Boost Conversion Rates with Multistep Forms and Data Collection

– The company initially used a strategy of driving paid traffic to a landing page and collecting email addresses before launching a product.
– They would then email subscribers with a discount for taking a survey to gather more data about why they signed up.
– However, only a small percentage of people completed the survey, resulting in limited data collection. The company then implemented a new approach that resulted in a significant improvement in data collection during the sign-up process.Implement a multistep form during the sign-up process to collect data and improve the overall approach and experience.Years ago, we were implementing a go-to-market launch strategy for a brand. We drove paid traffic to a landing page before the product launch and collected email addresses. We then emailed the subscribers with a discount for taking a survey to gather more data on why they signed up. Only 35% of the people opened the email, and out of those, only 10% clicked through to the survey. Surprisingly, 70% of the people who clicked through completed the survey. Despite having 1000 sign-ups, we only obtained data on 24 people. This cost us $11k in ad spend, and our sign-up conversion rate was only 15% for a very niche targeted product. Clearly, this was a problem.

So, we analyzed where things were inefficient and worked out how to solve them. Our hypothesis was simple: what if we could remove the friction of leaving the website and immediately start collecting data after a sign-up? Looking at the numbers, we realized that we only needed 2.4% of people to provide us with data to match the same rate we were getting through the current method. With this in mind, we built a new system.

Today, on average, more than 90% of people provide data during a sign-up. This represents a significant improvement of just under 38 times. Yet, the majority of brands still don’t use multistep forms, fail to collect data, and continue to send out emails with surveys, hoping for the best. And don’t even get me started on asking for a phone number… Collecting data that you can use in a one-to-many context to improve your entire approach and experience is the best decision you can make moving forward. #ecommerce #marketing #strategy

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