You have a pod of experts from your dedicated team, occasionally complemented by the C-suite members - to do one task. Get conversions!
Sounds like one task, but it is a whole cycle. And only if the buyer journey for B2B SaaS has been this cakewalk.
B2B companies across the globe invest a fortune to market their offerings right! In this path, Free trials, product demos and freemium spikes the chances of turning users into raving fans.
Don’t take my word for this but from a recent report, B2B businesses offering free trials saw average conversion rates of 66%.
Quite the potential, but in reality, turning free trial, demo prospects hooked and converting them into 'Loyal Customers' requires some unconventional tactics we will discuss in this blog. Consider it your handy guide to funneling in those 'hard to please prospect' with sure shot measures below:
What is a Free Trial in SaaS?
A free trial in SaaS (Software as a Service) is when a company offers potential customers the chance to use their software for a limited time at no cost. Its goal is to let users experience the product before subscribing to a paid plan.
5 Strategies to Turn Free Trial Prospects Into Your Product Advocates
1. Choosing between a Product demo or a free trial
When introducing your SaaS product to potential B2B customers, choosing between a free trial and a product demo is more than one-size-fits-all. It depends on various factors, and understanding when to use each can significantly impact your conversion rates.
Considerations for Using Free Product Demos:
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Personalization: Demos excel when you need a tailored, one-on-one approach. They allow you to focus on your potential customer's specific needs and pain points.
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Complexity: If your software is intricate and requires some handholding to showcase its full potential, a demo can be the ideal starting point.
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Busy Buyers: When your target audience consists of busy professionals who may need more time for a complete free trial setup, a demo offers a quicker and more convenient introduction.
When to Opt for Free Trials?
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Simplicity and Intuition: A free trial can be a great choice if your software boasts an intuitive interface and is easy for users to grasp independently.
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Frequent Check-Ins: Free trials work well when you can provide regular guidance and check-ins to help prospects navigate key features and ensure they get the most out of the trial period.
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Resource Efficiency: Consider free trials to conserve higher-cost sales resources. They allow potential customers to explore your product independently, reducing the need for extensive hands-on support.
Note: There is also a freemium model; the basic version of the software or service is made available to users at no cost, while more advanced features or additional functionality are offered as part of a paid subscription or upgrade.
2. Relearn your Engagement with the most Qualified Leads
The red flag in B2B SaaS marketing is chasing unqualified leads. It's vital to recognize that a lead registered for a demo or free trial may not be an ideal prospect at that stage. Because the intentions vary, some prospects inquire about the offerings. Some are on a learning curve or seeking more product and pricing information.
To weed out this red flag, it makes sense to ask a few questions and look for the possible signs in the CRM to understand the behavioral cycle and place them as your Ideal Candidate profile (ICP).
Recognizing Strong Buying Signals in B2B Software Purchases
- Recognize that software purchases often involve teams, not solo buyers. If there are multiple interactions by a group, it signifies potential consensus-building, and the prospect has an interest.
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Look for prospects diving into advanced content, like hour-long demos and technical webinars. It reflects an active pursuit of understanding and their readiness to invest.
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Always take note when leads initiate direct conversations, such as requesting calls. These inquiries reveal a genuine interest in engaging further.
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Recognize prospects facing similar challenges to your existing customers. This alignment suggests the lead fits your ideal candidate profile (ICP).
3. Keep Laser Focused on Your Messaging
It is good news if you have concrete data-driven email marketing designed to repeatedly and reliably turn leads into buyers across your marketing ecosystem! But still, is the model getting you the conversions you have anticipated?
It goes to all the product marketers who have overlooked the ‘extra work’ on email sequences to strengthen messaging through emails.
Let's find this example of perfectly intact messaging. Prospects can't stop but take action!
How to Align the Messaging?
It is paramount to move beyond self-centered content and tailor your messaging to engage buyers effectively after a trial or demo to their unique needs. Start by conducting discovery sessions to gain insights into their opinions, goals, and expectations. Then, craft targeted calls-to-action (CTAs) that resonate with their journey:
After a free trial or freemium, entice prospects with-
- Success stories
- Value assessment tools
- Customer testimonials
- Exclusive savings.
- Encourage them to request a personalized demo for deeper exploration.
For those who've experienced a demo–
- Provide access to technical documentation
- Planning checklists
- ROI calculators
- Customer success stories
- Expert consultations.
These CTAs align your messaging with their interests and drive them toward informed decisions and conversions.
4.Implement Multi-Channel Outbound Prospecting
In B2B outbound sales, a well-crafted multi-channel approach has emerged as the new norm. Recent statistics also underline the imperative of embracing multi-channel strategies. Over the past five years, the number of channels preferred by B2B clients during their decision-making process has doubled, surging from five channels in 2016 to an astonishing ten in 2021.
You will be amazed that email and chatbots emerge as budget-friendly allies for ongoing engagement, offering convenient touchpoints to provide information and assistance. For a more tailored experience, human touchpoints in the form of calls and chats just before and after a demo or free trial can work wonders.
Also, if you are thinking about live phone support and instructor-led tutorials, you must know the complex journey of B2B users makes it a costly route.
The Promising Path
To strike a balance, consider substituting these high-cost options with accessible online resources. Short, user-friendly how-to videos and FAQs can empower users to navigate your product effectively.
As you craft your outreach strategy, envision a touch pattern that acts as your roadmap. This visual representation maps out which channels you'll utilize, how often, and the intervals between messages to prospects.
It can be structured around key themes or CTAs aligned with the buyer's journey. This dynamic approach ensures you're reaching out and engaging with purpose and precision.
5. Pitch ‘Paid Plan’ with A Plan
Amidst better brand positioning and the right messaging, how to nudge the user for the real action? Because the funnel to closing conversations is constantly aligned with piquing their interest. Less selling of your product, and more offerings for them.
Sounds tricky?
But there is a clear, simplified roadmap to claim success.
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Proactive Messaging: Reach out to prospects with conversion marketing messages before the demo or trial concludes. Keep them informed about the transition to paid plans and the value they can expect.
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Clear Path: Communicate what happens after the trial ends, detailing the process for upgrading to a paid version.
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Compelling Offers: Create irresistible discounts for new paid subscribers.
6. Conversions Claimed now Focus on Customer Retention
Picture the marketing funnel not as a linear path but as an ever-evolving journey beyond mere conversion. And the course that starts from free trial does not end with conversions. Customer retention is significant in maintaining loyal product advocates.
How to Win Lifetime Loyal Product Advocates?
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Personalization is key. Understand your customers' unique needs and adapt your SaaS product accordingly, maintaining a feedback-driven, two-way relationship.
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Keep evolving. Treat your product offering as a living entity, regularly updating and enhancing it to maximize customer value.
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Educate and empower. Provide resources, tutorials, and webinars to equip customers with needed skills.
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Listen and act. Foster a feedback loop that ensures customers feel heard, building trust and loyalty as you address their concerns and aspirations.
Final Thoughts: Free Trial to Paid Conversion
By 2025, approximately 80% of enterprise software providers are anticipated to incorporate free trials or freemium offerings into their business models.
Understand, that the path from offering free trials or freemium products to successfully converting users into paid customers is a strategic roadmap with immense potential for SaaS companies. It is complex, but by adopting the right tactics and mindset, businesses can turn this transitional phase into a seamless and profitable one.
To work together on your product conversions, reach out to me here!