I have my doubts, that the little conversion rate should be the problem of the actual situation.
There started tons of competitive platforms on the market in the last few years and all of these platforms share now a more or less fixed amount of customers.
Today I had a talk with one of my Audiojungle customers. Her original words:“I just spend so much time looking for music that fits my videos and to be honest, there is so much cheap crap on audiojungle.”
That’s the problem! Customers conversion rate is so low, because they give up for searching good items. They possibly find one good track in hundreds of search results full of cheap crap. Thanks to the “very good” Envato search engine. AJ desperately tried to keep the head up with a mass of new authors and hundreds of thousands new tracks. Everyone was able to sign up to AJ, without any check of music quality. Yes, AJ has a review process on every single item, but honestly the results speak for itself. Customers are annoyed because of the bad item quality and change to competitors with better items. It’s simply too late now.