What saas conversion rate benchmarks are considered good?
This is quite urgent as I'm launching apps back to back. I have some paid customers here and there and some OK traffic, but Im not sure what to pursue with more energy. What kind of conversion rates are considered "good" in order to pursue a product more seriously? When I say conversion rates I mean the following:
From landing page to app visit
From app visit to registration
From registration to paid customer
What numbers do you consider good? I haven't managed to find clear answers online.
PS: Im a solopreneur so I have limited resources, I cant be pursuing products that make no sense number-wise.
Cheeeeeers !
Replies
I used to waste time on low-converting funnels. Now I watch sign-up to paid like a hawk.
minimalist phone: creating folders
Rather than conversion rate, have a look at whether that conversion is more expensive than your product. Because if one customer acquisition costs you €20 and he/she buys product for €9, it is not a good deal :D
chatWise
@busmark_w_nika yeah definitely cost of customer acquisition is definitely key. But i think is for the next stage, at first you need to have a significant amount of customers. And then if the costs of acquiring them is high, you can optimize it. if there is no customer to acquire in the first place tho... no fun haha
chatWise
@vladimir_zivkovic thanks. 30% you mean on conversion from landing page to app visit? Or from user to paid user?
If i'm honest I think anything around 3% from people signing up to paying customer is reasonable.
however if we are talking about people who see your product --> paying customer i think 1% is pretty good already.
Its a bit annoying to see people post their huge successes as the reality is they might just have gotten lucky there is no magic formula that works. You can aid your chances of succeeding by making sure that you show your product to the relevant people but that in and off itself is also no guarantee of anything.
chatWise
@andres_vlaeminck makes sense. I had 1% with my latest product, but to be honest, for solopreneur with limited resources, 1% feels extremely low. Like if your pricing is low, and reasonably low, it takes thousands to just get by. So maybe for solopreneurs it could be a different level? I dont know. but yeah i get you, there is no formula.
@cryptosymposium Fully agree its really difficult to get by as a solopreneurs, you can build a product that is better than for chatGPT for example (UI/UX wise) But struggle to get people paying anything. On top of that if you share your hard work online most people are very hostile towards you (ex. reddit, twitter) because the media has portrait tech founders like shovelling money in their bank vaults. We should probably have a founder only social network where VC funded startups are not allowed :D
chatWise
@andres_vlaeminck I would participate a lot in that network my friend haha. Yeah totally agree. it is hard, however it is not impossible. When you dont have many resources the good thing that happens is that you open your radars 24/7 :P
For something really early where you haven't optimized the funnels yet, I would be happy if anyone was converting to paid especially if that was organic. What are your traffic sources?
Generally a 3% conversion rate from visitor to paying user would be pretty good but with cold traffic, even 1% would be worth paying attention to in my opinion. Higher than that would be a very strong signal.