The ultimate goal for any subscription business is to increase conversion rates and reduce churn. However, that is easier said than done. The entire process of reaching target prospects, converting them into loyal subscribers, and retaining them as consistent customers can be challenging, but there are ways to increase your success rate.
Optimizing forms is definitely one of those ways. Today’s customers are savvy but have a shorter attention span than ever before. According to a Microsoft study on consumer behavior, it has been found that people nowadays have an attention span of 8 seconds. A major decrease from the previous findings back in 2000, when people had an average attention span of 12 seconds. So, if your goal is to convert prospects, you have to be quick and the experience needs to be seamless and smooth. Below we will cover the best practice tips to help improve your overall sign-up process, thereby, enticing more traffic and boosting conversions.
6 Tips to improve your sign-up process
Reduce The Number of Fields
Studies show that by reducing the number of fields in a form, conversions climb 87%. The more fields you have, the longer it takes to fill out the form and the more discouraged the subscriber gets. Only include fields that are absolutely necessary to complete the transaction. Focussing more on relevant, concise, and clear sign-up forms will improve your bounce rate, reduce abandoned carts, and will increase conversions.
Offer Tiered Pricing Plans
Your subscribers come in different shapes and sizes and so do their needs. It would not make sense for a multi-million dollar enterprise to subscribe to the same plan as a small business or startup. By having a pricing plan that suits any budget you are making that decision much easier for your subscribers. Be sure to offer different plans based on the most important requirements of your diverse audience. The idea of having different options catered to specific user groups will increase conversions as prospects will finally feel like they have come to the right place. Additionally, offering a basic plan creates a low barrier to entry and gives them room to grow into premium plans creating an opportunity for upselling.
Deploy Multilingual/Multinational Paywalls
If you are a digital publisher or online business targeting regions where different languages are spoken, it is important to have paywalls that cater to the diverse backgrounds of the prospects you are targeting. Having forms available in different languages helps consumers feel more comfortable and accounted for. Reducing the language barrier speeds up the process as they are able to complete the transaction in their mother tongue. Additionally, offering the ability to select your home country from a drop-down provides international clients with quick access to accurate pricing information in their native currencies.
Paywall segmentation provides online businesses with the ability to open up access to unique offers targeted to specific geographical regions. You will have higher conversion rates if you provide your audience with offerings that are relevant to them. For example, if you have a membership that includes live meet-ups in New York, you may only want to show this offering to New Yorkers.
Use Social Logins
Offering the option of social logins for users on your forms is impactful when trying to speed up the sign-up process, making it easier for users to convert. The idea of not having to go through the trouble of filling out a form is just way more convenient and enticing for new prospects, especially when targeting younger demographics. Studies have shown that after implementing social logins, conversion rates increased by more than 40%. Social logins also help collect better and far more accurate data that has been already verified like email addresses, phone numbers, and locations.
Offer a Free Trial
One of the best and most effective ways to convert is by offering free trials. Subscribers want to walk through the product or service you’re offering and get a hands-on experience of what they’re eventually going to pay for and commit to. It just is way more convenient for someone to actually subscribe for something because it’s for free and then decide if it’s worth the trouble later on. Implementing the freemium pricing strategy will definitely help boost your conversion rates significantly as well as help you gather a lot of essential leads and data.
If you’re looking for more ways to increase conversions and create efficiencies in your online business, be sure to mark your calendar for Pelcro’s upcoming webinar: Why Speed Matters for Your Online Business: How to Convert and Delight more Subscribers by Simply Acting Fast. To learn more about Pelcro, Book a demo with one of our representatives for a personalized product tour, or get started with your free trial right away and see for yourself!