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Conversion Rate Optimization: 4 Proven Strategies

Hey there,

Before I start today's issue, I'd like to personally thank the 32 new founders who recently joined us to be part of this journey!
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In this week’s issue:

  • 💡 Success in SaaS: Luck opens doors, dedication drives.

  • 🤿 4 Conversion Rate Optimization tactics

Reading time: 4 minutes

A Fresh Point of View

Sharpen your mindset

Absolute Success is Luck. Relative Success is Hard Work.

In the entrepreneurial world, luck and hard work often go hand in hand. For founders looking to expand their SaaS reach, enhance marketing strategies, and boost their MRR, it's clear that both factors play a role.

Much like Warren Buffett's idea of the "Ovarian Lottery," our starting point can be influenced by luck. Yet, when we examine the stories of determined entrepreneurs, we see the undeniable impact of hard work and perseverance in achieving relative success. It's not about choosing one over the other.

So, what's the key takeaway for these aspiring founders? In the competitive world of SaaS, absolute success may have some luck involved, but your choices, relentless efforts, ability to connect with like-minded peers on Twitter or LinkedIn and collaboration with others can define your relative success.

Embrace collaboration, explore innovative strategies, and make the most of the opportunities that arise. Luck may open doors, but it's your dedication and connections that truly drive success in the entrepreneurial world.

The Dive Deep

Learn practical methods

Stop being obsessed with Twitter likes or Product Hunt upvotes, let’s focus on improving your conversion rate.

1. Money-back guarantee 🔒

Create trust with you customer and allow them to get refunded if the product does not meet their expectation.

You might be hesitant to add it and you are right. A user can download all your products or use expensive computing operation and then send an email "pls refund" and get away with it.

In the end, you will remove potential objection during the checkout which will increase your conversion rate. In the end, if you product is good enough, you refund rate will be low.

2. Bundle with a limited deal 🎁

Discounts are cool. People love discounts.

But here's a secret: Most people would rather get x10 more value for x2 price than just the same value for 0.5x price.

It's better to be valuable than cheap.

When you only have one product, people have a choice: buy or leave.

When you have two products, people have a different choice: buy the first or second product.

And you will be surprised how many people will pick a more expensive option. People with money prefer spending money.

3. Freebies + Welcome email sequences 💌

Not everyone is ready to buy on the spot. Some people have limited budgets. Others have tight schedules right now.

That's why you should double-down on free resources.

  1. People get instant value for free

  2. They no longer think you are a fraud

  3. They will have an easier time buying our product when they are ready

But here's a catch: Creating freebies is not enough.

You need to send a juicy welcome sequence too. People don't think about your product all the time. You need to remind them about yourself.

Here is one of the automated welcome email pushing your to buy the marketing bundle:

Then subscribe everyone to your newsletters and often send more free guides or tips. Your goal is to become a top-of-mind solution for your niche.

4. Endorsement from opinion leaders 🤝

Collecting user testimonials is a great social proof but there is a better way.

Reach out to big accounts on Twitter. Offer your product for free. If they like it, you will get their testimonial.

These reviews are built differently.

  1. People see a familiar face on your landing page

  2. They see that a trusted person endorses you

  3. They transfer the trust they had in this person to you

That’s it for today! 🙌

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Thanks for reading and see you next week,