A successful SaaS business requires a great product and brilliant online marketing strategies. Of course, best marketing practices are necessary to succeed in the long term. However, the starting point of online marketing is to reach the maximum number of audiences. Because it doesn't matter how functional your product is; no one will ask for your service, if they don’t know about it.
Generating a high-quality lead is always a concern for any business, and SaaS is no different. Most marketers face this challenge. Remember, no strategy is perfect, but a strategy becomes better with improvisation. Once you have sufficient visitors on the website, some metrics give insight into maximizing website visitors to boost SaaS lead conversion.
That is why it is necessary to look at those metrics that help you improve the components to better the quality of freemiums for your business. Understanding them will help you improve lead conversion.
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The Importance of Website Visitors in SaaS Lead Generation
A month-on-month increase in visitors shows your marketing efforts to drive traffic to your website. If it is increasing, you are in the right direction. But it doesn't give you a vivid picture of free conversion. Whatever medium you use to drive paid visitors to your website. Please make sure that you are using your money effectively. Irrelevant clicks on your website will look good while only reporting. It doesn't make sense.
When acquiring visitors, it is better to focus on the medium and strategy that helps you get the right audience. Consider this: suppose you increase the Google Ads budget, and the number of freemium accounts increases. This is a good thing. However, you must check the Google Ads strategy when the freemiums don't convert. It is evident that there is scope for improvement in your paid marketing strategies.
You do a lot of work to drive visitors to your website, such as search engine optimization, search engine marketing, email marketing, social media marketing, influencer marketing, etc. However, it takes effort. Please focus on getting visitors from your target audience because website visitors are a vanity metric. So, when your effort is to maximize website visitors, you will have to plan many things.
Important Note: Driving traffic to your website is just the first step in boosting SaaS lead conversion and revenue. Focus on optimizing user experience, creating compelling content, and implementing strong calls-to-action to convert visitors into leads and ultimately generate revenue. Consistent analysis and adjustment of your strategies will ensure continued growth and success.
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You should remember that whether you are generating paid or organic visitors, it costs you. Generating organic visitors is not free. Don't fall for what you read on social media. To rank in search engines, you must have quality content on your website. Quality content supported by high-DR websites has an edge in ranking. A good content writer who understands the nuances of SEO and your business will write engaging content. Those writers are costly. Managing a large number of URLs also needs a good server. These things are expensive. So when improving the number of visitors, keep such things in your mind.
Analyzing Visitor to Improve Conversion Rates
M/M growth new sign-ups: You should measure the month-on-month growth of new free accounts. If the number of visitors is increasing monthly, then there should be some growth in free trial accounts monthly. The number of new sign-ups in a month shows that people visiting your website are engaging with it. Remember, a visitor surge is not directly proportional to new sign-up growth. There are multiple reasons behind it. This M/M growth in a free trial shows half the picture. You will have to check the monthly paid upgrade to understand the quality of visitors you are driving on your website.
Calculating the visitor-to-signup conversion rate will help you better understand the month-on-month growth of new sign-ups. You can calculate the conversion rate by dividing the total number of sign-ups by the total number of visitors multiplied by 100. In the image below, I highlighted the background color of the metrics you must look at.
Calculating is necessary because it shows you how proportional your visitors are to the freemium accounts. For example, if you increase your visitors by 100%, not necessarily the visitors-to-signup conversion rate will increase by that percentage. But there must be some significant changes. If it doesn't happen, it is a signal to check the website traffic sources.
Converting Freemium Users to Paid Subscribers
The medium of Freemium accounts should be segregated. Whatever medium you use to drive visitors with the purpose. However, in the image below, I have only kept two conversion mediums, i.e., organic and paid. I have included all the other mediums that don't cost money to generate sign-ups, such as referrals and direct sign-ups. Organic sign-ups from social should be included in these sign-ups in this category.
Paid Free Sign-ups: Creating a PPC campaign is not an arduous task. However, generating quality leads from the campaign is undoubtedly a task. You must be clear with your goal when running a paid campaign and when working on maximizing visitors from paid marketing. A clear goal helps you create a solid strategy. If the purpose is to build brand awareness, you shouldn't expect a return on investment for that particular campaign.
The total number of sign-ups is the number generated from all the mediums. It is better to look for this number in your admin or whatever system you are using to save the contacts of the trial accounts end users create. The strategy for upgrading to paid accounts from free accounts should be concrete.
Optimizing Marketing Activities to Increase Visitor Engagement
Optimizing your activity to increase website visitors needs to be done frequently. You decide whether to change your approach every fortnight or monthly. It is advisable to give your strategy some time before you make significant changes. Consider Google ads; the system takes 5 to 7 days to learn the new bid strategy. Before you implement any plan, giving time to understand the change you will implement is better.
It is essential to use analytics tools to analyze your website. Once you start promoting, remember to add a conversion tracking code. You can use Google Analytics. However, many tools help you determine which medium is converting. Depending on your requirements you can choose it. The average second on the website is an excellent metric to consider when optimizing your campaign. Suppose Google search campaign visitors have more average seconds on the website than social media marketing visitors. You must check the scope of optimization of your social media marketing campaign. However, remember that visitors from all the mediums don't have similar behavior. There will be some gaps.
Best Practices for Sustaining Long-Term Revenue Growth
Most metrics are intertwined. You can't look at one and ignore another. Growth in visitors will undoubtedly impact all the other metrics. In the beginning, you won't get the insight. But as you start working on reporting. You will have the data to give you some meaning in six months. You need to iterate the process to succeed in free lead conversion.
After acquiring a freemium account, it is essential to do things so that they upgrade their account. Lead nurturing is the best you can do. There are many software that will help you nurture leads. For example, Intercom is a conversational software that allows you to create a promotional series to send emails and show chat boxes to your prospects. You can also look for email marketing automation software that will enable you to create drip campaigns. You need to engage with your freemium accounts at different touchpoints to prompt them to upgrade their account.
Use Google Ads to engage your prospects. Create an ad copy showcasing what they are missing because they are not upgrading to the paid account. Create a landing page for such an audience. A similar exercise you can do with social media platforms. You need to engage your prospects and encourage them to upgrade their account.
Offer your prospects a discount after they log in to your business. You can hyper-personalize based on their usage. A SaaS-based business works on a monthly subscription basis. However, you can create an excellent renewal offer on an annual or semi-annual plan.
Controlling customer churn is also essential. However, acquiring a new customer is crucial because you can't reduce customer churn to Zero. So, it would help if you looked for options that maximize website visitors to increase freemiums, further improving revenue generation. There is no straight path to your target revenue.
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