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What is the best number of free trials for a SaaS product?
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25/12/2022 12:54 am
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The optimal number of free trials for a SaaS product depends on a variety of criteria, including the type of product being offered, the target demographic, and the general market. When determining the number of free trials for your SaaS product, keep the following factors in mind:
- Product complication: If your product is complex and requires extensive training or onboarding, you may want to provide more free trials so that users can fully grasp and evaluate the features. A shorter free trial period, on the other hand, may be sufficient if your product is straightforward and easy to use.
- Target audience: Consider your target audience's demands and preferences. If you are targeting enterprises with a large number of employees, for example, you may want to give a longer free trial to allow them to test the product with many users.
- Competition: Consider your market's competition. If there are many identical products on the market, you may want to provide a longer free trial to differentiate yourself and allow people more opportunities to test your product.
- Pricing: The cost of your product can have an impact on the number of free trials you provide. If your product is more expensive, you may want to provide additional free trials to allow people to properly try and evaluate the product before committing to a purchase.
- Sales cycle: The number of free trials you give might be influenced by the length of your sales cycle. If your sales cycle is longer, you can consider offering additional free trials to keep potential clients interested.
- Industry norms: Look at what your competitors are doing with free trials to determine if there are any industry standards to follow. This can help you understand what potential customers would expect and provide you with a baseline to work from.
- Trial length: In addition to the number of free trials, the length of each trial should be considered. Some items may require a longer trial period to adequately demonstrate their value, but others may convert users more rapidly.
- Value proposition: Consider your product's value proposition and how long it may take for a potential customer to recognize the value of using it. If your product is more expensive or has a more extensive feature set, a longer trial period may be required to effectively demonstrate its value.
- Consider the cost of gaining each customer and how much you are willing to invest in free trials to convert them. If your client acquisition costs are significant, offering fewer trials may make sense to help offset those costs.
- Customer support: Think about the level of assistance you can provide during the free trial time. You may be able to provide fewer free trials if you have a dedicated customer care team accessible to assist users.
Finally, the optimal number of free trials for your SaaS product will be determined by your specific business demands and objectives. To establish the number of free trials that works best for your product, carefully analyze the variables listed above and test several choices.
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