Oct 23, 2015
Let’s start simple. What percentage of your revenue comes through a Free Trial? For many SaaS companies, it’s above 75%. But, here’s the real question – what percent of your Free Trials become paying customers? If you swallowed hard, cringed or had to guess your conversion rate, listen up! Most Free Trials are under-optimized and seen as nothing more than “a box on a flow chart.” Since they’re not optimized, conversion rates are horrible and companies move on to improving other customer acquisition levers. It’s time for this to change. Give your Free Trials a little TLC and unlock the biggest growth lever sitting right under your nose. Think about it… increase your conversion to paid customers from 5% to 10% and you’ve doubled revenue. The best part – with a little work most SaaS companies can easily improve their free-to-paid (F2P) conversion rate by at least 50%. Not to mention the positive impact on retention and CAC. I want to touch on three major pillars of your Free Trial you should start with when looking for areas to optimize. But I don’t want to be one of those people who tells you where to look and leaves out the juicy actionable nuggets. So I also tell you what to look for and give you templates to hit the ground running. Use these as your framework to find areas of improvement. Tease: I’ll be going into A LOT more depth on each of these areas. Wanna be along for the ride? Get every tip in your inbox Acquisition Channels Every journey starts with a first step and acquisition channels is where our journey begins....
