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To calculate your software’s free trial conversion rate, divide the number of free users that converted to a paid plan in a given period—30 days, Q2, or all of 2021—by the total number of free trials registered in the same period. Then, multiply by 100 to calculate the percentage, and boom!
- Spencer Cappelli
Mar 31, 2023 · TL;DR. The free trial conversion rate is the percentage of users that upgrade from a free trial to a paid account. 15% is a good free trial conversion rate for SaaS products. In the B2B space, it’s a 25% conversion rate. There are four different types of free trial models in SaaS: freemium, opt-in, opt-out, and reverse trial.
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What is a free trial conversion rate?
How do you convert free trials to paying customers?
How to increase SaaS free trial conversion rates?
How to increase free trial conversions?
- Optimize your Trial User Journey for Conversions. As a marketer, I know that we’re constantly trying to use “best practices” or model what the “best-in-class” companies do.
- Communicate Expectations Clearly Throughout the Trial Period. Most users want to know precisely what they’re getting into with free trials, and there are a few areas that you absolutely should cover when marketing your free trials.
- Make it Easy to Upgrade or Downgrade. Another way to get people to upgrade is to reduce friction anywhere that makes it harder for the user to move from a free account to a paid one.
- Use Chatbots or Sales Tools to Proactively Handle Objections. Before most users switch to a paid version, they wonder about the few glaring questions that are holding them back.
- Implement a product-led sales strategy to identify product-qualified leads. In a product-led approach, the product is the primary acquisition driver. This is unlike the traditional method where leads are qualified in MQLs and SQLs.
- Find the right balance of features included in your free trial. The right balance is the key to conversions. If you don’t add enough features, users won’t experience the expected value and drop.
- Personalize the onboarding process for free trial signups. Collect info on users’ jobs to be done with a welcome screen that looks something like this
- Guide new users towards activation with onboarding checklists. A checklist helps users experience the benefits of your product quickly. It enables them to explore your key features and decide if the tool is what they need.
- Make It Easy for People to Use Your Product. Rekener’s Greg Keshian says that the key to converting trial users to paid customers is to “deliver value during the trial.”
- Know Your Most Valuable Features. Kommunicate’s Satadeep Biswas says that the best way to convert trial users to paying customers is “to have a feature-usage metric to base your pricing plan on.”
- Create a Sense of Urgency. “Offering a certain promotional period that is still beneficial to your business but feels exclusive, limited, and urgent is a great way to convert a free trial into a paid activation,” says Beverly Friedmann of MyFoodSubscriptions.
- Provide Personalized Demos. “The most effective strategy for pushing free trials to paid customers for us has been through our personalized demos,” says Trina Moitra of Convert Insights.
Jul 22, 2022 · July 22, 2022. Andrea Wang. Principal Product Manager, Growth. Increasing free trial conversions can lead to sustainable business growth. This guide includes five tips for optimizing conversions and turning free users into paying customers.
Yes, the free-trial conversion does work. According to First Pages Sage, an average of 48.8% of users convert organically to a paid account from a free trial in SaaS (opt-out method). Yes, you can convert almost 50% of your free users to paid with a free trial! Steps on How to Convert Free Trial Users to Paying Customers
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