• Matthew Lerner

The 3 Conversion Killers (are easy to fix)

Let's talk about conversion - it’s super leveraged and most startups’ rates are abysmal.

What’s a good conversion rate?

If your home page offers a “free” sales demo, free trial, etc., aim for a prospect conversion rate north of 10%. (Actually, 30% is ideal).

The Three Killers

Most startups are nowhere near 30%, usually because of these 3 mistakes:

  1. Assuming Too Much Knowledge - If, like most startups, you are inventing a new product or category, then don't assume prospects have any knowledge about it. Start by talking about the things they do understand… which leads us to point #2

  2. Focusing on solution rather than need - Does your site mainly talk about your product? That can be confusing if they don’t already know you. Instead, start by talking about what they do know, your prospects' problem or need (and how a crappy incumbent product or some kind of workaround isn't really solving that problem).

  3. Generic Platitudes - Replace nonsensical platitudes like “Collaboration reimagined” or hollow superlatives like “industry leading” with the customers' exact language when talking about their need or frustration. (Tip: Verify word choices by reading competitor reviews online, and using a free keyword research tool like UberSuggest).

One Great Example: Tide, which is not a bank, but a FinTech app says “Open a business bank account in minutes… get a sort code and account number straight away.” Nothing about themselves - they only describe the visitor’s goal in the very specific language a customer would use.

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