Whats a good signup rate on an idea validation landing page?
So usual story right! You have an idea, you want to build micro SAAS, read Indie Hackers and realize you need to validate idea BEFORE building. So that what I did.
but whats a good rate of conversion?
So right now I have ~$10/day spend on Google ads pointing to a super simple landing page with "Coming Soon", some basic benefits and "get notified" email capture.
For the last 4 days its avg. a ~8.5% CTR (136clicks, ~1.6K impr.) and ~17 emails submitted.
Is that good? Should I be optimizing more on spend or the ad creative? What should I be looking to see if I should pull the trigger on building a MVP/MLP?
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Hey! I'm the founder of LaunchList (https://getlaunchlist.com) - a tool that helps manage pre-launch waitlists for products.
I recently conducted a survey with a selected group of users, on average, the waitlist to product registration rate falls between 5-8%. But, there were some users who achieved a conversion rate of over 20%!
The rate of conversion depends on how quickly you can develop your product after receiving validation.
Hey Navneet, thanks for sharing! I was wondering about this because many people signed up in the beta of my product, but then never actually used it after I released it. So it's interesting to know that the waitlist to product registration normally is pretty low
Hi Josh, Indeed, having a waitlist is a great way to validate interest in your product before launch, but getting users to actually register and use the product can be challenging.
In addition to the timing of your launch, it's also important to engage your waitlist users regularly. If there is a long gap between when users sign up for the waitlist and when you launch your product, their excitement and interest may fade away.
One effective way to maintain their interest is by regularly updating them with progress on your product's development. Sending out emails with updates, sneak peeks, and other interesting infomration will help keep them engaged and excited for your product's launch.
A good rule of thumb is to send out an update every 2-4 weeks, depending on how long the gap is between sign-up and launch.
That‘s really valuable information for me, thank you. Will keep this in mind for my next project
You are doing the Lord's work, friend.
I really don't think that is solid validation. I would easily pop my name down if I was curious about the space and happened to stumble on it. But it would not mean the idea is validated.
So if your app is solving a problem you personally experience, that means idea is validated. sorted. Sure you can find another like you. But if you come up with an idea and you would not even use your own app, please go find at least one soul.. to sense-check your idea.
++
The CTR is one thing, "come shop naked" tends to get good clickthrough. Landing page, you selling pencils or airplanes? Who is clicking? What is the ad message? What is the landing page message? What's being sold?
It depends on several factors, such as the industry, target audience, and the type of validation you're seeking. However, as a general rule of thumb, a signup rate of 10% or higher is considered good for an idea validation landing page.
Of course, the higher the signup rate, the better, but it's important to keep in mind that quality is more important than quantity when it comes to validation. You want to make sure that the people signing up are genuinely interested in your idea and are potential customers or users.
To improve your signup rate, consider optimizing your landing page with a clear value proposition, a compelling call-to-action, and social proof such as customer testimonials or endorsements. Additionally, targeted advertising and outreach to relevant communities can help increase your reach and attract the right audience.
Overall, while signup rate is a good indicator of interest, it's important to look beyond the numbers and focus on the quality of feedback and validation you receive.
I haven't done ads but planning to do for Zero To Founder
But based on info, you are doing pretty well if you are doing at 8.5% with 17 emails for $10 spent (assuming its a quality traffic)
It depends... Is it good or not? I would say that really depends on how well targeted your ads are. I would say 8% CTR in general is really good. But if the ad is hyper targeted to the point you would expect every single visitor to sign up, and you got 90% turning it down. Then maybe not...
Another way is to try to model your customer acquisition funnel and how many would drop off during each stage (i.e. you got a clue about CTR and impressions - how many of those would sign up to the service? How many of those would become paying customers?). Consider the Customer Acquisition Cost (CAC) and think about your pricing model and what kind of Lifetime Value (LTV) a user would bring in - and how quickly (i.e. would it take 5 years for a user to be profitable or 5 months).
It is a pretty good exercise to do in general - not only to see if your numbers would "validate enough".
Thanks @stpe for the info. Yes! I should do some of the math on this. Not really tight targeting (in the job hunters niche) so I'm going to say ~8.5-10% is a win.
I haven't decided on a definitive pricing model so I need to plat around with the funnel metrics like you said.
Any good resources for saas funnel metrics would always be appreciated (I'll def be searching IH too :) )
I good start would be to google "pirate metrics" and define the various metrics according to what is applicable for your product.
An 8.5% CTR and 17 emails submitted within 4 days from a simple landing page with a $10/day ad spend seems to be a decent start for idea validation. However, there's always room for improvement. You could experiment with different ad creatives, targeting options, and landing page copy to optimize your conversion rate further.
In terms of deciding whether to proceed with building an MVP/MLP, consider the following factors:
Ultimately, the decision to build an MVP/MLP depends on your confidence in the idea, the quality of leads, and the market demand for your product. Keep testing and optimising your approach until you feel ready to move forward with development.
I wish you good luck and hope to see the MVP in the future. :)
If he wanted a chatGPT response, he would have asked ChatGPT.
Good joke ;)
The data you shared looks good, but for such activities, multiple factors can affect the results.
Another effective approach is to use the waitlist feature on directory websites, where you may receive better responses. On these websites, professionals can provide valuable insights and suggestions about your tool if you're looking to validate your idea.
On the other hand, with paid advertising, people usually come to use the product.
Congratulations on taking the step to validate your idea before building! In terms of a good rate of conversion, it really depends on the industry and the specific product/service you are offering. However, a general rule of thumb is that a conversion rate of 2-5% is considered good.
https://www.egypttourz.com/
Based on your numbers, your landing page is performing quite well with an 8.5% click-through rate and 17 email submissions out of 136 clicks. However, it's important to note that these numbers may not necessarily translate into paying customers once you launch your MVP/MLP.
Before pulling the trigger on building, you may want to consider doing some market research and conducting customer interviews to get a better understanding of your target audience and their needs. This will help you ensure that there is a market for your product and that you are building something that people actually want.
In terms of optimizing your spend and ad creative, you may want to try experimenting with different ad copy, images, and targeting options to see if you can improve your conversion rate. It's also important to make sure that your landing page is optimized for conversions, with clear messaging and a compelling call-to-action.
Overall, while your current numbers are promising, it's important to do more research and testing before investing too much time and resources into building your product.
Hi Brent - curious to hear why you chose to spend the $10/day on Google ads to test your idea. It seems surprising to me that you chose to spend that amount of money on Google ads - was there no other free channel to weigh in on interest? Reason I say that is because ads implies a rather expensive acquisition channel for customers especially early on!
A good sign-up rate on an idea validation landing page can vary greatly depending on various factors such as the target audience, the value proposition, the design and user experience of the landing page, and the marketing channels used to drive traffic to the page. However, as a benchmark, a sign-up rate of 5-10% is considered a good starting point for a well-optimized landing page. It's important to note that even higher sign-up rates can be achieved with continuous optimization and testing.
Is that you ChatGPT?
Hey!
There are many things to do from the top of the funnel to the bottom to decide what are the good or bad conversion rate. For example, targeting the personas that you want to communicate your message will increase the chances of getting a high conversion rate vs if you just target anyone with a broad keyword. But then, you have the conversion point, which in this case is the landing page with the coming soon. If you start from the top you have to analyse, impressions, clicks and conversions and then the rates of each one. With that in mind, try to come up with a hypothesis about your performance and test some ideas. For example, the coming soon communicates with the users that the solution is not done but it will be done sometime in the future. Try something different and don't tell them about the coming soon until they give you the email. Then, explain to them that once the product is ready they will be the first ones. Another idea, Google Ads is targeting broad locations and broad keywords. Try to be narrow on your locations, your days and the keywords.
To be honest, there is not a good conversion rate because each product is different and each marker is different. The higher the pricing and the complexity the lower the conversion rate. But if your product has low pricing and it is for a mass market maybe your conversion rate can be above 3%. That I will say is okay to start. B2B SaaS is from 5%-10% but then here is a huge spectrum from Notion low pricing to Salesforce high pricing and the conversion rate are different and even from channels.
All the best,
I think the CTR % is fine but not a strong validation. You need a bigger data size to derive something more conclusive.
it really depends. if it's a newsletter they're signing up for you should be able to get them to signup without ads. so like you should be able to post on IH or wherever your target hangs out and just naturally get free signups.
on the other hand, if it's people signing up for waitlist for a $100 product then 17 signups is good.
If you have targeted very generic keywords then it's difficult to decide a good sign up rate because you'll inevitably get bot clicks, and clicks from inquisitive people who are just window shopping- so sign up rate will vary widely.
However, if you are getting traffic from very targeted keywords where chances of conversion is high then 1% visitor to signup is a good rate.
I believe a 4% conversion rate is considered to be a good conversion rate
I am not sure about the metrics. Email is definitely a good start. Is there any sort of potential pricing plan on this landing to indicate that these potential users would pay for this application? If you don't have that information any optimization to the creatives would get more people to click and share their email, but wouldn't tell you if you actually have a product that can make money. Are there existing competitors if so, maybe you can use that as a way to gauge that these users would pay. I would also take into account the difficulty of implementing the product. The easier the less outside validation that might be needed since to truly validate something you need a product
Agreed. Email is a good start, then get feedback on price point if possible.
I think depends on the who marketing
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For example It can calculate 12 weeks from today, 7 weeks from today and so on.
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