Success Metric vs. Fail Condition - To the Pain! by @TriKro
Tristan Kromer stashed this in Entrepreneurship
If we define our success metric at 20%, when the conversion comes in at 19%….it’s close enough.
When the conversion is 15%….there’s room for improvement.
When it’s 10%…clearly we need to spend more time optimizing.
When it’s 5%…well….some people are still interested!
When it’s 1%…maybe we’re not explaining it well enough.
When it’s 0%…did we forget to install analytics?
It’s almost impossible to accept failure. There’s always a potential rationalization. After all….we just haven’t succeeded…yet.
Just like the penguins.
20% conversion seems aggressive in general.
But your bigger point is a good one: Don't redefine success.
Instead try to listen to reality.
I had a corporate team that got an 83% conversion rate on a landing page via good segmentation and comprehension testing.
For a free consumer product, 20% isn't that high of a bar. It's only high when your traffic isn't very targeted.
Ah, I see.
If the person lands on a page because of a Facebook or Google ad, the conversion rate better be pretty good or the ROI won't be good.
That makes sense for people selling a specific product or service.