The Top Four Ways the Next Hottest Products Are Driving Growth

Today, we’re releasing the latest edition of our Next Hottest Products Report, which reveals the highest-growth products from around the world based on a year of Amplitude’s exclusive customer growth data.

The results are striking: Five of the products saw more than 200% growth! And although they represent a spectrum of industries—from B2B to health and wellness to media and entertainment—the products share similar practices for driving remarkable growth.

Let’s explore the top four strategies these high-growth products used to surpass their peers in a crowded market.

1. Take feedback seriously

A lot of brands say they value customer feedback, but how many actually act on it?

Tennis app SwingVision’s team takes customer feedback so seriously that they engage with customers on Reddit, says CEO and Co-Founder Swupnil Sahai. These exchanges have helped SwingVision create a better product experience and beat the competition, notching 147% in growth.

San Francisco-based educational platform Maven made major changes in “direct response to what our users were asking for,” Maven CEO Gagan Biyani recalls. Although risky, the bets paid off in the form of 113% growth. For Maven, the approach validated its belief in the value of “listening deeply to our customers and creatively crafting solutions to solve their needs,” as Gagan puts it.

Juan Carlos Delgado, CTO of Spanish car-subscription platform Bipi, which grew by 74%, describes a similar approach. Delgado notes that listening to customers and adapting offerings to their needs is core to the platform’s focus on “delivering an exceptional user experience.”

2. Understand customer behavior

As important as customer feedback is, customer behavior can speak volumes. That’s where digital analytics platforms such as Amplitude come into play. They offer real-time data about your customers’ journeys through your product and enable you to see what works and what doesn’t.

“Digital analytics has provided a roadmap for growth, offering instant insights we can use to meet customer demand and quickly scale our product,” says Matthew Neff, Chief Product Officer at Snoonu, a food delivery and online shopping platform, that saw 73% percent growth.

Anthony Anderson, VP of Product at HeliosX, the largest vertically integrated network of clinicians and pharmacies, credited digital analytics with making the organization “data-driven” in its decision-making. And that critical ability has enabled the company to make a better product that goes beyond customer expectations. The result? The product grew by 128%.

For teaching-resource subscription Teach Starter, which was acquired by the educational software maker Tes in 2023, the behavioral data it gleaned through digital analytics has meant the ability to improve teacher retention, says Tom Endean, Chief Marketing Officer at Tes.

3. Practice continuous experimentation and iteration

When it comes to rolling out changes or new features, high-growth products don’t wing it. Many of the Next Hottest Products have rigorous and robust experimentation programs.

In the period analyzed in the report, the finserv app Bomapp conducted hundreds of A/B tests on various funnels. “These tests allowed us to refine our service through precise data analysis, which resulted in a 35-fold revenue increase from 2022 to 2023,” observes Bomapp CMO Ryan Hwang.

Likewise, augmented and virtual reality app Immersed locates its ability to beat the competition in its iteration cycle. As CEO and Founder Renji Bijoy notes, “We try to take feedback and implement meaningful changes as fast as possible.” And that has paid off for the product in the form of 174% growth.

AI-powered video creation platform vidIQ takes a sweeping approach to experimentation. “We A/B test everything,” says Head of Product Tony Hui, including the impact of generative AI. (Spoiler alert: It had a positive impact.) Experimentation and analytics, says Tony, have enabled vidIQ to “rapidly improve our product, pinpoint improvements, and deliver more value to creators.”

4. Diversify your growth efforts

The most successful companies know it often takes a multifaceted growth strategy to get ahead of the competition. And the brands in our Next Hottest Products Report are no exception. Interactive sports platform Stadium Live, for example, balances product-led, social-led, and content-led growth.

“We live in an age where both are quite important, especially for our target audience,” observes Founder and CEO Kevin Kim, noting that the company taps in-house personalities to feature alongside content on the social platforms where users spend their time outside Stadium Live.

“By taking this approach, our customer acquisition cost has decreased more than double the past year,” Kevin says. “Aside from the product being shareable, this is the long-term investment we’re making as a business and a brand.”

The result? Stadium Live has seen 172% increase in growth.

Kickstart your growth today

When you consider the high-growth products featured in our Next Hottest Product Report, it’s clear that the right growth strategies matter just as much as good ideas. It’s not surprising that so many of those strategies are built on the fundamentals—understanding your customers to deliver delightful customer experiences.