I launched my membership site a year ago with my husband (web developer) and we initially launched with only 50 spots and filled them in 3 days. We closed enrollment and opened a month later to another 50 and got about 40 more. 12 months later we’ve been hovering between 100-110 members for 8 months but my email list is growing rapidly and currently at 6500 and climbing.
I’m learning in my Fizzle course that my conversion rate stinks because my product isn’t attractive enough. My hypothesis is the value to members isn’t easily found. Compound this with a new baby, working part-time and my spouse/web developer working full time.
I suppose my question is this – how to get things buzzing again a year after a launch? And when you only have limited time to work on improving your product, where do I start?
Conversion rates can be low for other reasons as well.
Aside from product usefulness, the other factor I’ve seen to impact conversion rates most is audience fit. Your product may be fine, but you could be trying to sell it to the wrong audience. This happens commonly when you’re building an email list with a promise/giveaway that doesn’t align well with your product.
Price can also be a big factor.
Anyway, bottom line is, your conversion rates can be low for a number of reasons, and product attractiveness is just one of those reasons.
Have you considered doing some customer interviews, to find out where the disconnect is with your product? Talking with 10 customers could help you narrow things down. Our customer conversations course is really great for this, if you haven’t taken it already.
The Top 10 Mistakes in Online Business
Every week we talk with entrepreneurs. We talk about what’s working and what isn’t. We talk about successes and failures. We spend time with complete newbies, seasoned veterans, and everything in between.
One topic that comes up over and over again with both groups is mistakes made in starting businesses. Newbies love to learn about mistakes so they can avoid them. Veterans love to talk about what they wish they had known when starting out.
These conversations have been fascinating, so we compiled a list of the 10 mistakes we hear most often into a nifty lil' guide. Get the 10 Most Common Mistakes in Starting an Online Business here »