Do you wonder how a free trial of your paid subscription product or service would help to drive sales? Do you wonder what would be the best length or content of such free trial?
Well, here’s some quite rare insights from the Redpoint survey based on 590 answers. The key findings to me (but you should read its 55 pages presentation) as follows:
- do annual contracts
- limited time based (versus limited features, or number of users) trials show best conversion rates
- conversion rates are very similar, independently of the duration of the trial and that starting with (only) 7 days of free trial!
(so, in order to max out revenues, don’t give away too long of trial period),
- Free trial doesn’t work well by itself; you need to follow up, and improve conversion 4 fold!
- Conversion is 4% unassisted and 15% assisted
Thanks to the (19) readers of this article !