Hi everyone- I feel like I have finally cracked getting customers to visit my products website but I am still struggling with the following
- Trial conversion rate: People who created an account but never paid after trial
- Retention: People who paid but cancelled
Has anyone else has been in the same boat? Curious what strategies I can do to help increase both. Thanks in advance
What are some strategies to increase conversion rates & retention?
byu/mumplingssmake inEntrepreneur
Posted by mumplingssmake
5 Comments
Do you have data on why they cancelled?
It’s tough to give a generic answer to this question but you need to first ensure its not a product problem
I suggest implementing a post purchase survey so that you can understand what the paid users like and hate about your product. Once you know what what your customers like and dont like, you can iterate and improve your product to fix these problem to improve these metrics you mentioned.
Now that said, if you are confident its not the product, here are some strategies that we found success in our B2B SAAS
1. **Track activation rate/Aha moment:** Create a metric for successful activate of any user who create an account. If you are a video creation startup, it should something like creating a video and downloading it. Once you have the metric, track it and try to ensure all new users are activated ASAP. There are many tools like Vitally that help with this.
2. **Hone in on ICP:** Bad customers can create negative word of of mouth and reduce NPS. So your goal is truly understand who your ideal customer is and strive to exclusively serve them. You will need to define the ICP and then use it during marketing as well to target them
3. **Educate them:** Educating the customers is an important step to get them activated and let them understand the value we provide. This can be via blogs and email campaigns. You can hire someone off Upwork to create this or use a tools like Wosily or Pulse to automate this using AI today.
Hopefully these help. If you have any further questions, feel free to DM me. I am happy to help other founders 🙂
Retention comes from a good product and good customer service. You have to focus on making your customers feel like they are part of your family and give each one of them the white glove treatment and personal touch instead of blast marketing coz they bought your product.
Focus on also getting feedback and working on delivering the feedback.
Make them feel heard and make them feel part of your journey.
Find a way to celebrate your retained customers.
Net new is a whole different beast and a lot depends on how you have designed your freemium or trail. Feel free to DM me and we can discuss in details.
Congratulations on cracking the website traffic puzzle! Now, for the next level: trial conversion and retention. Here’s a quick tip for each:
1. Trial conversion: Implement an onboarding email sequence that highlights your product’s key benefits and provides easy-to-follow setup instructions. Consider offering a small discount for users who convert before the trial ends.
2. Retention: Set up a feedback loop with your customers. Regularly ask for input and act on it. Also, create a loyalty program that rewards long-term users with exclusive features or perks.
Remember, it’s all about providing value and building relationships. Keep iterating and you’ll see those numbers improve
Congrats on driving traffic to your site. To boost trial conversion and retention, consider enhancing user engagement through a dedicated platform. Push notifications can remind trial users or offer incentives, while personalized features can help retain paying customers. A mobile app could also streamline the user experience and provide valuable data to optimize your service.