Double the Performance of Your SaaS Conversion Funnel
Conversion Optimization for SaaS Start Ups
Are you following a proven framework to maximize conversions across your SaaS funnel?
If not, consider following these six steps to 2X your marketing funnel's output:
1. Break your conversion funnel into a series of micro conversions, or conversion journeys, instead of seeing conversion as a one time event
When it comes to increasing conversions, most SaaS companies focus on top funnel conversions like conversion to trial or demo requests. You can give your SaaS an edge by recognizing that key conversions happen across your entire funnel, not just at the top.
While trials and demo requests are an important step in the user journey, deeper funnel conversion points can be just as big or even bigger levers to increasing growth and revenue. Start by thinking more about optimizing conversion points like:
Conversion to active user
Conversion to value, or the point where users experience your product’s core value a.k.a. your "magic moment" or north star metric
Conversion to SQL
Conversion to paying user
Conversion to repeat customer or retained user
Conversion to referring user or product advocate
Re-activation conversion rate after users have churned
Conversion to higher plan options or up-sells
2. Implement an analytics process that identifies the biggest conversion opportunities in your funnel
Your funnel analytics tools are filled with clues to identifying your biggest conversion boosting opportunities. But most SaaS teams don’t have time to dig beyond their daily metrics to find these clues. Or they don’t have a clear process in place to help them sift through the mountains of data to find the hidden insights that really matter.
Establishing a clear process for 1) what data you should be paying attention to, 2) how often you should be checking it and 3) how to turn that data into actionable insights will ensure you aren’t missing key pieces of data that could lead to major breakthroughs in your conversion rates and growth.
3. Apply a conversion research process to see your funnel from the user's perspective
Every SaaS executive is guilty of subjective bias when they look at their conversion funnel and user journey. It’s one of those unavoidable things about human nature, and it can be one of the biggest stumbling blocks to creating the optimal user journey. That’s why having a conversion research process to help you see the funnel from the user’s perspective is so critical.
Tools like exit surveys, user testing, and mouse tracking will help you bypass your subjective biases and stay plugged into what really matters to your customers. Following a conversion research process will give you a deep understanding of your customer’s desires, habits, perspectives, and pain points. And will help you laser in on the areas of your funnel that are failing to connect with those human needs.
4. Plug data from your analytics and conversion research into a system for prioritizing high probability wins across your funnel
In an age of rapid innovation, constantly evolving growth tactics, and 10 new “hacks” just a blog post away - prioritizing your team resources is harder than ever. To make sure you’re getting the highest ROI on your time and money, you need a prioritization system that cuts through all the noise and gets your team focused on the biggest potential wins.
Try setting up a dashboard that ties all your key conversion research and data into an easy to use project ranking system. This will help your team see at a glance where the biggest growth opportunities are, and which projects have the highest likelihood of success.
5. Use design and messaging frameworks based on psychology and data, instead of imitating the status quo
Designers and copywriters are fantastic assets. They bring fresh, creative ideas to the table. And they help you stay on top of industry trends. Unfortunately, most are not conversion experts. And while their work is driven by creativity, things like persuasion psychology and user data often get overlooked.
Empowering your creative team members with a conversion framework will help focus their creative talent, and produce higher converting customer experiences. Instead of imitating other SaaS companies, you can start crafting a custom tailored experience that will wow and convert your unique audience.
6. Follow a scientific method for testing and validating your conversion hypotheses (and know when to make changes without testing)
When it comes to optimizing conversion rates, controlled experiments like A/B/n and multivariate tests are the gold standard. They will scientifically validate if the changes you want to make to your funnel will help or hurt your KPIs. Making changes without testing, or following a sloppy approach to testing, can lead teams down a slippery slope of plummeting conversions with no clear explanation or fix.
But A/B testing can be a time consuming process, and not every change needs to be tested. Creating a criteria for what types of changes to test, and knowing how to make data driven changes without testing will allow your team to innovate both confidently and rapidly.
Need help applying a framework like this to boost conversions and accelerate your growth?
My Mission to Double Your SaaS Growth Funnel
Hi! I'm Ryan Berg. I've been involved in growing digital start-ups for the past 19 years. I've worn a ton of different hats over that time - conversion copywriter, A/B test manager, PPC optimizer, SEO, growth strategist, UX/UI researcher, data analyst, SDR, partnership manager, marketing director, and a few others.
Now, I'm on a mission to distill all my knowledge and experience into the best approach for doubling your growth funnel's performance. My goal is to double the results of 500 SaaS funnels, and share the principles, frameworks, and tactics I discover along the way with you - in my blog, on my live free training sessions, and through my one-on-one consulting.
I've already helped dozens of digital start-ups grow, founded three digital consultancies, and lost count of the marketing tactics I've seen rise and fall over the last two decades. Join me as I discover and share the best strategies for doubling your funnel's performance in 2018 and beyond.