Increase subscription conversion rates by 46% through optimizing each of these smaller steps by just 10%
An alternative framework that recommends moving away from simply optimizing CTR on the paywall itself to instead combining engagement and conversion to work on the entire funnel from the first moment a user sees your premium content to the conversion into a subscriber.
Table of contents
- The conversion funnel
- The engagement and conversion funnel combined
- Step 1 — Total number of users
- Step 2 — Percentage of users exposed to the paywall
- Step 3 — percentage of users who see the paywall
- Step 4 — percentage of users who click on the paywall
- Step 5 — percentage of users who convert
- What else can you do to optimize this engagement and conversion funnel?
In short, the idea of this new framework is that lots of small changes culminate into significant improvements on your overall conversion rates.
For instance, if we employ some of the strategies detailed in this article and improve each step by 10% then we’ll increase click-through rates by 33% and overall conversion rates by 46%.
For a 20% improvement at each step, we’ll see CTRs improve by 72% and conversion rates by 108%.
Essentially, simply measuring and working to improve conversions as a single metric means you’re missing out on a potentially significant chance to increase the percentage of your users who subscribe.
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Read the full article on The Audiencers.
