The Eight Revenue Levers Powering the World’s Best Tech Companies

Revenue growth is a complex process driven by several different factors. The following article outlines 8 key levers for growth, explaining each strategy and its associated limitations. 8 key levers for growth 1. Growing the User Base 1. Growing the User Base This universal approach increases revenue by growing the number of users through acquisition via marketing channels such as performance marketing, content marketing, influencer marketing, partnerships, and SEO. The primary goal is expanding Monthly Active Users (MAU). With this approach, it is critical to closely monitor advertising efficiency, ROMI (Return on Marketing Investment), and retention metrics. Limitations: Limitations: Customer Acquisition Cost (CAC) tends to increase over time. Without strong retention, users churn after acquisition and never move further down the funnel. This approach may be ineffective if the product does not solve a real user pain point. Customer Acquisition Cost (CAC) tends to increase over time. Without strong retention, users churn after acquisition and never move further down the funnel. This approach may be ineffective if the product does not solve a real user pain point. Examples: Examples: Revolut — Performance Marketing Revolut — Performance Marketing During its launch phase, Revolut focused heavily on paid social (Facebook, Instagram, TikTok) and App Store Optimization (ASO). Their ad messaging clearly communicated the product’s core value: a free card, zero fees, and multi-currency accounts, while the team tested various creatives across different audience segments. To minimize churn, they optimized the user journey from the initial app open to registration and first use. This approach allowed them to scale their user base in lockstep with their increasing ad spend. Notion — Influencer Marketing Notion — Influencer Marketing Notion doubled down on influencer marketing by finding brand ambassadors and giving them the creative freedom to produce content without rigid corporate control. They encouraged users to share templates, write guides, and post life hacks for using the platform. Because the content felt authentic, it drove audience growth characterized by high levels of trust and deep product engagement. Slack — Partnerships Slack — Partnerships Slack leaned into a partnership marketing strategy, prioritizing integrations with tools like Google Drive, GitHub, and Jira. These partners recommended Slack as the go-to communication hub for teams. Since users already trusted the ecosystems where Slack was featured, they were much more likely to convert into active users. 2. Increasing Prices 2. Increasing Prices This strategy focuses on raising prices without making major product changes or driving user growth. After raising prices, it is important to closely monitor user behavior, especially conversion to purchase and purchase frequency. There are several ways to increase prices: There are several ways to increase prices: Charge a higher price for the same product or service. Introduce a new pricing model. Create multiple plans that offer different levels of value. Apply regional pricing. Charge a higher price for the same product or service. Introduce a new pricing model. Create multiple plans that offer different levels of value. Apply regional pricing. Limitations: Limitations: May lead to user churn, especially if the price increase is sharp or poorly explained. Requires strong value communication and clear justification for why the same value now costs more. May lead to user churn, especially if the price increase is sharp or poorly explained. Requires strong value communication and clear justification for why the same value now costs more. Examples: Examples: Netflix Netflix Netflix leans heavily into a price-hike strategy to drive profit growth. To ensure users feel they’re getting extra value for the higher cost, the team consistently invests in original content, from producing new series to streaming major sporting events. Beyond just raising prices, Netflix also introduced cheaper, ad-supported tiers to keep the product accessible for different segments of their audience. Adobe Adobe Adobe famously pivoted from its Creative Suite "perpetual license" model to a subscription-based system with monthly or annual payments. The team rolled out a variety of subscriptions: Photography Plan, Single App Plan, and the All Apps Plan (Pro), at different price points, while offering specialized discounts for students, educators, and institutions, alongside a dedicated B2B plan. This shift secured a predictable, recurring revenue stream. It also helped Adobe tackle software piracy and move away from rare, biennial releases in favor of continuous updates. Later, the team began phased price increases, particularly for pros and B2B clients. To justify the move, they bundled in high-value features like cloud storage and Adobe Firefly, their generative AI for creators. Spotify Spotify Spotify utilizes regional pricing to stay competitive. Depending on the market, an individual subscription can range from as little as $1-2 in Turkey to as much as $17 in Switzerland. 3. Increasing Purchase Frequency 3. Increasing Purchase Frequency This approach keeps the number of users and prices constant, but encourages users to make purchases more often. The key advantage of this approach is that it increases Lifetime Value (LTV) without increasing CAC. It relies on existing customers rather than acquiring new ones. To implement this strategy effectively, RFM analysis is often used. This means segmenting users based on three criteria: RFM analysis Recency: How long ago the user made their last purchase. Frequency: How often the user purchases. Monetary: How much the user spends. Recency: How long ago the user made their last purchase. Recency: Frequency: How often the user purchases. Frequency: Monetary: How much the user spends. Monetary: This analysis enables a more targeted approach for each segment. For example, you can try to re-engage users who have not purchased in a long time or offer higher-priced items to frequent buyers. Ways to increase purchase frequency: Ways to increase purchase frequency: Loyalty programs where more purchases lead to greater benefits. Subscription models instead of one-time purchases. More frequent re-engagement through marketing tools such as in-app messages or email. For example, monthly reminders to buy household supplies. Use-case expantion: solving more user problems within the product. Loyalty programs where more purchases lead to greater benefits. Subscription models instead of one-time purchases. More frequent re-engagement through marketing tools such as in-app messages or email. For example, monthly reminders to buy household supplies. Use-case expantion: solving more user problems within the product. Examples: Examples: Amazon Prime Amazon Prime Amazon Prime leveraged several tactics to ramp up purchase frequency. First, by making shipping free, they eliminated the "Is it worth ordering now?" friction. Instead of hoarding items in their carts to justify a delivery fee, users started shopping more spontaneously and frequently. Second, the Prime subscription itself created a powerful psychological lock-in. Once a user pays for the membership, Amazon becomes their "default" store, they want to get their money’s worth. Third, they introduced "Subscribe & Save," automating the replenishment of essentials like pet food, household supplies, and groceries. By turning these into recurring subscriptions, Amazon removed the decision-making process entirely, the purchase simply happens in the background. Another pillar of their strategy to drive frequency is use case expansion, where companies find new ways and reasons for customers to use their services. use case expansion Strategy 1: Horizontal expansion Strategy 1: Horizontal expansion Adding new tasks that users can solve within the product. For example, Notion followed a similar path. It started with simple note-taking, then expanded into knowledge bases, and later added project management tools such as progress bars and checklists. Strategy 2: Vertical expansion Strategy 2: Vertical expansion The product begins to solve more complex problems. For example, an email marketing service may expand its functionality by adding segmentation, automation, analytics, and A/B testing. Strategy 3: Expanding audience segments Strategy 3: Expanding audience segments The product is adopted by different types of users. For example, Miro is used by designers, project managers, and educators. Strategy 4: Expanding usage contexts Strategy 4: Expanding usage contexts The same product is used in different situations. For example, Zoom can be used for meetings, online classes, webinars, and events. To determine which strategies are most effective, it is essential to study user demand. This includes support tickets, reviews, search queries, feature requests, and feedback collected by sales teams. Limitations: Limitations: The product becomes harder to maintain. Increased complexity may confuse users. The core value proposition can become diluted. The product becomes harder to maintain. Increased complexity may confuse users. The core value proposition can become diluted. 4. Increasing Average Order Value 4. Increasing Average Order Value This strategy encourages users to spend more money per purchase through various techniques. Common examples of this strategy include upsell and cross-sell, which are especially popular in e-commerce. Cross-sell means offering complementary products. For example, suggesting a soda with a burger. Upsell means offering a more expensive option. For example, upgrading from economy to comfort or business class. Bundling products into packages, such as meal combos. Offering premium features. Ideally, users should see three price options: basic, standard, and premium. This increases the likelihood that some users choose a higher-priced option. Cross-sell means offering complementary products. For example, suggesting a soda with a burger. Cross-sell Upsell means offering a more expensive option. For example, upgrading from economy to comfort or business class. Upsell Bundling products into packages, such as meal combos. Bundling Offering premium features. Ideally, users should see three price options: basic, standard, and premium. This increases the likelihood that some users choose a higher-priced option. premium features Limitations: Limitations: Increased product complexity. Too many offers can overwhelm users, which means recommendation systems must be very smart. Increased product complexity. Too many offers can overwhelm users, which means recommendation systems must be very smart. Examples: Examples: Spotify — Upsell + Bundles Spotify — Upsell + Bundles Spotify pushes users to upgrade from its free tier, which includes ads, limited skips, and no offline mode, to a Premium subscription that removes all these friction points. Additionally, Spotify leverages tiered plans like Duo and Family. While these carry a higher total price tag than an individual sub, they are perceived as much better value for the money. Apple — Upsell + Cross-sell Apple — Upsell + Cross-sell Apple’s upsell strategy typically begins after a user selects a base model; they are then prompted to upgrade to more storage, a larger screen, or a more powerful chip. On the cross-sell side, Apple leans into its massive ecosystem, surrounding the core device with everything from AirPods and Apple Watch to digital services like iCloud and AppleCare. Amazon — Cross-sell + Bundles Amazon — Cross-sell + Bundles Amazon masters the cross-sell right on the product page with sections like "Customers also bought" or "Frequently bought together." This works because the user has already committed to a purchase, so the add-on feels like a helpful recommendation rather than a sales pitch. Furthermore, adding that extra item to the cart takes just one click, reducing friction to nearly zero. 5. Improving Conversion Rates 5. Improving Conversion Rates Revenue growth can also come from increasing the share of users who move from acquisition to purchase. This strategy is highly data-driven and is one of the main tools used by growth teams. Conversion can be improved at every stage of the funnel. For example, from landing page visits to demo requests, from demo requests to purchases, from one-time purchases to repeat purchases or subscriptions. Even small conversion improvements at each step can result in significant overall revenue growth. Conversion optimization may focus on: Conversion optimization may focus on: Onboarding, making it clearer, shorter, or more engaging through gamification. Paywalls, where users decide whether to pay. The transition from free trial to paid plan. Ensuring users do not drop off during payment due to card issues, slow loading, or technical errors. Onboarding, making it clearer, shorter, or more engaging through gamification. Paywalls, where users decide whether to pay. The transition from free trial to paid plan. Ensuring users do not drop off during payment due to card issues, slow loading, or technical errors. Limitations: Limitations: Requires strong analytics capabilities. Involves running many experiments, not all of which will succeed. Will not save a weak product. Conversion improvements are finite. Requires strong analytics capabilities. Involves running many experiments, not all of which will succeed. Will not save a weak product. Conversion improvements are finite. Examples: Examples: Spotify — Trial-to-Paid Conversion Spotify — Trial-to-Paid Conversion Spotify ran extensive A/B tests on its checkout interface, experimenting with various layouts and color palettes to identify which design best converts trial users into paying subscribers. Duolingo — Frictionless Onboarding (No Signup) Duolingo — Frictionless Onboarding (No Signup) Duolingo opted for a "no-signup-first" strategy. The experience kicks off immediately with a mini-lesson, letting the user test-drive the product right away. Only after they’ve experienced the value does Duolingo prompt them to register to save their progress. Canva — Personalized Onboarding Canva — Personalized Onboarding The moment a user signs up, Canva asks for their specific goal, whether it's creating a presentation, a resume, or social media posts. Based on the response, the app immediately serves up relevant templates. This personalized approach boosts conversion by ensuring users don't have to navigate through a generic, "one-size-fits-all" onboarding flow. 6. Reducing Churn 6. Reducing Churn The objective here is for users to stay longer, increasing their LTV and making revenue growth more sustainable. Churn can happen at different stages: during onboarding, while exploring the product and not seeing value, at the payment stage, or after a negative usage experience. Working on churn makes revenue growth more sustainable. The first step is understanding why users leave. This requires analyzing data for customers who stopped purchasing in the last three to six months and identifying patterns. The reasons may include delivery issues, poor support, or payment problems. This insight helps create a clearer churn reduction strategy. Effective churn reduction methods include: Effective churn reduction methods include: User reactivation through in-app communication or retargeting. Personalized offers work best, such as discounts on products the user previously purchased. High-quality customer support, especially in crisis situations. Responsiveness to user feedback about product improvements. User reactivation through in-app communication or retargeting. Personalized offers work best, such as discounts on products the user previously purchased. High-quality customer support, especially in crisis situations. Responsiveness to user feedback about product improvements. Limitations: Limitations: Slow impact. Requires investment in product development. Often difficult to measure directly and instead relies on proxy metrics such as NPS or CSAT. Slow impact. Requires investment in product development. Often difficult to measure directly and instead relies on proxy metrics such as NPS or CSAT. Examples: Examples: Duolingo Duolingo Duolingo are the absolute masters of reactivation. For instance, if a user hasn’t opened the app in a while, they get hit with notifications featuring a sad Duo the owl. The user feels a twinge of guilt and hops back into the app just to make it stop. This effectively drives up DAU and MAU metrics. They also play on the psychology of "loss aversion": to maintain a daily streak, users have to practice for at least a few minutes every day. This gamification motivates people to return to the app like clockwork. Netflix Netflix Netflix is expert at re-engaging churned users. If a new season of a show a user previously watched drops, the company sends an email blast with a "Restart Membership" button. This triggers FOMO, the fear that they’ll miss out on a massive cultural moment. To make the return seamless, they remove all friction: no need to re-enter card details or rebuild a profile, reactivation is instant. Netflix also preserves all user preferences and watch history long after a subscription is canceled, making it feel like they never left. 7. Expanding to New Segments or Markets 7. Expanding to New Segments or Markets This strategy involves selling the product to new audiences or in new geographies, offering high growth potential. Examples include: Examples include: Expanding from B2C to B2B segments. Entering new industries, such as moving from banking into insurance or from flight ticket sales into travel experiences. Expanding within the target audience, such as offering courses in additional languages. Localizing the product and entering new markets. New markets do not always mean new countries. They can also mean launching in new cities. Key factors to consider include competition, purchasing power, logistics costs, and local market specifics. Launching franchising or partner networks. Expanding from B2C to B2B segments. Entering new industries, such as moving from banking into insurance or from flight ticket sales into travel experiences. Expanding within the target audience, such as offering courses in additional languages. Localizing the product and entering new markets. New markets do not always mean new countries. They can also mean launching in new cities. Key factors to consider include competition, purchasing power, logistics costs, and local market specifics. Launching franchising or partner networks. Limitations: Limitations: Product-market fit is not guaranteed. Requires significant upfront investment. Often involves major product changes. Impacts company structure and increases headcount. Product-market fit is not guaranteed. Requires significant upfront investment. Often involves major product changes. Impacts company structure and increases headcount. Examples: Examples: Airbnb Airbnb Airbnb broke into a new segment by moving beyond just home rentals. They launched Airbnb Experiences, a platform where locals sell tours, workshops, and other activities. Apple Apple Apple successfully pivoted from being purely a hardware manufacturer to a services powerhouse. They expanded into fintech with Apple Pay and then took on the entertainment industry with the launch of Apple TV. Uber Uber Uber expanded its global footprint through strategic partnerships with local giants, such as their integration with Grab in Southeast Asia. By handing over operations to a local player in exchange for an equity stake, Uber maintained its market presence while offloading operational overhead and the massive ad spend required to outrun competitors. Amazon Amazon Amazon originally built out massive server infrastructure just to support its own e-commerce business. Realizing this capacity sat idle during off-peak seasons, they decided to rent it out to other companies, and that’s how Amazon Web Services (AWS) was born. 8. New Monetization Streams 8. New Monetization Streams This involves creating entirely new ways to monetize the existing user base. For example, introducing advertising sold to B2B clients within a B2C app. This helps diversify revenue and makes the business more resilient. Limitations: Limitations: Can harm user experience and cause negative reactions, especially early on. Requires expanding team competencies. Can harm user experience and cause negative reactions, especially early on. Requires expanding team competencies. Examples: Examples: Uber Uber Uber launched Uber Advertising, moving into the ad space to monetize the "captive" attention of its users. While the company initially relied solely on trip commissions, they realized they could capitalize on the time users spend waiting for a car or sitting in the back seat. Today, Uber sells B2B ad inventory not just within the app, but also via in-car tablets and digital rooftop displays. Grab Grab Grab began monetizing its restaurant partners beyond standard commissions by offering "promotional boosts." This allows restaurants to pay for increased visibility and push targeted offers to users within the platform. Spotify Spotify Spotify successfully monetized record labels through specialized promotional tools. The team built Marquee, a marketing instrument within the Spotify for Artists. When an artist drops a new album, labels can purchase full-screen sponsored recommendations. These ads reach both Free and Premium subscribers, driving up stream counts and building fan bases. Cost Reduction Finally, the last lever for increasing profit is cost reduction. This may include process automation, shutting down unprofitable initiatives, or cutting ineffective advertising spend. cost reduction Summary Not all revenue growth methods are universal, but experimenting with them helps identify what works best for your product. As mentioned earlier, many monetization strategies affect user experience, so it is important to launch them carefully and test them on small segments first to avoid alienating your core audience. It is usually better not to try all revenue growth strategies at once. Instead, focus on two or three, evaluate the results, and then move on to testing new hypotheses or adjusting your strategy.