SaaS Marketing Strategy - Free Trial Success Secret 6: The Perfect Free Trial Length

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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 #6: The Perfect Free Trial Length

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SaaS Marketing Strategy - Free Trial Success Secret 6: The Perfect Free Trial Length

  1. 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. 2. 7 Secrets to Increasing Conversions with Free Trials Secret #6: The Perfect Free Trial Length Lincoln Murphy
  3. 3. 7 Secrets to Increasing Conversions with Free Trials 30- and 14-day Free Trials are common among B2B SaaS & Web App vendors, but there isn’t a rule that says one is better than the other.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  4. 4. 7 Secrets to Increasing Conversions with Free Trials One of the key psychological elements of a Free Trial is its time-limited nature.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  5. 5. 7 Secrets to Increasing Conversions with Free Trials Paradoxically then, the quest for the mythical “ideal Free Trial length” is a misguided pursuit.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  6. 6. 7 Secrets to Increasing Conversions with Free Trials Many people want to believe there is a magic number – 7, 14, 15, 30, 45, 60, 90; like playing the lottery – that when applied to their Free Trial will skyrocket conversions.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  7. 7. 7 Secrets to Increasing Conversions with Free Trials And of course the flipside of that way of thinking is that if the Free Trial isn’t converting customers, it must be the length that is the culprit.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  8. 8. 7 Secrets to Increasing Conversions with Free Trials But very rarely – never in my direct experience – does the length of the Free Trial have a major impact on conversions.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  9. 9. 7 Secrets to Increasing Conversions with Free Trials It can have an impact on Free Trial sign- ups since, from the customer side, if the Free Trial is perceived to be too short, they might feel rushed and might not sign-up in the first place.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  10. 10. 7 Secrets to Increasing Conversions with Free Trials And there are examples of using shorter trial periods to position a product or a version as simple; like how Salesforce.com has a 7-day trial on their simple Contact Management product vs. a 30-day trial on their “Enterprise” product.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  11. 11. 7 Secrets to Increasing Conversions with Free Trials Look, the perfect Free Trial length from the customer standpoint – what you use in your marketing – is one that gives the perception of being long enough to adequately evaluate the product and not feel rushed.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  12. 12. 7 Secrets to Increasing Conversions with Free Trials From your side – the vendor side – on the other hand, the perfect Free Trial length is as short as possible!Secret #6: The Perfect Free Trial Length Lincoln Murphy
  13. 13. 7 Secrets to Increasing Conversions with Free Trials That means not waiting until the end of the trial to convert, but leveraging the Free Trial experience, and using a strategic view of the Free Trial, as a way to accelerate customer acquisition!Secret #6: The Perfect Free Trial Length Lincoln Murphy
  14. 14. 7 Secrets to Increasing Conversions with Free Trials In my experience, the average time from sign-up to conversion with a 30-Day Free Trial is… 31 days.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  15. 15. 7 Secrets to Increasing Conversions with Free Trials That’s because SaaS and Web App vendors - perhaps this includes you - simply don’t understand how to use a Free Trial to efficiently create customers.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  16. 16. 7 Secrets to Increasing Conversions with Free Trials Maybe you send an email reminding them that their trial is expiring soon and hope the user will be like “oh, yeah… my trial is expiring, I guess I better sign-up!”Secret #6: The Perfect Free Trial Length Lincoln Murphy
  17. 17. 7 Secrets to Increasing Conversions with Free Trials The Free Trial Length is simply a marketing tool that makes people feel comfortable signing-up for your Free Trial.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  18. 18. 7 Secrets to Increasing Conversions with Free Trials It is your job to create a Free Trial experience that converts them to a paying customer ASAP and over time, the percentage of customers that took the full Free Trial length (or longer) to convert will go down.Secret #6: The Perfect Free Trial Length Lincoln Murphy
  19. 19. For the Ultimate Free Trial Resource Guide, visit:http://sixteenventures.com/free-trial-resource-guide

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