Improving Conversion Rates
Don't Fix what's not Broken
But by all means, do fix what is! I posted a link to IPknow on some forums, namely Reddit and Hacker News, and the conversion rate for free signups was dismal. Only about 1.0% of unique visitors signed up. Think of it this way - of the ~4k people that saw the link, only 10% clicked on it, and of that 10% only 4 people signed up.
Something clearly needed to be changed with the landing page. The median conversion rate across all industries is 2.35% as noted in this article by Search Engine Land.
So what's the fix?
I reached out to a couple people for feedback and got some great advice from Courtland, the founder of Indie Hackers. If you don't already subscribe to his newsletters or listen to his podcasts on iTune/Google Music, I'd highly recommend it - he has great advice for wantrepreneurs.
Here are the key points of advice he gave me:
"Stop making visitors think so hard"Essentially, make it clear on the landing page what IPknow offers. Previously, the landing page simply had a search box that stated "company name or industry...". I was thinking less is more, but it's very inefficient for conversion rates when a user doesn't know the story behind IPknow.
Now, the updated landing page clearly states, "Get an email the instant a company files to go public", with an input to enter your email and subscribe.
"Give Users a Preview"Some users are too lazy to click off of index and see what IPknow has to offer, so instead bring it to the forefront. I've added a section showcasing previous IPOs.
I'm hoping these changes will improve the conversion rates and better showcase what IPknow has to offer.
I also received some great advice from my friend Oliver AKA the Grinch, who believe it or not, can be extremely helpful 😉. Great tips to improve usability and improve engagement.
Do you have any feedback or tips on how to improve IPknow? Do you have any interest in investing in IPOs? Please comment below! I'd love to hear your thoughts!