Conversion Rate Optimization: Best Practices for Solopreneurs
The most important marketing rule — if you want to grow faster, increase your Conversion Rate. This guide will tell you how.
Nobody has ever said, "I don't need a higher Conversion Rate".
Solopreneurs crave the idea of getting more customers without getting more website visitors. It's my dream too.
That's why I collected 8 non-trivial tactics to increase your Conversion Rate in 2023. Even if you don't have any marketing budget.
1. Simplify your marketing funnel
Companies with 50-person marketing departments can have complex multi-level marketing funnels. Solopreneurs can't.
The more complex your marketing funnel is, the more optimization you need to make it work. Except you don't have time to control every detail.
That's why Solopreneurs need minimalistic marketing funnels.
- 1-2 acquisition channels
- 2-3 activation moments
- 1-2 sales offers
Sure, you will lose some customers who need extra attention. But you will also make life easier for 95% of your users. And this is how you get more paying customers.
2. Acquire better users
Acquisition channels are not equal.
If you acquire users from a crappy marketing channel, they will not buy your product. Not because you are not convincing. But because traffic quality is poor.
Reddit can give you thousands of website visitors. But (on average) only a few of them will consider buying your product. No matter how well you persuade them.
So trying better acquisition channels for your product will not just give you more website visitors. It will get you more customers with less effort.
3. Have one offer at the time
Want to get your users overwhelmed?
Have 5 freebies, 10 main products, and 4 upsell products. People will get analysis paralysis and end up not buying anything from you.
Or, you can have one freebie, main product, and upsell product. Some people will leave unsatisfied. But most users will have an easier time agreeing to your offer.
Focus your users on buying one thing. Then focus them on purchasing the second thing.
4. Have 2-3 pricing plans
You should have one offer. But not one pricing plan.
Each product should have 2-3 pricing plans. Always include an up-sell pricing plan for people with money. And sometimes include a down-sell pricing plan for people on a budget.
Expensive pricing plans make your main pricing plan looks better. The same goes for cheap pricing plans. Your only goal is defining the most desirable plan for your business.
But don't have more than 3 pricing plans. That's too much. You don't want your potential customers to get paralyzed from comparing each pricing condition.
5. Chose your discount strategy
Discounts are growth drivers for Solopreneurs. But only if you pick the right strategy.
Here are 4 different approaches (all can work):
- If you have a B2B SaaS, only give discounts for upgrading to an annual plan
- If you have productized service or E-commerce brand, give discounts for the first order
- If you have a content product, run quarterly sales with huge discounts
- If you have a premium product, don't give any discounts
But don't just give everyone discounts every time they interact with your product. It looks suspicious and pushes your users back. Know when to play the discount card.
6. Get more social proof
Solopreneurs think they need to change how they describe the product to increase sales. And it's true to some extent.
But you already have the best promoter — your customers. Use them to simply overwhelm your website visitors with the love your product gets.
People trust people way more than companies. Leverage it. Get video testimonials, reviews from opinion leaders, and success cases with the best customers.
Your users need to feel that buying your product is a risk-free decision. A no-brainer.
7. Sharpen your positioning
Your users don't know everything you know about the industry.
They have no idea why your key competitor sucks. They only remember 2-3 features in your product. They are clueless most of the time.
And you don't have a lot of time to persuade them. You need to be convincing, clear, and concise. That's why your positioning must be irresistible.
- Who is this product for?
- What benefit can I get from using it?
- Why can't I use the competitor?
- How much does it cost to achieve the promised result?
- Why can you deliver the result?
Answer these questions. Embed these answers in your marketing copy. Repeat it over and over again to be consistent.
8. Reactivate undecided users
Not everyone is ready to buy on the spot.
People need time. And this is not a problem. It's an opportunity to nurture potential customers to become your loyal fans.
The only way to do this — talk to them. Send free content, hang out in your community, and surprise with limited deals.
Don't give up on users that didn't buy your product on the first try. Reactivate them.
Conversion Rate Optimization feels like magic. Find three weird ingredients, mix them, and hopefully, you will get more sales.
But it shouldn't feel like this. You just need to make buying your product easier for your users. It's a win-win for everyone.