🥳 Big news! We've partnered with Clearbit to double-down on our industry-leading marketing intelligence. Read more.
Hello and welcome to Factors Labs — a segment that reviews actionable insights from our data science team on all things marketing analytics and attribution. We report on patterns that emerge from real data collected across markets, companies, campaigns, events, funnels, and more.
Most B2B SaaS websites are designed to drive demo form submissions. Website sections such as “Features”, “Product”, “Pricing”, “Resources”, etc. exist primarily to steer traffic to your website, inform visitors about your product or service, and ultimately, convert them into leads using a demo form. But what about after a demo form is submitted? Do prospects continue to visit your website and consume your content? And how does conversion performance vary between those who revisit websites and those who don’t. Understanding the answers to these questions will provide insight into the types of web pages and website content you should be looking to prioritize.
The following analysis examines 5 mid-market B2B SaaS firms over a period of 6 months to decipher website visitor behavior before and after a demo form is submitted. Data was collected from over 54,000 users to ensure robust, statistically significant analysis using Factors. First, we examine the rate of website return amongst visitors who have submitted a demo form. Next, we compare the rates at which visitors convert to customers between those who revisit post demo submissions and those who do not. Let’s take a look at what the numbers have to say.
The data reveals that on average, 34% of leads who submit a demo form revisit the website. Of the five firms analyzed, the lowest revisit rate was only about 29% and the highest was about 45%. While these figures aren’t enormous, they’re definitely significant and worthy of further examination. Since more than a third of your leads revisit your website post demo, it makes sense to understand their behavior and optimize accordingly. With this in mind, let’s take a look at how lead-to-customer conversion rates vary between prospects who do revisit and prospects who don’t.
So far, we’ve established that while the majority of leads do not revisit websites, the minority (34%) of leads who do is significant enough to warrant further analysis. So how do the two boats compare when it comes to the most important metric — customer conversion rate.
Intuitively, one might assume that leads who revisit post form submission reveal express intent as they are clearly interested in the contents of your website. However, the data shows that non-returning visitors significantly out-convert returning customers across all 5 firms. On average, leads who do not revisit the website post demo convert 2.16 times better than leads who do revisit the website. Out of the 5 firms we’ve considered, Non-returning visitors out-convert returning visitors at least 1.5 times and at most 3.5 times.
One argument is that most B2B SaaS firms tailor their content towards top of the funnel (ToFu) or “awareness stage” prospects. Naturally, this category of content appeals best to first time/early-stage visitors. Accordingly, middle of the funnel (MoFu) and bottom of the funnel (BoFu) leads may come across web pages, blogs, case-studies, etc that are ill fitting for their stage in the sales cycle. This in turn could affect their conversion rate for the worse. Hence, it may be worth investing in a combination of ToFu, MoFu, and BoFu content to ensure that your entire pipeline is appropriately satiated
And there you have it. After analyzing several thousand web sessions across 5 B2B SaaS firms over a period of 6 months, we identify the following insights:
⭐ On average, about 34% of leads revisit your website after submitting a demo request
⭐ While this rate of return isn’t enormous, it is significant enough to matter
⭐ On average, leads who do not return to your website out-convert leads who do by 2.16x
⭐ One explanation for this occurrence is that most B2B SaaS websites tailor their content to ToFu content. While this is valuable to first time visitors, it may not be sufficient for MoFu and BoFu leads. Hence, it may be worth investing in content for latter stages of the funnel to improve conversion rates
Get the latest best practices in Marketing Analytics
delivered to your inbox. You don't want to miss this!!