?? Innovative Business Consultant | ?? Advancing Business Success through Ethical Competitive Advantage | ?? Ex-Microsoft, ?? Ex-WaMu/Chase | ?? International Speaker
If your customers aren’t converting to paid customers, you have a value prop issue. Essentially, they aren’t seeing the value that your product provides and thus do not decide to pay for it. In order, I would validate each the following items: 1. Does your product solve a problem your customers have? (Utility-See my latest Substack post for more on this. Link in the comments) 2. Is that problem so painful that they seek a solution or can they live with it the way it is? 3. When they seek solutions to solve that problem, is your product at the top of?the list or is there a competitor who is more top of mind? 4. When customers use your product, what value do they get? Additionally, how do they feel your product could be better? 5. Do your customers feel they are getting more value than the cost?of the product? When looking at conversion, it’s about this value to money ratio. If they aren’t converting, it's because they don't see the value of your product in relation to the money they need to pay. It's just not a good deal for them. You need to figure out what additional value you can provide them that will take them over the hump to providing them with so much value they can’t believe it’s so inexpensive. When they feel like it's in their favor, and it solves an important problem they have, the problem changes to one of awareness and Marketing. And those are easier problems to solve. #productstrategy #ux #marketing #valueprop #business