Why are your SaaS signups dropping off?
I get asked this a lot. Are Storylane product tours useful for companies with a B2B product that has a self signup. The quick answer is yes, for a typical B2B SaaS product, it takes a prospect significant time to set up their accounts before they can see the potential benefits of your product.
Self signup is a double edged sword. It brings in a lot of prospects at the top of the funnel, but most of them drop off. The friction to signup is minimal, but the enormity of the task beyond that makes your prospects freeze without taking next-steps. These next-steps could be
- spending time to populate data into your application,
- inviting other team members to start collaborating or
- connecting other SaaS applications which requires approvals
They see the promise when they land on your website, but then suddenly they lose steam and you are left with a lead which your sales team is busy chasing.
Self signup has other challenges -
- Often the decision makers are left out of the conversation and the person signing up has no clear direction how to champion your product
- How do you take your prospects through the journey after signup that they get to know the value of the product immediately for them to come back. It takes product managers time to perfect the onboarding steps to get your prospects to realize the value quickly
That’s where an interactive product tour is incredibly useful for product marketing teams. You can show off your entire application with guard rails so that your prospects know the key benefits of your product. Let a self-guided product tour help your prospects qualify themselves as PQL (product qualified leads) after which you can have them signup or schedule a conversation with your sales team.
While self-serve has been the mantra for Product Led Growth, if executed poorly it results in low quality leads that never come back. For self-serve to bear fruit, it needs to come with onboarding that gets your prospect to derive value in the first few minutes.
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