SaaS Marketing Strategy - Free Trial Success Secret 1: No More Evaluations
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Transcript of SaaS Marketing Strategy - Free Trial Success Secret 1: No More Evaluations
The 7 Secrets toFree Trial Success
Turn your ‘Free Trial’ into a Customer-Creating Machine!
Lincoln Murphy Presents...
http://sixteenventures.comLincoln Murphy
7 Secrets to Increasing Conversions with Free Trials
Secret #1: No More Evaluations
Lincoln Murphy
7 Secrets to Increasing Conversions with Free Trials
If you believe people sign-up for your Free Trial to do any of the following:
- Evaluate your product- Try before they buy- Kick the tires- Poke around- Explore- Play around
You've already lost them!
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
You have to believe they are there to start using and then to buy your product.
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
They might think they’re there to do those things but you can’t think that.
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
They might have 8 products to evaluate - all with feature parity - so they sign-up for your trial as a part of that evaluation process.
How can you ensure that yours is the one they end up paying money to use?
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
Get them to use your product rather than evaluate / try / kick tires / etc.
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
It starts with a mindset switch from thinking like the customer who says “I am supposed to be evaluating products...”
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
To thinking like a vendor who says “I’m going to get this person to start using my product and become so engaged and invested that they don’t even evaluate the other products on their list and just buy mine”
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
That is a MASSIVE mindset shift, but that is how your Sales Process - and your Free Trial - can actually become a Competitive Advantage.
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
Sure, they have 7 other products to evaluate, but they don't even get try to the others because your Free Trial strategy actually pulls them in and gets them to use the product rather than simply ‘evaluate’
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
While your 7 competitors wonder what’s going on... all your products are pretty much the same, right?
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
Low-touch sales process or high-touch, it doesn't matter... this is the way it should work.
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
Remember, even though it’s a “Free” Trial, there’s no such thing as “free” from the customer perspective
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
They are “investing” time and resources into your product
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
The more they “invest,” the more likely they are to convert
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
It’s your job to get them invested as much as possible during the Free Trial
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
People don’t invest much in “evaluations” so you need to move them away from evaluation and toward “use”
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
You do this by designing a Free Trial strategy - an experience - around the goal of initial use (Engagement) and deeper use (Investment) to make Conversion the logical choice.
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
This might seem like a simple concept on the surface, but for most of you, it will require a complete mindset shift...
Lincoln MurphySecret #1: No More Evaluations
7 Secrets to Increasing Conversions with Free Trials
but a mindset shift that is totally worth it!
Lincoln MurphySecret #1: No More Evaluations
For the Ultimate Free Trial Resource Guide, visit:
http://sixteenventures.com/free-trial-resource-guide