April 2023 - Page 2 of 3 -

How to Improve The Rates of Product Adoption

April 22, 2023April 14, 2023 Shashank

In today’s highly competitive market, product adoption is critical for the success of any business. Product adoption is the process of customers using a new product or service, and it is a key factor in determining the success of any business. A high rate of product adoption can lead to increased revenue, customer loyalty, and market share. However, it can be challenging to achieve high rates of product adoption, especially in a crowded market. In this article, we will explore some strategies that businesses can use to improve the rates of product adoption.

Identify the target audience:

One of the most important factors in improving the rate of product adoption is identifying the target audience. Knowing the target audience will help you develop a product that meets their specific needs and preferences. Conducting market research, surveys, and focus groups can help you identify your target audience, and understand their motivations, preferences, and behaviors. This information will help you tailor your product to the needs and preferences of your target audience, which will increase the chances of adoption.

Simplify the onboarding process:

The onboarding process is critical in ensuring that customers are able to use the product effectively. A complicated onboarding process can deter potential customers, and result in a low rate of product adoption. To improve the rate of product adoption, businesses should simplify the onboarding process, and make it as user-friendly as possible. Providing clear instructions, tutorials, and online help can help customers navigate the product easily and effectively.

Offer incentives:

Offering incentives can be a powerful way to encourage customers to adopt a new product. Businesses can offer incentives such as discounts, free trials, or exclusive access to new features to encourage customers to try the product. These incentives can help customers overcome any initial skepticism or uncertainty, and encourage them to give the product a chance. Offering incentives can also help businesses build customer loyalty, and increase customer retention rates.

Leverage social proof:

Social proof is the idea that people are more likely to adopt a product if they see that others are using it. Businesses can leverage social proof by highlighting positive reviews, customer testimonials, or social media mentions of their product. This can help build credibility and trust with potential customers, and increase the rate of product adoption.

Focus on user experience:

A positive user experience is critical in driving product adoption. Businesses should focus on creating a product that is easy to use, intuitive, and visually appealing. Conducting user testing and gathering feedback from customers can help businesses identify areas of the product that need improvement, and make necessary changes to improve the user experience.

Provide excellent customer support:

Providing excellent customer support is another important factor in improving the rate of product adoption. Customers want to know that they can receive help and support when they need it. Providing multiple channels of support, such as email, chat, or phone support, can help customers get the help they need quickly and easily. Businesses should also ensure that their support team is knowledgeable, friendly, and responsive to customer inquiries.

Continuously iterate and improve:

Product adoption is not a one-time event, but a continuous process. Businesses should continuously iterate and improve their product based on customer feedback and changing market trends. By keeping up with customer needs and preferences, businesses can stay ahead of the competition, and maintain high rates of product adoption over time.

Conclusion:

Improving the rate of product adoption is critical for the success of any business. By identifying the target audience, simplifying the onboarding process, offering incentives, leveraging social proof, focusing on user experience, providing excellent customer support, and continuously iterating and improving, businesses can increase the chances of product adoption. These strategies can help businesses build customer loyalty, increase revenue, and gain a competitive edge in the market.

Customer Discovery Questions That You Must Know About!

April 21, 2023April 14, 2023 Shashank

Customer discovery is a process of learning about your target customers, their needs, pain points, and preferences. By conducting customer discovery interviews or surveys, you can gain valuable insights into what motivates your customers, what challenges they face, and how you can better meet their needs.

Here are some example questions you can use in your customer discovery process:

What is your biggest challenge in relation to [your product/service]?
Can you walk me through your typical day? Where does [your product/service] fit into your daily routine?
What made you interested in [your product/service] in the first place?
What would make you choose [your product/service] over a competitor’s product/service?
How do you currently address the problem that [your product/service] solves?
How much are you willing to pay for [your product/service]?
Can you tell me about a time when you tried a similar product/service? What did you like and dislike about it?
Have you recommended [your product/service] to anyone else? If so, why did you recommend it?
Can you describe your experience with [a specific feature of your product/service]?
How would you describe our product/service to someone else?

These questions can help you gain a deeper understanding of your customers, their needs, and preferences. When conducting customer discovery interviews, it’s important to actively listen and ask follow-up questions to clarify and expand on the customer’s responses.

In addition to these questions, you may also want to consider asking questions about your target customers’ demographics, psychographics, and behavior patterns. This can help you create a more accurate and detailed customer profile, which can inform your product development, marketing strategy, and customer acquisition efforts.

Overall, customer discovery is a critical part of building a successful business. By asking the right questions and actively listening to your target customers, you can gain valuable insights into their needs and preferences, and use this information to create products and services that truly meet their needs.

Proving Your Worth: Leveraging Testimonials for Early Startup Traction

April 20, 2023April 14, 2023 Shashank

As a startup founder, building trust and credibility with potential customers can be a challenging task. One of the most effective ways to establish your brand’s credibility is by leveraging testimonials from satisfied customers. Testimonials not only provide social proof, but they also help potential customers to feel more confident in their decision to do business with you. In this article, we’ll explore the power of testimonials, the benefits of using them in your marketing, and provide you with real-life examples and references to key studies.

The Power of Testimonials

Testimonials are a powerful tool in the world of marketing. They provide social proof and help to establish trust with potential customers. According to a study by BrightLocal, 91% of consumers read online reviews before making a purchase decision. In the same study, 84% of consumers said that they trust online reviews as much as a personal recommendation from someone they know. This shows just how important testimonials can be in the decision-making process.

Testimonials also help to address common objections or concerns that potential customers may have. For example, if your product or service is relatively new or unknown, potential customers may be hesitant to take a chance on it. Testimonials from satisfied customers who have had positive experiences with your brand can help to alleviate those concerns.

Benefits of Using Testimonials in Your Marketing

There are several benefits to using testimonials in your marketing efforts:

Builds Trust and Credibility: Testimonials help to establish trust and credibility with potential customers, which is especially important for early-stage startups.
Provides Social Proof: Testimonials provide social proof, which can be a powerful motivator for potential customers.
Addresses Concerns and Objections: Testimonials can help to address common concerns and objections that potential customers may have, such as whether your product or service is reliable or effective.
Enhances SEO: Testimonials can also help to enhance your search engine optimization efforts by providing fresh content for your website.

A study conducted by Nielsen found that 92% of consumers trust recommendations from friends and family above all other forms of advertising. Another study by BrightLocal found that 74% of consumers say that positive reviews make them trust a local business more. Yet another study by Spiegel Research Center found that displaying reviews can increase conversion rates by up to 270%.

Real-Life Examples

Let’s take a look at some real-life examples of startups that have successfully leveraged testimonials to drive early traction:

Airbnb: Airbnb is a prime example of a startup that has leveraged testimonials to build trust and credibility with potential customers. Their website is filled with testimonials from satisfied hosts and guests, which help to establish their brand as a reliable and trustworthy option for accommodations.
Slack: Slack is another startup that has effectively used testimonials to drive early traction. They prominently feature customer testimonials on their website, which not only provide social proof but also help to address common objections that potential customers may have.
Dropbox: Dropbox is yet another example of a startup that has effectively used testimonials to build credibility and trust with potential customers. Their website features numerous customer testimonials that highlight the benefits of using their service, such as increased productivity and ease of use.

Leveraging testimonials is a powerful way to establish trust and credibility with potential customers, especially for early-stage startups.

From Self to Others: How Non-Self Centered “Why” of Your Side Project Fosters Empathy

April 19, 2023January 12, 2024 Shashank

Starting a side project is an exciting and fulfilling journey. You have an idea that you’re passionate about and want to make it a reality. However, it’s easy to get caught up in your own self-interest, such as the desire for financial gain or personal recognition, and lose sight of the bigger picture.

In this article, we explore how a non-self centered “why” of your side project can foster empathy and help you to connect with your audience on a deeper level. By focusing on the needs and desires of others, you can create a project that truly resonates with your target audience and builds a loyal following.

Here are some key ways that a non-self centered “why” of your side project can foster empathy:

Understanding: By focusing on the needs and desires of your target audience, you can gain a deeper understanding of their perspective and experiences. This understanding can help you to create a project that truly meets their needs and resonates with them on an emotional level.
Connection: When you create a project that speaks to the needs and desires of your target audience, you can foster a sense of connection and community. This connection can help you to build a loyal following and generate word-of-mouth promotion.
Impact: By creating a project that benefits others, you can make a positive impact on society. This impact can help you to create a legacy that extends beyond yourself and makes a difference in the world.
Empathy: Ultimately, a non-self centered “why” of your side project can foster empathy. By focusing on the needs and desires of others, you can develop a deeper sense of empathy and understanding towards them. This empathy can help you to create a more meaningful and impactful project.

To embrace a non-self centered “why” of your side project, start by asking yourself some key questions:

Who is my target audience, and what are their needs and desires?
How can I create something that truly meets their needs and benefits them?
How can I foster a sense of connection and community around my project?
How can I make a positive impact on society through my project?

By answering these questions and focusing on a non-self centered “why” for your side project, you can foster empathy and make a positive impact on the world. So take the first step towards creating a project that truly resonates with your audience and makes a difference in the world today.

Target Locked: Strategies to Get in Front of Your Ideal Customers

April 19, 2023September 25, 2023 Shashank

As a side project or new startup, one of the biggest challenges you’ll face is finding and reaching your ideal customers. Without a solid strategy to get in front of the right people, your business may struggle to gain traction and grow.

Fortunately, there are several effective strategies you can use to get in front of your ideal customers and start generating interest in your product or service. In this article, we’ll explore some of these strategies and provide you with actionable tips on how to implement them.

The question of “Who is your ideal customer?” may seem overwhelming, but defining your ideal customer is crucial to everything that follows. To help you define your ideal customer, check out the Ideal Customer Profile Framework provided in the link. If you do not know your ideal customer, then it will be difficult, if not impossible, to proceed from this point. Once you have defined your ideal customer’s demographics, psychographics, and characteristics, you can seek out more people or companies that fit your template. Your ideal customers can include your current customers (although not all your customers may be ideal), unconverted prospects, or even customers of your competitors.

Start with your current customers

Your current customers are a valuable source of information for identifying your ideal customer. You can gather data on their age, gender, location, occupation, income, and other demographics through surveys, email, phone, or chat. Additionally, you can ask for feedback on your products or services, and what they like or dislike about them. This can help you identify areas for improvement or new product development.

Some examples of startups that leveraged talking with their current users to define their ideal customers:

Slack – Slack initially launched as an internal communication tool for the gaming company Tiny Speck, but the founders realized that it had broader potential after seeing how much their users loved it. They then talked to more potential users to understand their needs and refined their ideal customer profile.
Dropbox – Dropbox started by targeting individuals who wanted an easy way to store and share files, but after talking with their current users, they realized that businesses could also benefit from their product. They then shifted their focus to target small and medium-sized businesses.
Airbnb – Airbnb founders talked with their early adopters and learned that they were using the platform to find unique and affordable accommodations when traveling for events, such as conferences and festivals. They then refined their ideal customer profile to target this group.
Stripe – Stripe founders initially targeted developers who were frustrated with existing payment processing solutions. They then talked with their current users and discovered that many of them were startups who needed a simple and flexible payment system. They then refined their ideal customer profile to target this group.
Intercom – Intercom founders initially targeted software companies who were struggling with customer communication, but after talking with their current users, they realized that other types of businesses could also benefit from their product. They then refined their ideal customer profile to target small and medium-sized businesses in a variety of industries.
Zoom – Zoom founders talked with their current users and learned that many of them were using the platform for remote work and online education. They then refined their ideal customer profile to target businesses and schools that needed a reliable and easy-to-use video conferencing solution.
Hubspot – Hubspot founders initially targeted small businesses who wanted to improve their online marketing, but after talking with their current users, they realized that larger companies could also benefit from their product. They then refined their ideal customer profile to target mid-sized companies in a variety of industries.
Canva – Canva founders talked with their current users and learned that many of them were small business owners and social media marketers who needed an easy and affordable way to create high-quality graphics. They then refined their ideal customer profile to target this group.
Calm – Calm founders talked with their early adopters and learned that many of them were looking for a way to reduce stress and anxiety. They then refined their ideal customer profile to target people who wanted to improve their mental health and wellbeing.
Headspace – Headspace founders talked with their early adopters and learned that many of them were looking for a way to learn meditation and improve their mental health. They then refined their ideal customer profile to target people who wanted to learn mindfulness and meditation.

Conduct industry-level research and surveys

Industry-level research and surveys can provide a wealth of information on your target audience. You can gather data on market trends, consumer behavior, and preferences, which can help you identify potential areas for growth or improvement.

Many early-stage startups use industry-level research and surveys to better understand their target audience and market. Here are a few examples:

HubbleHQ: HubbleHQ is a London-based startup that helps businesses find office space. The company conducted a survey of over 1,000 UK office workers to understand their preferences and priorities when it comes to workplace amenities, such as bike storage, showers, and communal spaces.
Clearbanc: Clearbanc is a fintech startup that provides funding to ecommerce businesses. To better understand the market, the company conducted a survey of over 1,200 ecommerce businesses to learn about their funding needs, revenue streams, and growth plans.
UserTesting: UserTesting is a platform that allows companies to get feedback from real users on their websites and apps. To better understand the user experience (UX) design market, the company conducted a survey of over 1,200 UX professionals to learn about their roles, responsibilities, and challenges.
Hims: Hims is a direct-to-consumer healthcare startup that offers products for hair loss, erectile dysfunction, and other issues. To better understand its target market, the company conducted a survey of over 1,000 men to learn about their attitudes towards healthcare and their willingness to try new products.
GrubMarket: GrubMarket is a San Francisco-based startup that connects consumers with local farmers and food producers. To better understand the market for sustainable food, the company conducted a survey of over 2,000 US consumers to learn about their attitudes towards organic and locally-sourced food, as well as their buying habits.

Look at cancelled customers and free trials that didn’t convert

Cancelled customers and free trials that didn’t convert can provide valuable insights into why people may not be interested in your products or services. You can conduct exit surveys or ask for feedback to understand what didn’t work for them and why. Some real-world examples of how analyzing cancelled customers and free trials can help businesses better understand their customers:

Netflix: When Netflix started offering streaming video, they provided a free trial to attract new customers. However, many of these free trial users didn’t convert to paying customers. By analyzing their behavior, Netflix found that some users weren’t sure how to use the service or were overwhelmed by the large selection of movies and TV shows. To address this, Netflix started offering personalized recommendations based on users’ viewing history, making it easier for users to find content they were interested in.
Spotify: Spotify allows users to sign up for a free trial of its premium service, but many users don’t convert to paying customers after the trial period ends. To better understand why, Spotify analyzed the behavior of users who cancelled their subscriptions. They found that many users cancelled because they didn’t understand the value of the premium service or didn’t use it enough to justify the cost. To address this, Spotify started offering more personalized recommendations and highlighting exclusive content that was only available to premium users.
Blue Apron: Blue Apron is a meal delivery service that offers a free trial to new customers. However, many users who signed up for the trial cancelled their subscription after the first week. By analyzing their behavior, Blue Apron found that many users were overwhelmed by the amount of work required to prepare the meals. To address this, Blue Apron started offering more pre-prepared ingredients and simplified recipes, making it easier for users to cook their meals.

In each of these examples, analyzing cancelled customers and free trials helped these companies better understand their customers’ needs and preferences, leading to improvements in their products and services.

Talk to non-customers

Talking to non-customers can help you get a wider perspective on your target audience. You can gather data on why they haven’t bought from you, what their needs and preferences are, and what they’re looking for in a product or service.

Talking to non-customers can provide valuable insights into why they haven’t purchased from you and what they are looking for in a product or service. Here are some real-world examples of how businesses have gained valuable insights from talking to non-customers:

Dropbox: When Dropbox first launched, the company’s founders were having trouble getting traction with their product. They decided to talk to people who had signed up for the service but had never used it. Through these conversations, they discovered that many people were hesitant to use Dropbox because they were concerned about the security of their data. Based on this feedback, Dropbox improved their security features and were eventually able to gain a larger customer base.
Airbnb: When Airbnb first started, the company’s founders were struggling to get people to trust the idea of renting out their homes to strangers. They decided to talk to people who had signed up for the service but had never booked a stay. Through these conversations, they discovered that people were hesitant to use Airbnb because they were concerned about the safety of their homes. Based on this feedback, Airbnb improved their verification and insurance policies, and were eventually able to gain more trust and customers.
Slack: When Slack was first launched, the founders were having trouble getting traction with their product. They decided to talk to people who had signed up for the service but had never used it. Through these conversations, they discovered that people were hesitant to use Slack because they were concerned about the amount of time it would take to set up and learn how to use the platform. Based on this feedback, Slack improved their onboarding process and were eventually able to gain a larger customer base.

These examples show how talking to non-customers can help businesses gain valuable insights into why they may not be attracting customers and what they can do to improve their product or service. By listening to feedback and making changes based on that feedback, businesses can improve their chances of success and attract more customers.

Look for customers of your competitors

Customers of your competitors can provide valuable insights into their product selection process, decision-making criteria, and trusted sources. You can find them by looking for testimonials and case studies on your competitor’s site, LinkedIn profiles and groups, product certifications, tweets, oDesk profiles, or Facebook. During these conversations, ask about other competitors they may have evaluated and why they chose the one they did, who else they trust in the industry, what blogs they read, if they bought direct or through a distributor/VAR/app store, and so on.

Here are some real-life examples of how companies have gained insights by talking to customers of their competitors:

HubSpot: HubSpot, a marketing automation company, wanted to understand how its competitors were positioning themselves in the market. They reached out to customers of its competitors, specifically those who had recently switched from HubSpot to a competitor, and conducted interviews to gain insights into what factors led to the switch. HubSpot discovered that price was a major factor, and as a result, they decided to introduce a lower-priced tier for their product.
Salesforce: Salesforce, a customer relationship management (CRM) software company, wanted to understand how its customers were using its product compared to its competitors. They conducted interviews with customers of their competitors and found that their customers preferred Salesforce’s user interface and ease of use. This led Salesforce to make changes to their product to further improve the user experience.
Dropbox: Dropbox, a cloud storage company, wanted to understand why some customers were choosing competitors over their product. They reached out to customers of their competitors and found that many customers were choosing competitors because of better integration with other software applications. This led Dropbox to invest in developing integrations with popular software applications to improve their product offering.

By talking to customers of your competitors, you can gain insights into what your competitors are doing well and where they fall short. This can help you identify areas where you can differentiate yourself from your competitors and improve your product or service to better meet the needs of your target audience.

Why Minimum Viable Products (MVPs) often Fail

April 18, 2023September 25, 2023 Shashank

Minimum Viable Products (MVPs) can often fail when they don’t take into account the desired customer outcome, including the customer goal, appropriate experience, and pain point it solves.

One common mistake that leads to MVP failure is focusing too much on the product itself and not enough on the customer’s needs and desired outcome. An MVP that is built solely based on the product’s features and functions without considering how it addresses the customer’s goals and pain points is unlikely to be successful.

Another mistake is not properly testing the MVP with target customers. An MVP that is not validated by the target customers may fail to address their desired outcomes and pain points, leading to low adoption rates and low customer satisfaction.

A third mistake is not incorporating the appropriate experience into the MVP. The customer’s experience with the product is just as important as the product itself. An MVP that is difficult to use or does not provide a positive customer experience will fail to meet the desired outcome, regardless of how well it addresses the customer’s goals and pain points.

Finally, MVPs can fail when they don’t properly address the customer’s pain points. If the MVP does not solve a significant pain point for the customer, they may not see the value in using the product, leading to low adoption rates and high churn rates.

To avoid these pitfalls, startups should focus on understanding their target customers’ desired outcomes and pain points, and build MVPs that address those needs while incorporating the appropriate experience. Testing and validating the MVP with target customers can help ensure that the product meets their desired outcome and provides value. By taking a customer-centric approach to building MVPs, startups can increase their chances of success and achieve early traction in the market.

Here are 5 examples of real-world companies that failed to meet their target customer goals with their minimum viable products:

Color Labs: Color Labs was a social networking app that aimed to bring together photos, videos, and text from various social media platforms in one place. However, it failed to meet the target customer goal of providing a user-friendly interface, leading to poor user engagement and ultimately the failure of the app.
Juicero: Juicero was a startup that created a juicing machine that used pre-packaged juice packets. However, the product failed to meet the target customer goal of convenience, as the machine required a Wi-Fi connection to function and the juice packets were found to be easily squeezed by hand, making the machine unnecessary.
Homejoy: Homejoy was a startup that provided on-demand cleaning and home services. Despite raising over $40 million in funding, the company failed to meet the target customer goal of quality, as customers complained about poor service and inconsistent results.
Kano: Kano was a startup that created DIY computer kits aimed at children. The company failed to meet the target customer goal of ease of use, as the kits were found to be overly complicated and difficult to assemble.
Tilt: Tilt was a social payment app that aimed to make it easy for groups to collect and track money. However, the product failed to meet the target customer goal of security, as the app was found to have vulnerabilities that could be exploited by hackers.

And, here are five real-world examples of MVPs that failed to provide an appropriate experience for the target customer:

Juicero: Juicero was a startup that produced a juicing machine that was supposed to revolutionize the way people made juice at home. However, the machine was extremely expensive, and the juice packs that were required to use it were also very costly. In addition, customers found that they could get the same quality of juice by simply squeezing the juice packs by hand, without the need for the expensive machine.
Color Genomics: Color Genomics was a startup that offered genetic testing services to customers. The company’s MVP was a kit that customers could use to collect a saliva sample, which was then sent to the company for analysis. However, customers reported that the process of collecting the sample was difficult and uncomfortable, leading to a poor user experience.
Teforia: Teforia was a startup that produced a high-end tea-brewing machine. However, the machine was very expensive, and customers found that they could get the same quality of tea by simply brewing it in a traditional tea pot. In addition, the machine was difficult to clean, which also detracted from the user experience.
Lily Robotics: Lily Robotics was a startup that produced a drone that was designed to follow its owner around and capture video footage. However, the company’s MVP was plagued by technical issues, and customers reported that the drone was difficult to control and prone to crashing. In addition, the price of the drone was very high, which made it difficult for many potential customers to justify the cost.
Leap Motion: Leap Motion was a startup that produced a device that allowed users to control their computers with hand gestures. However, customers found that the device was not very accurate, and the user experience was frustrating. In addition, the device required special software to be installed on the user’s computer, which made it difficult to use for many potential customers.

Finally, here are 5 examples of real-world startups whose MVPs failed to address the target customer pain points:

Juicero: Juicero was a startup that created a $400 juicer that required proprietary juice packets. However, the company failed to recognize that customers were more interested in convenience and affordability, rather than expensive, high-tech juicing machines. The company ultimately shut down in 2017.
Dinner Lab: Dinner Lab was a startup that aimed to revolutionize the dining experience by hosting pop-up dinners in unique locations. However, the company failed to recognize that customers were more interested in consistent, high-quality food and service rather than unique locations. The company filed for bankruptcy in 2016.
Tilt: Tilt was a startup that aimed to make group payments easier by allowing users to pool money for events or gifts. However, the company failed to recognize that customers were more interested in security and privacy of their financial information. The company was acquired by Airbnb in 2017.
Secret: Secret was a startup that created an anonymous messaging app where users could share secrets with their contacts. However, the company failed to recognize that customers were more interested in positive and supportive social interactions rather than anonymous gossip. The company shut down in 2015.
Yik Yak: Yik Yak was a startup that created an anonymous social media app for college students. However, the company failed to recognize that customers were more interested in positive social interactions and community building, rather than anonymous posting. The company shut down in 2017.

Why Customers Ghost You: Understanding the Reasons Behind Customer Disengagement

April 17, 2023April 14, 2023 Shashank

Ghosting in customer engagement is a common issue that businesses face. It can be frustrating and even disheartening to put in a lot of effort to engage with customers only to receive no response. However, it is important to approach this issue with empathy and a willingness to understand the reasons behind the ghosting.

As mentioned earlier, there can be several reasons why a customer may ghost your business. One common reason is feeling overwhelmed or underwhelmed by your product or service. This can be due to several factors, such as a lack of personalization, confusing user interface, or poor customer service. In such cases, it is important to review your product or service and identify areas of improvement. By addressing these issues, you can create a better experience for your customers and reduce the likelihood of ghosting.

Another reason for ghosting can be disappointment with your product or service. This can happen when customers have high expectations but are let down by your offering. In such cases, it is important to acknowledge the customer’s disappointment and work towards finding a solution that meets their needs. This can involve offering a refund, providing additional support or resources, or making changes to your product or service to better align with their expectations.

Shame can also be a reason why customers ghost businesses. For example, if a customer has fallen behind on their payments or has not used your service for a while, they may feel embarrassed or ashamed to reach out. In such cases, it is important to approach the customer with empathy and understanding. You can offer flexible payment options or provide resources to help them get back on track. By doing so, you can show the customer that you care about their well-being and are willing to support them.

Lastly, busy schedules can also lead to ghosting. Customers may not have the time or energy to engage with your business, even if they have a legitimate reason to do so. In such cases, it is important to respect their time and provide options for asynchronous communication. This can involve offering self-service resources, such as FAQs or knowledge bases, or providing options to schedule appointments or calls at a time that is convenient for the customer.

To effectively tackle the issue of ghosting, it is important to identify the root cause and provide personalized solutions. This requires a deep understanding of your customer’s preferences, needs, and behavior. One way to gather this information is by conducting customer surveys or interviews. You can also use data analytics to track customer behavior and engagement with your product or service. By leveraging this information, you can create a more personalized and effective customer engagement strategy.

When attempting to un-ghost customers, it is important to approach them with empathy and understanding. Avoid using language that is accusatory or confrontational. Instead, use language that is supportive and encourages the customer to engage with your business. For example, you can offer resources or incentives that align with their needs or preferences.

It is also important to consider the customer’s preferred communication channel. Some customers may prefer email, while others may prefer phone or chat. By providing options for communication, you can reduce the likelihood of ghosting and create a more positive experience for your customers.

In conclusion, ghosting in customer engagement can be a frustrating issue for businesses. However, by understanding the reasons behind ghosting and providing personalized solutions, businesses can reduce the likelihood of ghosting and strengthen their relationship with customers. It is important to approach customers with empathy and understanding and provide options for asynchronous communication. By doing so, businesses can create a positive and effective customer engagement strategy.

7 Secrets of High-Converting SaaS Free Trials

April 16, 2023April 14, 2023 Shashank

While just about every B2B SaaS company offers a Free Trial – especially those with self-service sales models – in my experience, the percentage of SaaS companies that feel their Free Trial is “successful” is fairly low.

Disappointingly low, actually.

And it absolutely doesn’t have to be that way and in this article I’ll show you how to create high-converting Free Trials!

Software as a Service (SaaS) companies often rely on free trials to convert potential customers into paying ones. However, not all free trials are created equal. Some result in a high conversion rate, while others fall short. Here are seven secrets of high-converting SaaS free trials:

Set Clear Expectations

Be upfront about what the free trial includes and what it does not. This can help prevent customers from feeling misled or disappointed when the trial ends. It is also important to provide clear instructions on how to get started with the trial and any limitations or restrictions that may apply.

Limit Trial Duration

Keep the trial period short enough to create a sense of urgency but long enough to allow users to fully test out the software. A trial period of 14-30 days is typically effective.

Provide Exceptional Onboarding

The onboarding process should be simple and intuitive, making it easy for users to get started with the software. Provide clear instructions and guidance, and make it easy for users to reach out to support if they have any questions or issues.

Highlight Key Features

Highlight the key features of the software that are likely to be of interest to potential customers. This can help them see the value in the software and make an informed decision about whether to purchase it.

Collect Feedback

During the trial period, ask users for feedback on their experience with the software. This can provide valuable insights into what is working well and what can be improved. Use this feedback to make improvements and better tailor the software to the needs of potential customers.

Offer Incentives

Consider offering incentives to users who sign up for the trial or convert to paying customers. This can include discounts, extended trial periods, or access to additional features.

Follow Up

After the trial period ends, follow up with users who have not converted to paying customers. This can include sending reminder emails or offering additional support or incentives to encourage them to purchase the software.

By implementing these seven secrets of high-converting SaaS free trials, you can increase the likelihood of converting potential customers into paying ones. Remember, a successful free trial is about more than just getting users to try the software. It’s about providing an exceptional user experience and demonstrating the value of the software to potential customers.

Successful High-Converting SaaS Free Trials: statistics and real world examples

Free trials are a popular method for SaaS businesses to acquire and convert customers. The following statistics and real-world examples showcase the success of high-converting SaaS free trials:

Conversion Rates: According to research by SaaS Capital, SaaS companies with a free trial have a median conversion rate of 20%, while companies without a free trial have a median conversion rate of 8%.
Freemium vs. Free Trial: Freemium models, where a limited version of the product is offered for free, have lower conversion rates than free trials. According to a study by Totango, free trial conversion rates are 2-5 times higher than freemium conversion rates.
Time Limits: Free trials that last between 7-14 days have the highest conversion rates. After 14 days, the conversion rates start to decrease. A study by ConversionXL found that companies with a 14-day free trial had a median conversion rate of 14.9%, while companies with a 30-day free trial had a median conversion rate of 11.3%.
Customization: Customizing the free trial experience can improve conversion rates. For example, HubSpot found that customizing the onboarding process for each customer resulted in a 35% increase in conversion rates.
Demos: Offering a demo in addition to a free trial can improve conversion rates. A study by SaaS Capital found that companies with a demo had a median conversion rate of 22%, compared to a median conversion rate of 18% for companies without a demo.
Metrics: Measuring and analyzing free trial metrics can help identify areas for improvement. For example, Intercom increased their free trial conversion rate by 25% by focusing on activation metrics, such as the number of users who completed a key action during the trial.
Real-World Examples: Companies such as Dropbox and HubSpot have seen success with free trials. Dropbox’s free trial resulted in a 60% conversion rate, while HubSpot’s customized onboarding process and free trial resulted in a 25% increase in conversion rates.

In conclusion, free trials are a successful strategy for SaaS businesses to acquire and convert customers. The key to success is customizing the experience, setting appropriate time limits, and measuring and analyzing metrics to identify areas for improvement. Real-world examples such as Dropbox and HubSpot showcase the effectiveness of free trials in driving conversion rates.

SaaS free trials – Designed For Conversion

April 15, 2023April 14, 2023 Shashank

SaaS free trials have become a popular marketing strategy for software companies looking to acquire new customers. By offering a free trial period, companies can provide potential customers with an opportunity to test their product before committing to a purchase. This approach has proven to be highly effective in driving conversions and increasing revenue for SaaS businesses. In this article, we’ll explore how SaaS free trials are designed for conversion and why they have become a critical component of SaaS marketing.

The Importance of User Experience

One of the key factors in designing a successful SaaS free trial is the user experience. The trial should be easy to sign up for and should provide a seamless experience for users. The trial should also provide enough time for users to explore the product and determine if it is a good fit for their needs. By focusing on the user experience, SaaS companies can create a positive first impression and increase the likelihood of conversion.

Limited Functionality

Another way SaaS companies design their free trials for conversion is by limiting the functionality of the product during the trial period. This approach encourages users to upgrade to a paid subscription to unlock additional features and functionality. By providing a taste of what the product can do, SaaS companies can entice users to upgrade to a paid subscription to access the full suite of features.

Personalization

Personalization is another critical component of designing a successful SaaS free trial. By tailoring the trial to the user’s needs and preferences, SaaS companies can create a more personalized experience that resonates with users. This approach can help to build trust and increase the likelihood of conversion.

Automated Onboarding

SaaS companies also use automated onboarding processes to help users get started with the product quickly and easily. By providing clear and concise instructions, SaaS companies can help users understand how the product works and how to get the most out of it. This approach can help to reduce churn and increase the likelihood of conversion.

Customer Support

Another important factor in designing a successful SaaS free trial is customer support. By providing excellent customer support during the trial period, SaaS companies can help to build trust with users and increase the likelihood of conversion. This approach can also help to reduce churn and increase customer satisfaction.

Upselling

SaaS companies also use upselling tactics during the trial period to encourage users to upgrade to a paid subscription. This approach can include offering discounts or special pricing for upgrading during the trial period. By providing a clear value proposition, SaaS companies can entice users to upgrade and increase their revenue.

Data Analytics

Finally, data analytics play a critical role in designing successful SaaS free trials. By tracking user behavior and engagement during the trial period, SaaS companies can identify areas for improvement and optimize their trial process for conversion. This approach can help to increase customer satisfaction and revenue over time.

In conclusion, SaaS free trials are designed for conversion by focusing on the user experience, limiting functionality, personalization, automated onboarding, customer support, upselling, and data analytics. By implementing these strategies, SaaS companies can create a trial process that resonates with users, builds trust, and increases the likelihood of conversion.

Transcending Self-Interest: How Embracing a Non-Centered Higher Purpose Can Drive Successful Traction for Your Side-Project

April 14, 2023January 12, 2024 Shashank

Starting a side project is an exciting endeavor. You’re motivated by the desire to create something that you’re passionate about and make a difference in the world. However, it’s easy to get caught up in your own self-interest, such as the desire for financial gain or personal recognition, and lose sight of the bigger picture.

In this article, we explore the power of embracing a non-centered higher purpose for your side project and how it can drive successful traction. A non-centered higher purpose refers to a purpose or goal beyond oneself, such as making a positive impact on society or helping others in some way. By embracing a non-centered higher purpose, you can connect with a broader audience and build a loyal following that will help you to achieve your goals.

Here are some key ways that embracing a non-centered higher purpose can drive successful traction for your side project:

Differentiation: In a crowded marketplace, it’s important to stand out from the competition. By embracing a non-centered higher purpose, you can differentiate your side project from others that are solely focused on self-interest. This can help you to attract a wider audience and build a loyal following.
Resilience: Starting a side project can be challenging, and setbacks are inevitable. By embracing a non-centered higher purpose, you can stay motivated and focused on your mission even in the face of adversity. This resilience can help you to overcome obstacles and achieve your goals.
Innovation: Embracing a non-centered higher purpose can also drive innovation in your side project. By thinking beyond yourself and focusing on the needs and desires of your audience, you can create products or services that truly meet their needs and stand out in the marketplace.
Impact: Ultimately, embracing a non-centered higher purpose can help you to make a positive impact on society. By creating something that benefits others, you can create a legacy that extends beyond yourself and makes a difference in the world.

To embrace a non-centered higher purpose for your side project, start by asking yourself some key questions:

What am I truly passionate about?
How can I use my skills and talents to make a positive impact on society?
Who is my target audience, and what are their needs and desires?
How can I create something that truly meets their needs and benefits them?

By answering these questions and focusing on a higher purpose beyond yourself, you can drive successful traction for your side project and achieve your goals. So take the first step towards transcending self-interest and embracing a non-centered higher purpose today.