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Toplyne Labs #2 - Conversions without borders
Hey, Ruchin here! Welcome back to Toplyne Labs - Edition #2
A weekly digest that covers unique insights on what makes PLG businesses tick, what signals make for the best PQLs, what sales teams get right, what they get wrong, and the meaning of life… Go figure 🤷🏻♂️
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Disclaimer: While this analysis spans over 5.6M users, it also captures a breadth of behaviour across various categories of PLG products. We encourage you to use these insights directionally and thematically.
Insight #1: Land of the free, and the home of the paid 🗽
Despite accounting for a mere 10-15% of leads, North America accounts for 50% of conversions.
70% of all PLG SaaS users are from emerging markets - APAC, LATAM, Africa & the Middle East. While North America, EU & ANZ (Australia & New Zealand) account for only 30%.
Conversions on the other hand, are flipped. 72% of all free-to-paid conversions come from developed markets.
Just look at North America 👀… where conversion rates are 4-8x higher than the global average 🤯
Take-away: About half of all your conversions will come from around 10-15% of your total sign-ups - all from the region marked yellow on a game of RISK: North America.
Insight #2: You snooze, you lose… in the land down under 🇦🇺
Australia buys 3x faster than average
“Days to conversion” was lowest in the ANZ region with users here making the decision to cross the chasm from freemium to the land of premium the quickest. Conversions in the down under occurred 3x faster than the global average.
Takeaway: The shorter time to convert combined with the highest relative conversion rates out of all regions indicates a clear insight for sales teams:
In ANZ, sell fast or perish.
A quick aside: More on time to conversions and the golden window for sales teams to engage and convert free users - in edition #1 of Toplyne labs 👇
Insight #3: Find the needle in the h-APAC
Although conversion rates are lowest in Asia, the law of large numbers rules supreme. APAC is neck-and-neck with Europe in terms of absolute conversions.
It’s a game of SELLING SMART. Targeting and focus is everything.
The conversion rates dropped to a low across all regions in the APAC region. But APAC packs a punch that no other region does - volumes of sign-ups. 35% of all sign-ups were from the APAC region - which even at the lowest of all regional conversion rates, amounts to 15% of all conversions.
In APAC, it becomes all the more important to cut through the noise and sell smart. Long story short: When you’re walking the APAC beaches looking for coins, without a metal detector, you’re doomed.