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,

  • S_kara10@alien.topBEnglish
    1·
    1 year ago

    There is no product-market fit. You made a lot of assumptions building your product and now in front of the market reality pops in. You pride yourself having a technically superior product and cheaper than your competitors, great for you but obviously the market does not care. You do not bring relevant value to the target you are aiming for, that is your issue with conversion. I am not attacking you, I am simply explaining to you what’s going on. Building a product that does not bring value to the customers and pay for Google ads is not the way to do it. I get it, first time founder, but what is shocking here is at no point you realize you got it wrong from the start of your business, you think it is a technical problem.

    • not_apply_yet@alien.topOPBEnglish
      1·
      1 year ago

      Hi u/S_kara10

      Statistically, if you read my post, there is a strong market fit.

      However the metrics which don’t make sense now is the number of customers created a checkout session with Stripe and actually making successful payment.

      Currently 16 different users created 20 checkout sessions,
      - but only 2 successful payments through LINK
      - 1 failed after trying 1 hour to pay through CashAppPay.
      - 13 have no recorded.

      So I am trying to gauge if there is something wrong with this step - I am contacting with Stripe representatives at the moment. As a mathematician, I am driven by numbers, and this number seems abnormal to me.

      If this number is normal, then it is a nightmare for me, conversion to checkout is okay, but the conversion rate from checkout at Stripe to successful payment is 5% then there is no way I have the strength to continue.