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 from 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 !