Conversions are the lifeblood of any SaaS company. Regardless of how much traffic you generate, your business will struggle to grow if your conversion rates are low.
Determining how to optimize your conversion rates can be a challenge. You must experiment with different tactics and constantly test to see what works best for your audience and your business. SaaS products are unique in the way you market and sell them - rather than selling a one-time product; you're selling a subscription that customers will (ideally) pay for month after month.
This means your CRO efforts must be ongoing.
There are several different ways you can optimize your conversion rates. Let's take a look at five of the most effective methods:
Split test your pricing
Pricing makes a big difference in conversion rates. If your pricing is too high, you'll struggle to convert prospects into paying customers. But if your pricing is too low, you might not be able to sustain your business long-term. The best way to determine the optimal price for your SaaS product is to split-test different pricing structures and see what converts best.
For instance, consider offering a discount for annual plans or a free trial period. You might also want to experiment with different pricing tiers to see if prospects are more likely to convert at a certain price point. By split testing your pricing, you can determine the optimal price for your product and boost your conversion rates.
Use an exit-intent pop-up.
An exit-intent pop-up is a form of email capture that appears when a visitor is about to leave your website. This pop-up can be highly effective in boosting conversion rates, as it gives you one last chance to capture the visitor's information before they leave.
There are several ways you can use exit-intent pop-ups to boost conversions, including:
- Offering a discount: You can use an exit-intent pop-up to offer a discount to visitors who are about to leave your site. This can be an effective way to persuade prospects to convert.
- Giving away a free ebook: Another option is to give away a free ebook or other downloadable content. This can be an effective lead generation tactic, as it allows you to capture the visitor's information in exchange for something of value.
- Asking for feedback: You can also use an exit-intent pop-up to ask visitors for their feedback. This can help you understand why people are leaving your site and what you can do to improve your conversion rates.
Utilize social proof
There's nothing more persuasive than social proof. When you see others using and enjoying your product, they are more likely to convert.
Case studies are one of the best forms of social proof. Almost 50% of SaaS companies consider case studies very effective at boosting sales. By sharing detailed case studies on your website, you can show prospects how your product has helped others and persuaded them to convert.
You can also use customer testimonials, reviews, and even social media posts to show off your product in action and boost your conversion rates. These forms of social proof can be especially effective if you display them prominently on your website.
Chat with prospects
When someone visits your website, it's an opportunity to engage them in a conversation and learn more about their needs. This is why live chat can be such an effective tool for boosting conversions. You can answer real-time questions, address concerns, and build relationships with prospects through live chat. This type of interaction can be beneficial in convincing someone to convert.
51% of consumers are more likely to stay with or buy again from a company if they offer live chat support, making it an essential tool for boosting conversion rates. Here are a few tips for using live chat to increase conversions:
- Train your team: Ensure you train your team on using live chat effectively. They should be able to answer questions, address concerns, and build relationships with prospects.
- Be available: Live chat should be available during business hours so that you can engage with prospects in real time. You can also use a chatbot to answer questions outside of business hours.
- Follow up: Follow up with prospects after they chat with you. This can help you build a relationship and keep the conversation going.
Blog about your product
Positioning yourself as an expert in your industry is a great way to boost your conversion rates. And one of the best ways to do this is by writing blog posts about your product.
When you write blog posts, you have the opportunity to share your knowledge and expertise with a broader audience. You can highlight how your product can help solve specific problems and address common pain points. This can be an effective way to position yourself as an authority in your industry and boost conversions.
In addition, blog posts help improve your SEO, which can lead to more traffic and increased conversions. End each blog post with a solid call to action (CTA), so your readers know what to do next.
Working towards optimizing your conversion rates is a never-ending process. However, it's important to continuously test and experiment with different tactics to see what works best for your business.
Kiran is a Canada-based B2B SaaS copywriter who helps companies create content that drives conversions, engagement, and growth. When she’s not writing, you can find her trying yummy foods and taking the next flight to anywhere.