Improving SaaS conversion rate isn’t a walk in the park; it takes loads of expertise to make your service more reliable, product-oriented, quality-driven, and informative.
SaaS companies have become smart in their offering of services. Not just free trials, they ensure every customer takes value in return for the services provided.
Before heading to the improvement of SaaS conversion rates, we need to get an idea of the ways conversion rate optimization(CRO) for SaaS products differs from normal CRO efforts.
Let’s get started!
How Does CRO For SaaS Products Differ From Normal CRO Efforts?
Any SaaS product or service will have its ups and downs in converting prospects into sales. However, CRO (conversion rate optimization) for SaaS products doesn’t rely on the basic CRO efforts; they’re more advanced.
SaaS products give you a unique touch, assisting you in selling, onboarding, and retention activities that aren’t noticed in major industries.
Why SaaS conversion is so critical?
The ability to convert “free” and “trial” subscribers into a cluster of paying customers, is what makes SaaS CRO a highlight in the market. It is these customers who consistently trust the services of SaaS companies and exhibit a deeper sense of customer loyalty.
The free trial has been so successful that 70% of SaaS businesses have adopted this strategy, helping them upscale their business.
Best ways to improve SaaS Conversion Rate
Let us walk you through some of the most effective ways that can help improve your SaaS conversion rate.
1. Identify eminent touchpoints that matter
Regarding SaaS firms, data is essential for making well-informed and meaningful decisions. Establishing baseline data at each stage of your SaaS customer experience is the first step in enhancing CRO.
First, determine the various stages of your customer’s product journey. Determine which metrics are both measurable and important at each step once you’ve identified them. Prioritize the indicators based on how important they are to your objectives.
Now that you know what you want to track, it’s time to write down these KPIs so you can use analytics to make informed decisions based on the data. Each KPI and statistic suggests a potential area for growth.
2. Lead Scoring and Proper Targeting
Trying to improve CRO with a low-quality or unqualified lead flow is akin to running a race using crutches. You can optimize your landing pages and onboarding process till the cows come home, but it won’t make a difference if you’re not bringing qualified visitors to those sites in the first place.
It’s critical to bring all relevant teams together while working on correct targeting and lead scoring to develop a synergistic workflow and a broad, holistic effort toward the same goals.
3. Encourage Free Users to Become Active Users
The first stage is to get new signups or trial members. Once you’ve gotten them to join up, the next step is to encourage them to become “active users.” After all, if customers don’t care enough to use the free plan, they’ll not only get any value from it but also see no reason to pay for the full version.
It all starts with engaging your members in a way that they expect. Make use of all communication channels available to you, including chat, support tickets, phone, email, webinars, social media, and more.
Identify critical transition points for your subscribers as they go from “testing” to “everyday use,” and devise a strategy to get free users to that point.
Technology is a fantastic thing; take advantage of it. Demonstrate use cases and implementation approaches via demos, onboarding videos, webinars, and other methods to help your newly acquired signups assimilate quickly and effortlessly.
4. Convert Active Users into Paid Users
Getting traffic to your site is not enough. You also need to convert these “free and active” members on your site to your paid customers.
Firstly, we need to attract viewers to your site and get them to subscribe to your product for a free trial. You can tell your customers about the benefits and offers.
Once you have encouraged them to use your SaaS product, you now need to convert them to paid customers. Here’s how you can achieve this:
- The quality of content/services you provide
- Support and assistance
- Ease of converting to a paid user, i.e., use third-party payment apps which are used by most of your customers.
5. Ensure the Subscriber Continues to Avail Services
Receiving an invoice for the following month’s subscription costs is one of the most prevalent reasons for canceling. Each new bill serves as a “reminder” to the client that they are responsible for the payment of a service.
Given the delicate nature of this communication, you have a one-of-a-kind opportunity to add value and remind them WHY they’re paying, as well as the value you bring to the table.
6. Upgrades and Cross-selling
CRO is about developing innovative ways to give new and extended levels of service and value to your existing user base, not only “new” consumers and subscribers.
Cross-selling and up-selling to more robust or feature-rich plans are two ways to accomplish this.
Upgrades and cross-selling don’t have to be complex. With case studies, relevant material, and communication about how your product may give value, you can help your subscribers discover new and exciting ways to use your services.
Encourage consumer input and conduct surveys to find out what products and services they desire and consider offering free or restricted trials of improved service plans or features.
7. Make An Offer That Your Customers Can’t Refuse
It is critical to be mindful of the first impression you create in front of your clients. Your approach should not seem like you are targeting a perfect sales pitch. You need to ensure that your visitors understand the idea of your SaaS services. So, put your heart and soul into the services that you offer, i.e., value and quality.
Give Your Customers Something Which They Can Rely On, Helping Them Trust Your Service
After you’ve piqued their interest by offering them value and benefit, your next goal should be to offer examples of people they have previously worked with.
These are evidence of your service’s dependability and trustworthiness. We refer to them as ‘Social Proofs’ in the digital arena.
But what are these social proofs? Let’s find out!
As many of us love to have testimonials on LinkedIn, the same goes with providing testimonials on a Homepage of a website or any other platform. These testimonials don’t just showcase your quality but also represent your reputation in the long run.
Reviews and Ratings
The reviews section is slightly different from the testimonial part. While the testimonials show what you are good at, reviews and ratings give a brighter picture to your future clients about your services.
Reviews are one of the easiest and most effective ways people can recommend your product or service. It’s not to be avoided by you, as these elements come to the rescue if your testimonials aren’t backed by enough facts or information.
For instance, whether it is a two-star or a three-star rating, it tells your customers about your service in a glance rather than requiring them to read the entire review or testimonial.
9. Provide Navigation And Answer FAQs
Navigation is one of the underrated aspects of providing quality service. Be it SaaS or any other industry, and we tend to forget what proper navigation does to a website. It ensures that the user is engaged with the website, leaving no stone unturned in providing quality information.
As the customer scrolls your website, a few concerns might occur to the person; look for answers for them. You’ll lose your potential clients if you’re not providing any facts supporting your content.
To save you from this mess, you can brainstorm ideas on what doubts your customers can have. List the FAQs on your website, giving your customer the right information.
10. Offer The Best Customer Service
Customer service is essential to a company’s success because it ensures brand loyalty one customer at a time. Each customer needs to be given the right to information, service, product, and communication. These are the factors that a customer looks for while purchasing your products or experiencing your brand value.
Great customer service leads to a satisfied client experience, especially when your support team goes beyond simply reacting to issues and begins to anticipate difficulties.
It’s commonly argued that retaining existing customers is less expensive than finding new ones. It’s no wonder that today’s clients have become prone to getting what they want when they want it and that their expectations have risen in tandem.
When it comes to providing quality services, your customers need to be kept on priority. They are what drives your business to the path of success.
It’s worth noting that each SaaS company has its approach for maximizing sales conversions from free trial users.
However, the above strategies apply to all SaaS businesses and can greatly improve your SaaS conversion rate. Converting prospects into sales is a tedious process.
You’re on a roll if you get into the technical and practical part of attracting clients. If you are looking to get your SaaS product designed, hire an expert SaaS design agency today!
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