Competing against free-to-use giants like YouTube & Vimeo with a paid SaaS product, can be a tough sell. It meant that Andrew Capland (Leader of Wistia’s Growth Team) needed to optimise the entire user journey: from visit to lifetime value to even be competitive.
So, they bought on Conversion to help optimise the funnel end-to-end, with the challenge of driving rapid growth through experimentation.
Conversion launched an in-depth analysis of Wistia’s acquisition channels, users & website.
They quickly discovered that many visitors had already seen the Wistia video player on another website, and wanted to take a free trial straight away – without knowing the product’s other killer features.
They also found that the ‘elephant in the room’ had to be addressed. Potential customers were going to compare Wistia to cheaper alternatives like YouTube and Vimeo – so Conversion needed to help them make an educated comparison.
Using the data & insights, they launched tactical experiments (on page design, layout) and strategic experiments: testing pricing and different plan options.
Most SaaS companies use the same model: cheaper plans have limited features, and the more you pay, the more features you get. In Conversion’s pricing test they gave the same functionality to everyone, regardless of the plan they were on. Instead, they would limit the number of videos they can upload – the more you pay, the more you can upload.
This new model would remove the barrier to conversion of understanding the proposition and functionality of the product, and instead turn it into a question that every new customer could easily comprehend.
"We constantly found ourselves saying things like "Thank God for Conversion!"."
Within just a few months of testing, Wistia saw some incredible results.
Sales more than doubled, and revenue increased by 46% – all whilst being able to slash Ad spend by 88%.
Andrew Capland said that Conversion had “changed the way they do business”. He said “when we first started working with them, folks at Wistia weren’t interested in A/B testing. Now, we’re A/B testing tons of things, and our business growth had never felt more organised.”
Wistia went from being a business who had barely run an experiment before, to a business who used experimentation as a fundamental driver for growth.
- 46% increase in revenue
- x2 increase in sales