1000 visitors, 20 signups, 0 conversion. Any tips?
Yesterday was our best day in terms of traffic. 1000 visitors in a day for inbeat.co.
However, we are really struggling with acquiring new paid users. Last month alone, we had 400+ new signups, of which only 5 became new paid users.
The most frustrating part is that I feel we are blind and have no idea how to improve our conversion. We are trying different things, but can't get a conversation going with potential customers to understand why they are not upgrading on the paid plan.
If you have some time to spare and are interested in trying influencer marketing, I would love any feedback on our product, use case, pricing, anything really. Especially negative feedback! You can comment here, DM me on Twitter or send me an email. Thanks a bunch!
Work on the authenticity and popularity of your product in the community. Make sure it is well seen among the relevant audience (have you done your thorough research yet?) on social media platforms. Second, let us know what your product is all about. Maybe you should invest heavily in SEO to make sure your search engine ranking is worth something. However, it is not obligatory - it definitely depends on the type of the service/subscription/product you have (which is why we might need a little bit more details...). Anyhow, you should get those things covered and answered in advance.
In addition, I really believe in the power of personalization, all things considered. It has so much power in appealing to your visitors and making them invested and more engage. This alone has the potential of converting. You don't really need to do any of this on your own, grab a good, reliable personalization tool (I use twik, if that helps), and be on your way. Personalization converts.
I like the idea of a more personnalized experience. We are already asking a lot of questions during the onboarding, but nothing is used to customize your experience. Are you customizing the experience once inside the tool with Twik?
Regarding our perception in the community, we haven't look into it. Maybe the answer lies right there (a.k.a bad reputation). We've seen a steady growth in the search for "inbeat", so still looks like brand recognition is getting somewhere. We'll do a torough research on the matter!
"let us know what your product is all about". Do you mean here or on our website? Was it understandable what we are doing or not really? We think we are crystal clear on the website, but maybe we're really off haha.
Did you create personas?
Sorry for the delay, missed your reply.
We summarized some personas, but never went into full detail. We made the tool with marketing agencies in mind, but looks like our acquisition channel (SEO) acquires mostly B2C, mobile apps or small e-commerce.
We would probably benefit from another acquisition channel and maybe focus more our copywriting towards agencies.
Hi Felix,
You've a lengthy landing page but only on CTA at the top. You need to have multiple CTA atleast 2 more in this page to capture user interaction.
I feel starting package of 80USD per month seems a bit expensive for startups and other smaller businesses. Maybe consider having a smaller package around 25$ per month, instead of 500 make it 150 contact exports, etc.
You say you had 1000 visitors, but only 20 signups. where are you getting these traffic from? Are these your suitable audeince?
Thanks for the feedback!
My thoughts when people say they can't convert:
Thanks for the feedback! What would you replace the Free Trial with? Totally agreeing with social proof + data points. We have none and it must hurt our conversion. Regarding the demo CTA, we will try this. Maybe people are not really interested to invest time in a Meet demo, but maybe they'd like one on their own on Youtube.
Regarding the top influencers page, we are already doing it, thus the high traffic :) However, not sure it attracts the right customers.
also you have a typo in your footer, Resources not Ressources
Can't speak about your conversion problem but with Facebook recently launching their Brand Collabs Manager don't you feel like your product might be in trouble? I imagine TikTok will launch something similar sooner or later.
It is definitely an upcoming competitor but their adoption is still really low since their launch. We personnaly wouldn't use it for our own influencer marketing campaigns, even if inBeat didn't exist. Need to keep them in our sight though :)
I would really encourage you to get rid of the free trial. Campaign based activity doesn't always lend itself to recurring revenue models. So if I'm a marketer, I might be running an influencer campaign as a test this month and never again, in which case I might get everything I need from your trial.
Try a free tier, get people into your platform to see the value and feature gate the key feature to unlocking it. (e.g. build your lists, but if you want to export move to a paid plan)
We did something similar and it nearly doubled our conversion rate.
Thanks for the feedback. We initially tried the Free Plan (4-5 months ago), but felt our users were never compelled to upgrade. We were scared our Free Plan gets abused (since we're mostly a database service) so the database results were limited (only the first 10 results). It was hard to show the power of the product and also most users were not coming back anyways.
I would definitely try the Free Plan again, but we need a better strategy to show the value of our paid plan, since they are not limited in time like for the Free Trial. I feel the user can never reach their Ah-ha moments on our Free Plan. Would you mind sharing your product so that I can have a look?
Separate thought on database abuse - do you know what your product's retention stats were for that Free Plan period?
If people were signing up and using the product for only 1 week or less, this would indicate or reinforce what you know about the conversion problem.
On the other hand, if people continually used the free version for months without paying, this is probably the better bucket to be in! From here, you can modify a future Free Plan for better success.
Unfortunately, we are in the first bucket. Maybe 2-3% of Free Users kept coming. We have almost no users from the Free Plan on the platform right now. I feel maybe they just signed up to see something and don't really see a use for the platform. They could only be noise in our signups.
That is OK! It's definitely frustrating though when retention is that low. We certainly have experienced it with our game and games should be easy to get good stats with!
I would try and learn what these users were looking for - you want to be sure. You've got to do some user research here to understand what's going on and what your failure points are.
This could be done by (a) reaching out to them directly, if you are able, or (b) including some type of integrated flow in the beginning of your product that makes them choose some presets like "I want to find influencers for Plants" etc.
Of course there is (c) if you have analytics set up for it already - what are people actually looking at once they are in your product. What types of searches do they do, what are the last things they click on/screens they see before leaving, etc.
We already have 5-6 questions on account creation, but they are more focus towards knowing the customer vs its purpose. I'll try and rework the onboarding to see if we can learn more on what they are looking for. Unfortunately, outreaching is not working: we have a 0% response rate. lol. Better get their attention the one time they are in our product.
Regarding product analytics, we don't have much setup but I'll setup tracking for how many users created their first campaign + added their first influencers. And then determine who are these users and why they don't upgrade. We definitely need to look more into our users behavior inside the platform and less talking to them outside the platform.
Thanks for all your insights!
No problem! Happy to help : )
If direct outreach isn't working, don't sweat it. I'm not an expert in that area by any means but it just seems hard haha.
Good luck on the tracking results!
Also, I just noticed you have a great blog with a ton of articles. Your 1000 visitors easily could have been mostly from this research instead of looking for a tool (which is fine!)
Do you have Google Search Console and Google Analytics set up? Would be very helpful to see which articles people are finding, searching for, and then if those are the people signing up for your trial.
One system you seem to be missing is a mailing list, unless I'm missing it. Since you have a blog, you could ask people to sign up to your mailing list mid-way through articles and at the end. Buffer is a good example, though they only put a signup in certain places: https://buffer.com/resources/
Then you can email subscribers new blog posts. You could even plug your product in the email, or maybe it's enough if they just come back to your blog.
Getting their emails also lets you set up a welcome email that asks them "What are your needs/why did you sign up?"
Have you tried limiting your Free Plan in another way besides search volume?
For example, hiding certain stats like Avg. Monthly Engagements or Video Completion Rate might entice users to upgrade. You could continue to show Avg. Impressions, Follower Count, and other basic stats to all users.
This method might show users the full search capability of your product while giving them enough value to become interested. But they will need to pay to learn the most important insights.
We didn't try it but I like this idea. Some of our competitors do it. Less restriction on the number of results, but more restriction on what is accessible for each results. Maybe we could hide the posts previews from Free Users.
Nice, I'm glad that could help. Definitely copy competitors if it is relatively easy to do - you can even A/B test this if that is simple to do in your framework.
This sounds like a good starting spot, but I think it sounds like you need to understand what exactly made your users sign up to the free version in the first place. See other comment thread : )
What would happen if you made none of it free? Might be worth an experiment considering the risk is low based on your conversions now.
Thanks for the feedback. We never tried it. I thought about a "30-day money back guarantee" + a ungated access to our database showing just 4-5 results. That's what influencegrid.com is doing. I feel likes users will not pay before they can see at least what they can expect from our DB, but it would be an interesting try to force their leap of faith!