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    Home » Breaking the rules of growth: Why Shopify bans KPIs, optimizes for churn, and prioritizes intuition

    Breaking the rules of growth: Why Shopify bans KPIs, optimizes for churn, and prioritizes intuition

    webmasterBy webmasterNovember 7, 2024 All Videos 2 Mins Read
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    Archie Abrams is the VP of Product and Head of Growth at Shopify, where he leads a 600+ person growth org across product, design, engineering, data, ops, and growth marketing. Shopify powers over 10% of e-commerce in the United States, with $235 billion in GMV in 2023 (roughly the size of Finland’s economy). He previously led Consumer product and growth at Lyft and was at Udemy for 8 years as SVP of Product having joined the company when it was 10 people. In our conversation, we discuss:
    • Why Shopify optimizes for churn
    • Why the core product team doesn’t use metrics-based goals
    • Why they keep multi-year experiment holdouts
    • How they structure their growth team
    • The benefits of not having a CMO
    • Lessons learned about integrating sales into a product-led growth model
    • The power of discounting as a growth lever
    • Much more

    —

    Brought to you by:
    • Explo—Embed customer-facing analytics in your product: https://explo.co/lenny
    • Dovetail—The customer insights hub for product teams: https://www.dovetail.com/lenny

    Find the transcript at: https://www.lennysnewsletter.com/p/shopifys-growth-archie-abrams

    Where to find Archie Abrams:
    • X: https://x.com/archieabrams
    • LinkedIn: https://www.linkedin.com/in/archie-abrams-b6aa8b6/

    Where to find Lenny:
    • Newsletter: https://www.lennysnewsletter.com
    • X: https://twitter.com/lennysan
    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:
    (00:00) Archie’s background
    (02:30) Shopify’s impressive growth
    (06:17) Shopify’s unique approach to churn and retention
    (08:43) Monetization model and success metrics
    (11:08) Long-term experimentation and metrics
    (23:00) Examples of big wins that Archie’s team has shipped
    (26:42) Monetary friction
    (27:14) Metrics
    (29:47) Shopify’s growth team structure
    (33:03) Goal setting and forecasting
    (37:10) Examples of long-term results within Shopify
    (41:36) Shipping neutral experiments
    (42:05) Building a hundred-year company
    (48:04) Why Shopify doesn’t use KPIs
    (51:30) Shopify’s “Get shit done” framework
    (54:30) Cross-team collaboration
    (58:48) The importance of an opinionated founder
    (01:01:12) Growth and sales integration
    (01:06:42) Shopify’s marketing structure
    (01:08:49) Insights on discounting from Udemy
    (01:11:09) Lightning round

    Referenced:
    • Shopify: https://www.shopify.com/
    • Tobias Lütke on LinkedIn: https://www.linkedin.com/in/tobiaslutke
    • Gross Merchandise Value: Calculation and Best Practices: https://www.shopify.com/retail/gross-merchandise-value
    • Brian Chesky’s new playbook: https://www.lennysnewsletter.com/p/brian-cheskys-contrarian-approach
    • Glen Coates on LinkedIn: https://www.linkedin.com/in/glcoates
    • Harley Finkelstein on LinkedIn: https://www.linkedin.com/in/harleyf
    • Udemy: https://www.udemy.com/
    • Scientific Advertising: https://www.amazon.com/Scientific-Advertising-Original-Claude-Hopkins/dp/1640954252
    • Four-Minute Mile: https://www.amazon.com/Four-Minute-Mile-Roger-Bannister/dp/1493038753/
    • The Sopranos on HBO: https://www.hbo.com/the-sopranos
    • Suno: https://suno.com/

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.

    webmaster

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