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SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things
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SaaS Marketing Strategy - Free Trial Success Secret 4: Measure the Right Things

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SaaS Marketing Strategies to Make Your Web App Dominate …

SaaS Marketing Strategies to Make Your Web App Dominate

SaaS Marketing Strategy Focus: Scalable Customer Acquisition

Through scalable SaaS Marketing practices, Sixteen Ventures lead by Lincoln Murphy, provides software-as-a-service (SaaS) and Web App companies everything they need to acquire customers, improve retention, and grow the lifetime value of those customers.

New Challenges – and Opportunities – Require an Optimized SaaS Marketing Strategy

The cloud introduces new challenges for traditional Independent Software Vendors (ISV), but even for those who are building new Software-as-a-Service (SaaS) or Web Applications (Web Apps) from scratch, many challenges exist, with marketing being one of the biggest.

The Goal of Your SaaS Marketing Strategy: to Quickly Create Profitable Customers

Because Software-as-a-Service (SaaS) and Web Apps are very often sold on a recurring revenue, monthly basis – without a large upfront payment like traditional software – the key to successful SaaS Marketing is efficiency and scalability.

Payback Customer Acquisition Costs Quickly with a Great SaaS Marketing Strategy

Regardless of the type of sales process, SaaS Marketing requires you to leverage scalable methods to attract the right audience up-front, to get the customer to try before they buy, and the methods used to convert your prospect to a paying customer.

SaaS Marketing ultimately breaks down to a per-customer cost and should be paid back as quickly as possible in an effort to turn new customers into profitable customers.

But, when your Free Trial fails to convert customers, it’s probably doing exactly what it was designed to do!

You need to design your Free Trial to actually sell your product if you want to make any money in the SaaS or Web App business.

So I’ve put together a list of 7 Secrets to Free Trial Success... how to turn your SaaS Marketing efforts - your sales process - and your Free Trial - into a Customer-Creating Machine.

This is SaaS Marketing / Free Trial Domination Secret #4: Measure the Right Things

Published in: Technology, Business
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  • 1. Lincoln Murphy Presents... The 7 Secrets to Free Trial SuccessTurn your ‘Free Trial’ into a Customer-Creating Machine! Lincoln Murphy http://sixteenventures.com
  • 2. 7 Secrets to Increasing Conversions with Free Trials Secret #4: Measure the Right Things Lincoln Murphy
  • 3. 7 Secrets to Increasing Conversions with Free Trials The Free Trial is the only part of the Sales Process that you have any real control over...Secret #4: Measure the Right Things Lincoln Murphy
  • 4. 7 Secrets to Increasing Conversions with Free Trials But that control is severely lessoned by a lack of measurementSecret #4: Measure the Right Things Lincoln Murphy
  • 5. 7 Secrets to Increasing Conversions with Free Trials You Can’t Optimize What You Don’t MeasureSecret #4: Measure the Right Things Lincoln Murphy
  • 6. 7 Secrets to Increasing Conversions with Free Trials All decisions in your Sales Process - and Free Trial - should be metrics- driven or where data is lacking and you have to go with your gut, should be validated through measurement as quickly as possible.Secret #4: Measure the Right Things Lincoln Murphy
  • 7. 7 Secrets to Increasing Conversions with Free Trials Everyone tells you to measure, but few tell you what to measure.Secret #4: Measure the Right Things Lincoln Murphy
  • 8. 7 Secrets to Increasing Conversions with Free Trials Everyone tells you to measure, but few tell you how to measure.Secret #4: Measure the Right Things Lincoln Murphy
  • 9. 7 Secrets to Increasing Conversions with Free Trials Well, people will recommend that you use this tool or that tool to measure...Secret #4: Measure the Right Things Lincoln Murphy
  • 10. 7 Secrets to Increasing Conversions with Free Trials But as Peter Drucker said... “Production is not the application of tools to materials, but logic to work”Secret #4: Measure the Right Things Lincoln Murphy
  • 11. 7 Secrets to Increasing Conversions with Free Trials You first need to figure out what to measure, why you’re measuring it, and then find or build the tool that will do the job.Secret #4: Measure the Right Things Lincoln Murphy
  • 12. 7 Secrets to Increasing Conversions with Free Trials Okay, so what should you measure?Secret #4: Measure the Right Things Lincoln Murphy
  • 13. 7 Secrets to Increasing Conversions with Free Trials Only those metrics upon which you can take action.Secret #4: Measure the Right Things Lincoln Murphy
  • 14. 7 Secrets to Increasing Conversions with Free Trials If it isn’t actionable, it doesn’t matter, so don’t spend too much time trying to measure and analyze it.Secret #4: Measure the Right Things Lincoln Murphy
  • 15. 7 Secrets to Increasing Conversions with Free Trials If it isn’t actionable, it’s a Vanity Metric!Secret #4: Measure the Right Things Lincoln Murphy
  • 16. 7 Secrets to Increasing Conversions with Free Trials So Free Trial Sign-ups... Vanity Metric or Actionable?Secret #4: Measure the Right Things Lincoln Murphy
  • 17. 7 Secrets to Increasing Conversions with Free Trials Both.Secret #4: Measure the Right Things Lincoln Murphy
  • 18. 7 Secrets to Increasing Conversions with Free Trials If all you measure and gauge success on is the number of sign-ups you get in your Free Trial and that’s all, then it is a Vanity Metric because it isn’t ultimately meaningful to the desired outcome of the Free Trial.Secret #4: Measure the Right Things Lincoln Murphy
  • 19. 7 Secrets to Increasing Conversions with Free Trials Clearly, without sign-ups for the Free Trial you couldn’t get conversions, so at some point it is an actionable metric, but when looking at the end-to-end Free Trial strategy, number of sign-ups is just one input and without the others, is useless and can be misleading!Secret #4: Measure the Right Things Lincoln Murphy
  • 20. 7 Secrets to Increasing Conversions with Free Trials Is Free Trial sign-up a meaningful metric here? 15k Unique Visitors/mo to their site 1,000 Free Trial sign-ups per monthSecret #4: Measure the Right Things Lincoln Murphy
  • 21. 7 Secrets to Increasing Conversions with Free Trials Is Free Trial sign-up a meaningful metric here? 15k Unique Visitors/mo to their site 1,000 Free Trial sign-ups per month 15 New Customers / Month (1.5%)Secret #4: Measure the Right Things Lincoln Murphy
  • 22. 7 Secrets to Increasing Conversions with Free Trials Is ‘Active’ users meaningful in this scenario? 10k Unique Visitors to your site 500 free trial sign-ups per month 300 (60%) become Active usersSecret #4: Measure the Right Things Lincoln Murphy
  • 23. 7 Secrets to Increasing Conversions with Free Trials Is ‘Active’ users meaningful in this scenario? 10k Unique Visitors to your site 500 free trial sign-ups per month 300 (60%) become Active users 75 Become Customers (25% Active/15% overall)Secret #4: Measure the Right Things Lincoln Murphy
  • 24. 7 Secrets to Increasing Conversions with Free Trials You have to know what you’re measuring and why you’re measuring it so you can look at data that seems to tell a positive story and actually see the anomalies.Secret #4: Measure the Right Things Lincoln Murphy
  • 25. 7 Secrets to Increasing Conversions with Free Trials For instance, one thing I suggest is to develop a set of Common Conversion Activities (CCA) and measure those instead of ‘Active’ users.Secret #4: Measure the Right Things Lincoln Murphy
  • 26. 7 Secrets to Increasing Conversions with Free Trials CCAs are determined by identifying things most customers did - or what you think they should do - during the Free Trial that lead to their sale. (i.e. everyone who converts from a Free Trial to a paying customer added 2 projects and shared those with 3 colleagues).Secret #4: Measure the Right Things Lincoln Murphy
  • 27. 7 Secrets to Increasing Conversions with Free Trials There are many tools you can use to measure and optimize, analytics tools, a/b testing tools, etc.Secret #4: Measure the Right Things Lincoln Murphy
  • 28. 7 Secrets to Increasing Conversions with Free Trials Companies are even building tools specifically for measuring and managing the Sales Process / Free Trials / Churn Management for SaaS & Web Apps - like KISSMetrics, Apptegic & TotangoSecret #4: Measure the Right Things Lincoln Murphy
  • 29. 7 Secrets to Increasing Conversions with Free Trials and theyre all in my Free Trial Dominator program to learn what really needs to be measured so they can build tools that are actually useful!Secret #4: Measure the Right Things Lincoln Murphy
  • 30. For the Ultimate Free Trial Resource Guide, visit:http://sixteenventures.com/free-trial-resource-guide

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