What is your conversion from waitlist to signup (SaaS)?

I rarely join waitlists because when I need a product/service, I want that product/service to be available now. It depends on the service you're offering and whether your potential users are willing to wait. My guess is that the low conversion means they found what they wanted elsewhere.

Is there a single downside to a waitlist? What is the alternative? 20% of 1000 signups is 200 users. Or if you don't have a signup form, you have 0 signups on day 1.

This is a great question, and something I've been wondering since I'm thinking of launching a waitlist myself.

For those with more experience, I'm wondering if you can help answer:

1. How much time should you keep between the waitlist and the product launch? I feel like any more than a month could be counterproductive, but that's just a hunch.
2. How do you keep your interested customers engaged while they wait? Do you need a weekly email or something?

It depends on the wait time and how well are you nurturing during the wait time

~50% tried this product (wait time was 1-2 days) - https://bit.ly/3aTnUMd
~30% tried this product (wait time was 45 days) - https://bit.ly/3HzIE7y

The next time when I do this, I need to play how to nurture the users during the wait time.

I wouldn't say 20% conversion is that low, especially with those who joined the waitlist a long time ago. You have to consider that those people no longer have a need for your service. This is what is misleading about how you judge the effectiveness of waitlists. You're assuming they will still be interested when your service launches. For this reason, I wouldn't worry about the early waitlist coversions.

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:)