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What are some ideas/strategies/plans you used to improve the conversion rate of your product?
If you're a SaaS business owner or a marketer, then I'm more interested in reading your answer.
About us: We offer a freemium plan to our customers that is best-in-class. However, our conversion rate from trial to paid customers is very low. Have you been in a similar situation before? What worked or didn't work for you?
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Alexander Moen
Well, the question is way too broad without enough context to give anything specific. So, I'll give a recommended process:
First, I'm assuming two big things: 1) that you have a way to contact current and former users, and 2) that you have data on each users usage. If you can't do those, then figure out a way to do that immediately.
Put those people into 4 buckets (current low usage, noncurrent low usage, current high usage, noncurrent high usage) and interview multiple people in each bucket. You'll find out a ton that way. Silly things like them not knowing what the premium offer is (or that it existed!) might come up, or perhaps it doesn't deliver on x, y, or z, etc etc.
And, if you don't have enough users willing to talk to you from each of those buckets, you probably haven't gotten enough users in general to come to any statistically significant determinations of what your next moves should be anyways. If that's the case, just keep hustling until you do, interviewing them along the way.
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@alexander_moen Interviewing people is a great idea. We did try it, but as you said, we don't really have a big database of customers. That's why the results have been cold from that approach. But, I will keep these suggestions in mind. Thanks for commenting, Alexander.
@aureliovolle Yes, that's one area where we are constantly working hard to improve ourselves. Thanks for the comment, Aurelio
Freemium SaaS products typically have a conversion rate of 2-3%. Are you in that range?
We are building SaaS and from my experience, improving onboarding and providing 'help' features that guide first time users inside the product help in conversions. The goal is to provide the value/ 'aha moment' in the first 60 sec. i.e. Activation as quickly as possible.
@surender_singh Ummm..sadly, we're not in that range, yet. We're struggling to get past 1%. Our product is very simple to use, but you're right, some improvements in the product help can produce good results. Thanks for sharing your suggestions, Surinder.