Subscription to Conversion Rate: The New Golden KPI

– Subscription to conversion rate is an important KPI to track in ecommerce.
– Tracking this metric can indicate product market fit and the performance of marketing and website.
– The quality of the audience and the likelihood of conversion can be determined by tracking this rate.Start tracking the subscription to conversion rate and break it down by source and other factors to understand the quality of your audience and drive the right types of traffic that are more likely to convert.Subscription to conversion rate is the new golden KPI. If you’re not tracking it granularly, you’re wasting a ton of time and resources on a bunch of stuff without even realizing it. Measuring this one stat will tell you if you have product-market fit and if your marketing and website are performing at a high rate. Focusing on this metric also sets you up for long-term gains because getting to that first purchase is the hardest part of any e-commerce company’s journey. Getting to a repeat purchase requires someone to have experienced the product. So, this looks something like this from an intent matrix standpoint:

– Paid ad – track that Click-Through Rate
– Landing Page – track that viewed popup rate
– Home Page – track that viewed popup rate
– Popup – track that subscription rate

Which leads us to the subscription to conversion rate. Track it, then break it down by source, by UTM, etc., so you can understand the quality of the audience coming from everywhere. Why do I track things this way? The typical conversion rate for a very well-performing e-commerce website is 2-6%. The typical conversion rate for someone that signed up via a popup is 20-30%. This goes up to 40%+ for people that are high intent related to the timing of the purchase. We find these patterns from our multi-step forms.

So here’s the thing… It’s not about the number of signups, it’s about being able to qualify the quality of the audience and know that you’re driving the right types of traffic that are more likely than others to convert. You 100% do not need to track these things, in fact, 99.9% of websites aren’t. But if you could and you can, why wouldn’t you? This is new, it’s contrary to past advice, specifically because it’s been really hard to measure the quality of the traffic before Formtoro. It’s why we built our tool.

Not all subscribers are the same value, but for everyone currently collecting just emails and phone numbers, they wouldn’t know the difference. You can start to track this stat without Formtoro, you can use unique coupon codes only and do manual pulls. If you aren’t collecting more data to understand the quality of your visitors that are signing up that are the highest intent to understand the different levels of intent…You know this ecommerce stuff is only going to get harder.At a certain point, that point is now, it’s cheaper and easier to leverage more than a 15 years of marketing experience and a platform specifically built for fixing my biggest problems faced in business. Think you’re too small of a company but want to work with us? Come at me with an offer that makes sense for both of us. We just took a company from $12k a year to $100k in a month in less than 2 years without a sales driven mentality all rooted in data and strategy and a $1500 starting budget. Anything is possible leveraging data.#ecommerce

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