Free trials and demos on SaaS products succeed because they offer a complete experience of benefits and its value proposition without buying the product. It’s pretty standard for SaaS products to offer a ‘free trial’ option through B2B email campaigns to encourage potential sign-ups. This is a good strategy since ‘Free Trial’ or ‘Try for Free’ Call-to-Actions can improve customer onboarding quite efficiently.
The trial customer rate refers to how many people converted to a paid account from a trial account. Klipfolio’s benchmark conversion rate for opt-in free trials (where payment information is not essential for free trials) is around 25%. For opt-out free trials (where entering payment information is necessary beforehand), it is about 60%.
As a SaaS company, you must be paying big marketing dollars for leads. I am sure you have a trial conversion rate in mind, right? Today, SaaS marketing is very contextual and value-based. So, if you want more success in converting your trial customers, you’ve got to do a few things.
Analyze your trial conversion data and determine the ideal customer profile match or behavioral data to tailor your email campaigns on your B2B email marketing software. This is also known as contextual segmentation. Next, once people have signed up for the trial, show them the benefits of using your product. This benefit realization or time-to-value is an important metric to measure.
To decrease the time-to-value, ask yourself – is my messaging aligned to my customers’ needs? Often, customers’ attention span is in seconds. Thus you have only a short span of the trial period to grab their attention. Instead of talking about the features of your product, speak about the customers’ business needs and how your product addresses them. You can accomplish this through a demo, a free trial, a product education video, or an extended freemium offer.
A free trial is a low-risk way for a customer to try your product. Since they feel no obligation to buy, ideally, they should be more comfortable using the product. In short, the critical aspect of increasing trial to customer conversion ratio is dependent on product education and potential segmentation data that you push. Even the best B2B email marketing software can’t get the job done without the proper context.
If you want to know how to improve your contextual B2B email segmentation, sign up for Glance here or write to us at firstname.lastname@example.org and we can talk!