SaaS Marketing Strategy - Free Trial Success Secret 2: Get Your Product to Sell Itself

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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 #2: Get Your Product to Sell Itself

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SaaS Marketing Strategy - Free Trial Success Secret 2: Get Your Product to Sell Itself

  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 #2: Get Your Product to Sell Itself Lincoln Murphy
  3. 3. 7 Secrets to Increasing Conversions with Free Trials When someone signs-up for your Free Trial, and the product doesn’t sell itself, how do you expect to make a sale?Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  4. 4. 7 Secrets to Increasing Conversions with Free Trials When we see Free Trial conversion rates of < 10% - even for ‘great’ products - it should be very clear that the product won’t sell itself, right?Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  5. 5. 7 Secrets to Increasing Conversions with Free Trials When your sales process fails to convert customers, it’s probably doing exactly what it was designed to do.Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  6. 6. 7 Secrets to Increasing Conversions with Free Trials The reality is simple; your product won’t sell itself...Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  7. 7. 7 Secrets to Increasing Conversions with Free Trials Unless it is DESIGNED to sell itself.Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  8. 8. 7 Secrets to Increasing Conversions with Free Trials Yes, some people will buy based on features even if you have a difficult-to-use product and cannot articulate the value proposition... it’s true.Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  9. 9. 7 Secrets to Increasing Conversions with Free Trials But those people are early adopters and likely dont make up the majority of your market and your opportunitySecret #2: Get Your Product to Sell Itself Lincoln Murphy
  10. 10. 7 Secrets to Increasing Conversions with Free Trials Getting beyond those Early Adopters and to a wider audience (even in vertical / niche markets) should be the goal.Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  11. 11. 7 Secrets to Increasing Conversions with Free Trials But that doesn’t happen by accidentSecret #2: Get Your Product to Sell Itself Lincoln Murphy
  12. 12. 7 Secrets to Increasing Conversions with Free Trials The products that seem to ‘sell themselves’ aren’t magic, they are designed to ‘sell themselves’ as part of a highly-scalable customer acquisition processSecret #2: Get Your Product to Sell Itself Lincoln Murphy
  13. 13. 7 Secrets to Increasing Conversions with Free Trials Whether you have a low-touch, e- commerce, self-service sales process or have a team of sales people, designing your product to ‘sell itself’ will add much-needed scalability to your customer acquisition processSecret #2: Get Your Product to Sell Itself Lincoln Murphy
  14. 14. 7 Secrets to Increasing Conversions with Free Trials When you get into the right mindset around Free Trials youll realize how most vendors do this wrongSecret #2: Get Your Product to Sell Itself Lincoln Murphy
  15. 15. 7 Secrets to Increasing Conversions with Free Trials And probably how you’re doing it wrong!Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  16. 16. 7 Secrets to Increasing Conversions with Free Trials So how do you design a product to sell itself?Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  17. 17. 7 Secrets to Increasing Conversions with Free Trials For most SaaS & Web App vendors, it starts with the Free Trial!Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  18. 18. 7 Secrets to Increasing Conversions with Free Trials For most SaaS & Web App vendors, the Free Trial is a black hole...Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  19. 19. 7 Secrets to Increasing Conversions with Free Trials A black hole where they send potential customers to die (not literally, I hope)...Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  20. 20. 7 Secrets to Increasing Conversions with Free Trials Here’s a typical scenario I run into...Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  21. 21. 7 Secrets to Increasing Conversions with Free Trials A vendor has a great marketing website with a good amount of traffic (very often paid traffic)Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  22. 22. 7 Secrets to Increasing Conversions with Free Trials Through on-site optimization they get a good amount of people to sign-up for the trial every month...Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  23. 23. 7 Secrets to Increasing Conversions with Free Trials And once the potential customers sign-up for the Free Trial, most of them leave after logging in only one time, never to be heard from again!Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  24. 24. 7 Secrets to Increasing Conversions with Free Trials Very few ever come back for a second look, let alone sign-up as customers!Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  25. 25. 7 Secrets to Increasing Conversions with Free Trials So what happened?Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  26. 26. 7 Secrets to Increasing Conversions with Free Trials The vendor didn’t look at Free Trials the right way!Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  27. 27. 7 Secrets to Increasing Conversions with Free Trials They thought the product would sell itself to people who were interested in simply poking around and kicking the tires.Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  28. 28. 7 Secrets to Increasing Conversions with Free Trials I like this real estate analogy... which agent is going to sell a house faster and at a higher price?Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  29. 29. 7 Secrets to Increasing Conversions with Free Trials The agent who gets a bunch of people to the front door, opens the door to let them into an empty house to look around on their own while they read the newspaper, allowing people to come and go as they please? Or...Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  30. 30. 7 Secrets to Increasing Conversions with Free Trials The agent that greets them at the door, tells them what they’re going to see when they enter and guides them through the professionally staged home in a specific path, and gets them so emotionally invested in the home, neighborhood, school system, their kids’ future, their grandkids’ future, that they are ready to make an offer right then?Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  31. 31. 7 Secrets to Increasing Conversions with Free Trials I’m going to go with the second agent.Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  32. 32. 7 Secrets to Increasing Conversions with Free Trials The house is the same… the underlying product is the same. It is how it is presented and how you engage and pull in the user through the experience; how well you get them invested.Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  33. 33. 7 Secrets to Increasing Conversions with Free Trials You can’t let someone come into your app and not know EXACTLY what to do to get started!Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  34. 34. 7 Secrets to Increasing Conversions with Free Trials This is where most SaaS & Web App vendors completely drop the ball and why their Free Trial conversion rates are so low... the product isn’t designed to sell itself and yet that’s what they’re banking on!Secret #2: Get Your Product to Sell Itself Lincoln Murphy
  35. 35. For the Ultimate Free Trial Resource Guide, visit:http://sixteenventures.com/free-trial-resource-guide

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