Free Trial to Paid Conversion
According to an industry-wide standard, a free trial to paid conversion rate of anything less than 25% is considered to be poor for this marketing strategy. It means, for example, out of 100 free trial users, if the number of customers who are deciding to purchase your product after their trial period is over is less than 25, then it means you need improvement in your product.
Users, out of their zeal of trying your product for free, self-educate themselves about the product. This saves a lot of time and effort that you need to give them to provide initial training.
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Here are top SaaS onboarding stats you should look out to keep a check on a smoother user onboarding process.
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Land and Expand
In sales, “Land and Expand” is a strategy to land a customer with a small deal, and then sell into the organization to expand your footprint to more seats, additional departments or more products and services.
Land and expand plays out like this in a SaaS:
Offer free delivery, shipping, and returns
In order to obtain gifts for all their loved ones, your customers will most likely need to source products from several places. This means that shipping fees can quickly add up. Increase the chances of converting holiday shoppers by offering free delivery during the holiday season.
Customer Lifecycle Funnel
There are six stages the customer has to go through: Visitor->Prospect->Activated User->Customer->Active Customer->Loyal Customer.
- Each stage that a customer goes through is preceded by a specific action.
- The effectiveness of each stage needs to be tracked and ...
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