Trial Customer Analytics
Are you running a trial business?
1. Do you know how many users signed up for trial?
2. Do you know what any given trial user did on Day 1, how about Day 3?
3. Do you know why a trial user subscribed, while another left?
Several SaaS companies operate a trial model that offers users a risk-free 30 or 14 day trial and hopes they will fall in love with the product and signup. In reality trial conversion rates, according to industry surveys, average from 10%-25%. This is a huge waste of marketing spend and lost revenue opportunity.
You have successfully steered them to your site and also convinced them to signup for a trial, kudos, but 25% conversion is nothing but a great opportunity to improve your free trial strategy and increase your trial conversion rate. How do you go about finding a working strategy?
Start by answering the questions listed above. Understand your users, the actions they take, and the conversion triggers? As soon as you start segmenting along various dimensions from usage to lead source, you will have new insights to inform your free trial conversion strategy. You will know the right keywords, the right target use cases, the right channels and double down on the sources with the most potential as you weed out the non-starters.
TrendMatrix will provide advanced segmentation capabilities to slice and dice your trial customer data to perform this analysis quickly and easily. If you are interested in finding out more about our customer analytics solution, signup up to be notified when we launch.