Is your SaaS business struggling to convert? Optimizing the conversion intent of your SaaS audience can be a great way to increase conversions.
Marketers believe that a reasonable SaaS conversion rate usually falls between 3-5%. Anything above 8% is considered a strong conversion rate.
However, instead of focusing on the benchmark, act smart, and find out what your conversion rates are doing and what you need to do to reach your goals.
In this article, we will be discussing conversion intent, how focusing on intent can lead to better conversion rates, and the five ways to measure conversion intent.
What is conversion intent?
Conversion intent is the measure of a prospect’s desire to complete a transaction on your SaaS site. It could be obtaining a SaaS product or availing a service you offer on your site.
Your prospects can either have high conversion intent or low conversion intent. When your potential buyers have high conversion intent, they are willing to overcome all types of issues, as they have a strong desire to purchase your product or service. No matter what challenges and obstacles they encounter while using your sites, such as slow loading site speed or complex navigation, they’ll still make the purchase.
Conversely, a prospect with low conversion intent will leave your site if they encounter the same challenges. In order to convert buyers with low conversion intent, you need to maintain a highly optimized site.
A great Conversion Rate Optimization (CRO) strategy is to match conversion intent with user behavior at the right place in your conversion funnel.
How is it different from the conversion rate?
While conversion intent measures a prospect’s desire to complete a transaction on your SaaS site, the conversion rate is all about converting a prospect into a paid consumer.
To get the SaaS conversion rate, you divide the number of conversions by the total number of visitors or inquiries of your product or service. The metric will differ from business to business as every business has varying goals and implements different tracking metrics.
How focusing on intent can lead to better conversion rates?
An intent marketing strategy will help your SaaS business target consumers with high purchase intent, thus increasing the quality and quantity of lead generation and maximizing conversions and the Life-Time Value of your uses.
For instance, you can use high-intent keywords to improve conversion rates. They usually generate 4 to 10 times higher conversion rates as compared to low-intent keywords.
You can also leverage mobile. More people prefer to use mobile over desktop these days. One of the most significant advantages that mobile offers over a desktop is the call function. And many statistics suggest that inbound calls bring 10%-40% better conversion rates as compared to web leads. Adding a click-to-call button on your SaaS website will cost you nothing but increase mobile conversion by leaps.
Also, Google prioritizes mobile-first websites and ranks half of the pages on your website by their mobile versions.
Here are the three main types of intent you can consider:
- Navigational intent: Here, users’ queries are straightforward as they are searching for a specific website or page. You can’t do much to capture users’ attention here.
- Informational intent: Informational queries occur when a user is searching for more information to learn something. They may be searching for information on your industry or your products. Remember that they don’t necessarily have high purchase intentions.
You can thus create relevant informational topics that educate your visitors. It will lead them down the sales funnel.
- Transactional intent: Queries are made with transactional intent when a user is searching to make a purchase. You can seize the opportunity and help them in the process of converting them.
Offering comprehensive product information, optimizing and simplifying the checkout process, and solving issues users might face are all great strategies to covert.
When crafting content for transactional queries, you should:
- address the pain points
- offer comprehensive content addressing the solutions
You can use these practical intent-based content tips while creating content:
- Convert long-tail keywords into the content: Try to find out the keywords or search terms that people use when trying to find you. When you aren’t sure whether the query is transactional or informational, you can enter the query into Google and observe results. In case the top results are informative, there is a likelihood that the question is too.
Sometimes, users will make queries with multiple intentions. So, ascertain the intent behind the questions to craft relevant content. Teaming up with SEO consultants is a great idea.
When you are done with this, you can convert these long-tail keywords into dynamic content to bring more traffic to your company’s blog.
- Turn FAQs into the content: Frequently asked customer questions can be turned into content. If you are just starting out and don’t have enough customers, you can check out what types of questions people were asking about competitors and create helpful and informative content around those questions.
5 ways to measure conversion intent
Now, let’s look at the 5 ways to measure conversion intent:
- Keyword volume research
Keyword search volume implies the number of searches made for a specific keyword in a given timeframe. It will provide you with a general idea of a keyword’s competitiveness and overall volume.
Seasonality has a vital role to play in keyword search volume. Though shoppers who want to make a good bargain may search for “Halloween Costumes” in May, but most people will wait until September to conduct such searches.
Search volume is crucial as search engines are a great way for websites to attract new visitors and traffic. You should thus target keywords in your content with accurate search volume.
But note that only targeting keywords with very high search volume is a bad idea. This way, you will be competing with more significant sites making it difficult to get your content ranking. You should arm yourself with all the practical SEO tips to rank your business.
- Use predictive analytics
Using advanced predictive analytics, you can predict future events. It applies several techniques, including data mining, modeling, machine learning, statistics, and AI, to analyze current data and predict how your business will fare in the future. Predictive analytics can also be used to measure conversion intent.
Using data mining, text analytics, and statistics, you can create predictive intelligence. It can reveal patterns and relationships in both structured as well as unstructured data.
Structured data such as age, gender, marital status, income, etc., are readily available for analysis. Unstructured data, on the other hand, are textual data that you find in social content or other open text. You will have to extract the data from the text along with the sentiment.
- Analyzing re-engagement rate visitors
Analyzing your website re-engagement is another way to measure the conversion intent of your web visitors. Tools like Google Analytics will help you to see which audience segments are spending more time on your site, allowing you to adjust what visitors perceive when they first land on your website.
Use Google Analytics’ traffic source feature as a start to analyze site visitor engagement. From this report, you can tell where your traffic is coming from and also the amount of traffic from different traffic sources. The report also shows you engagement metrics and the results of all of that engagement, such as bounce rate, pages per session, and average session duration.
You can also analyze your visitor’s engagement by landing page and by device category in Google Analytics. Once you get the results, you can come up with strategies to build a more engaged conversion channel or increase conversions.
- Determining exit pages
Finding out why people leave your site or specific pages can help you make one more effort to convert visitors with the intention of leaving.
Exit-intent popups work well in this regard and can stop visitors from abandoning your page. It can detect when a visitor is about to leave, giving you a chance to show the visitor one last message at that crucial moment. A study shows that you can recover 53% of abandoning visitors by using exit-intent popups.
You can personalize your exit-intent popups by using your visitor’s name, as done in the example below, to see more conversions.
- Understanding the needs of trial users
One great strategy that SaaS service providers often implement to entice customers is offering free trials.
There are basically three types of free trials:
- Free Trials that don’t need a credit card: Here, users sign up to sample the SaaS product or service and find out whether it will meet their needs.
- Free Trials that require credit card registration: SaaS product or service providers like this by offering their credit card information, users are taking a baby step towards purchasing their product or services. It will only work when there is absolute transparency. You should also offer numerous options to users to opt-out of the trial period at any time.
- Freemiums: Freemium services are a trend, particularly for app-driven SaaS subscription models. Here, customers have the option to remain a free-trial user for a lifetime by paying only for advanced features. Companies such as Dropbox have earned billions out of this model though it is considered by many as a wrong way to do business.
Understanding the needs of the trial users can improve your SaaS conversion rate. But it will depend on customer experience. So, create high-quality products that offer value, make it easy for users to use your product, know your most valuable feature so that you can make it your USP and offer competition, and provide stellar customer support.
Finding out the conversion intent of your SaaS audience and optimizing it can dramatically increase your conversions. Every SaaS business should focus on the intent of consumers and target those with high purchase intent. Web visitors with low-intent can also be converted by offering valuable content. You can use the five ways mentioned in this article to measure conversion intent.