Free trials were not meant to be created for the purpose of introducing a product in the market. The goal of every free trial offer is to get a share in the market by yielding a high percentage of conversion rates. It is disappointing to hear that there are some businesses who have accepted the fate of 1% conversion rate not doing anything to convince the other 99%. On a recent webinar, Lincoln talked about the remaining 99% of the potential customers. He discussed the importance of focusing to the 99% than to highlight the 1% conversion. According to Lincoln, there is nothing to celebrate in that 1% because that only means that despite your alleged best efforts, you did everything wrong.
The Need to Streamline
Streamlining the free trial is to understand every phase and every reason why you are doing what you are doing. You can never streamline a process unless you know the purpose for its existence. Lincoln discussed three important points on this webinar: free trial is powerful because the outcome will dictate your future in the business; there is a right approach in asking the customers to join and pay the fees and; to succeed in the free trial, learning the life cycle is extremely important. The bottom line, your singular goal is to convert your prospects to customers -that should motivate your every effort.
Lincoln pointed out that everyone who signed up for the service is already a potential customer. This information is very important because when you streamline, that should be on top of your goals. To let the potential customers become your customers. To let the potential customers pay, to let the potential customers enjoy the product and to let the potential customers become the source of your revenue. Work on the larger percentage instead of settling in the low conversion and say that, at least you did get something out of your trial. It’s also nice to stress out the importance of optimization in the context o free trial. Remove all the clutter – the unnecessary part of the trial that will not help you increase your conversion rate.
The Customer is Always Right
Work on what will matter most to the customer and not on what matters most to you. Make the free trial a way to let them experience how easy their life can be if they will sign-up for your service. You need to push the customers to buy but you have to do in a very discreet way. Know the right approach by learning how the customer behaves, what the customers need and what the customers want. It’s always about your customer and not about you. Develop the free trial to acquire customers and not just to let the people know that a certain product exists.
A free trial will be successful if you will have a high conversion rate as the result. Learn all about free trial, their challenges how to overcome those challenges by viewing the entire webinar here.