So, about a month ago I started a company and just last Tuesday we launched our B2C edtech web-app. The results so far after throwing $1800 into Google Ads:
- 450 signed-up users
- 120 users solved 8 questions in free-trial (no credit card required).
- 16 users created 20 checkout sessions on Stripe.
- 2 paid user from U.S, pay by LINK, 1 user failed to make a payment after 1 hour - recorded by Stripe.
- The other 13 users? Ghosted us after creating one or more checkout-sessions.
Our product is really really good technically, also the price is cheaper than the market price from 5-10 times, but the final conversion is really worrisome even the students seem to be highly interested in our app by time per sessions, rate of solving 8 questions (which takes around 15-30 minutes).
I would like to ask whether the conversion from checkout sessions to paid users is normal or something fishy with the payment? Also, where I should go from here, I am very very technical but much less experience in growing and pushing sale.
Thank you,
Hi u/RegisterConscious993,
My number is actually much better, the total $1800 spans 9 days, conversions from the first 5 days were almost nill. I just got confirmed by Stripe representatives that there is some issues with our payment gateway and most people can only pay with LINK.
If the payment is fixed, it seems like our CPA is around 50$/ customer yesterday and should go do to 10$ next week - we dont have stats on LTV yet, but our cheapest subscription package is 7.99/month
It seems like you have a lot of experience in this field, do you want to connect?