Free trials conversion to paid customer

[sparechange]

Anyone have success with this model? My product is fairly cheap to make and I'm considering giving this a go.

Offer xx free product and if they like it convert them to a subscription package or offer product at __ price if they'd like more.

Thoughts?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[aeden]

Anyone have success with this model? My product is fairly cheap to make and I'm considering giving this a go.

Offer xx free product and if they like it convert them to a subscription package or offer product at __ price if they'd like more.

Thoughts?

Yes, but for digital services, not for physical products. I offer a free 30 day trial (credit card required) that is fully functional. Customers can cancel their subscription at any time. There was a recent Built to Sell podcast about Pura Vida (Built to Sell News: Pura Vida Acquired For $75 Million ++ - Built to Sell) and they gave away a good amount of their product at first to gain traction. I'm sure there are other examples as well where products are given away for free to acquire a customer.

 

[sparechange]

Yes, but for digital services, not for physical products. I offer a free 30 day trial (credit card required) that is fully functional. Customers can cancel their subscription at any time. There was a recent Built to Sell podcast about Pura Vida (Built to Sell News: Pura Vida Acquired For $75 Million ++ - Built to Sell) and they gave away a good amount of their product at first to gain traction. I'm sure there are other examples as well where products are given away for free to acquire a customer.

Wow! 75m for a bracelet company, I looked at they're products and they are insanely overpriced, gonna check out this podcast thanks!

 

[sparechange]

Just listened to the whole thing what an amazing story

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[guidaccio05]

I've done free + shipping in the past and it worked decent, but not as good as full price. But if it is a giveaway type of lead capturing then it could work !

I think the key is to really define the backend funnel and make sure that the offer is wanted.

 

[BigRomeDawg]

No experience, but I know that is a popular model for beauty products. There's less resistance for them to try the product, once they are using it, there is more resistance for them to cancel, so they continue using it for convenience.

There will also be some who forget to cancel, but I feel that part is shady, personally, I'd be following up to make sure they actually want to continue subscribing before the first payment.

 

[aeden]

There will also be some who forget to cancel, but I feel that part is shady, personally, I'd be following up to make sure they actually want to continue subscribing before the first payment.

New requirements from Visa are now requiring vendors notify subscribers before they convert from free/trial to full paid: https://usa.visa.com/dam/VCOM/global/support-legal/documents/recurring-vbn-public.pdf . Here is Stripe's post on the change: 2020 Visa Trial Subscription Requirement Changes FAQ : Stripe: Help & Support

Even with this some people will *still* forget to cancel, but I think this is designed to directly address this issue.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[SEBASTlAN]

The free trial didn't work for us. Now we offer a 30-day money back guarantee which seems to bring in more qualified leads.