIGN PROCESS

1. Identifying Opportunities: Existing sections were evaluated for optimization opportunities, while brainstorming sessions led to the exploration of new sections to highlight the Premium bundle's value.
2. Conceptualization: Various design variants were conceptualized, focusing on clarity, simplicity, and compelling visual storytelling to convey the benefits of the Premium bundle.
3. Collaborative Decision-Making: Designs were presented to cross-functional teams, including executives and internal stakeholders, for feedback and iteration, ensuring alignment with strategic objectives.

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Hero Section

Premium Section

Plan Comparison

Plan Selection

Sample Combinations

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IMPLEMENTATION

Utilizing value-based optimization and multi-variate testing, designs were rigorously tested using Evolv AI. Historical subscription data provided insights into customer lifetime value, guiding decision-making throughout the experimentation process.

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OUTCOME

After five months of testing over 1.5 million sessions and 1,296 combinations, a winning design emerged. The optimized landing page surpassed the control by over 17% in customer lifetime value, signaling a significant improvement in user experience and revenue potential. Implementation of the winning design is projected to increase annual revenue by over $2 million.

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RETROSPECTIVE

Two key lessons emerged from this experiment:

1. Beyond Conversion: While conversion is crucial, focusing solely on this metric may overlook other factors, such as customer lifetime value, which can have a substantial impact on revenue.
2. Contextual Design: Providing users with the necessary information and context, even if it extends the path to conversion, can enhance decision-making and overall user experience.

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CONCLUSION

The journey to optimize the user experience for revenue growth was not without its challenges, but through collaboration, innovation, and a commitment to excellence, Curiosity Stream achieved remarkable results. This case study underscores the importance of strategic optimization, data-driven decision-making, and a user-centric approach in driving sustainable growth in a competitive market landscape.

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