Wondering how a free trial of your paid subscription product or service would help boost sales, what conversion rate after a free trial can you possible hope for?
What is the best duration or content of a free trial?
The good news is that you can find some pretty valuable figures for conversion rate after a free trial here in the Redpoint survey based on 590 responses. The main conclusions for me (but you should read his 55-page presentation) are the following:
- make annual contracts
- trials with limited duration (versus limitations on functionality or number of users) show the best conversion rates
- the conversion rates are very similar, regardless of the duration of the trial and it starts with (only) 7 days of free trial! (therefore, in order to maximize revenue, do not unnecessarily extend the trial period)
- the free trial doesn’t work very well if you leave the customer alone; but by following up, helping him with the onboarding you improve the conversion by 4!
- the conversion rate is 4% without follow-up and 15% with follow-up
Merci aux 24 lecteurs de cet article !