What is your average conversation rate for a SaaS Product?
Aurelio
9 replies
Hey there,
I just wonder what is your average conversion rate for SaaS product?
I define conversion rate as sale after subscription (ie: after 14 days trial)
Where do you stand?
Thx!
Replies
James Gill@jamesjgill
Hi Aurelio! This guide from Patrick McKenzie may be of value – he lists out some rough benchmarks for SaaS conversion in it: https://stripe.com/gb/atlas/guid...
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@jamesjgill thank you so much!
@jamesjgill Thanks for sharing
The first version of my SaaS started with about 40% conversion rate.
I tried a bunch of things like
- adding a longer free trial to see better results,
- having a 101 talk 3 days prior to end of trial
- + many other tweaks
Conversion rate in now at 65% which I'm satisfied with but can definitively be improved.
I'm currently adding metered usage billing and I forecast this feature to increase rate up to 80% - will keep you posted :)
Completely depends on the product and the immediate preceding step. If you market it to the right audience with proper onboarding, then something as high as 25% is possible, otherwise usually under 10% as companies are broad with their user acquisition and don't pay sufficient attention to onboarding.
I've heard of something like 5% is average for bot-chat editor.
we have 7%
Our average conversation rate for our SaaS product has been steadily increasing and currently stands at an impressive 15%, indicating strong user engagement and conversion.