- Hi there, my name is Dan Martell,
serial entrepreneur, investor and creator of SaaS Academy
and in this video I'm gonna share with you the five steps to
increasing your trial conversions for your
B2B SaaS product.
And be sure to stay to the end where I'm gonna tell you how to
get my trial converting campaign worksheet that's helped my
clients double their trial conversions within three months.
(upbeat music)
So everybody likes to ask,
"Dan, what's the trial conversion metric that
"I'm trying to aim for?
"What would be an ideal situation based on where I'm at,
"where should I target?"
And you know I've been building
software companies now for 20 years.
I've been blessed to have built five companies,
exited the last three, venture backed for the last two and
invested in some of the fastest growing SaaS businesses in the
world like Intercom, I was early in HootSuite and many others and
what I always tell people is if you're not at 25% free trial to
paid conversion then that's your opportunity.
And the reason why is so much is gonna depend on your traffic
source and your messaging and positioning.
I spent a lot of time with my clients on that to dictate how
clients come in your product with your expectations for how
your product actually solves their problem that if you're
anything below 25% that's your opportunity.
Step one, get them situated.
When somebody registers for your product,
the first thing you want to do is walk them through some kind
of on-boarding experience.
Some people call this the free trial,
first-time user experience but it's helping them understand
what your product does.
It maybe three screens, the set up flow to get them
situated before you drop them on a dashboard.
Now, maybe you have a dashboard and you sign up and that's where
you leave them and you have some kind a wizard saying this
feature and here's this and click here next and you kinda
have this like this kind of like demo ability.
That's not what I'm talking about.
I'm talking about helping your new customers,
especially in a trial get situated and understand what
should they expect the product to do and
how you do it specifically.
Step number two, highlight the money moves.
The truth is if you analyze all your most successful customers
and I call this a clickstream analysis if you analyze all of
their clicks and sequences in regards to what they did in
their first login versus the second,
how may times they come back and looked at the commonality of
features they set up, deployed, how they use the product you
would see commonality amongst all those movements.
Those are the money moves those are the moves that if you can
help a customer get to maybe it's installing a script,
maybe it's sending their first invoice,
maybe it's inviting a team member to use the product,
maybe it's generating a report, whatever it is for you if you
can get them to do that, highlight it,
make it simple and fast as possible that's how you get them
to activation and feel the value that your product delivers.
Step number three, show them what's possible.
Show them how customers just like them are using your product
to get incredible results.
So many times companies have incredible case studies or
examples of companies in very similar industries using their
solution to get results but they never tell their
new customers about it.
If I'm trialing a product, if there's an opportunity for me to
tell the solution or the product what industry I'm in and then
have them show me how people just like me are using their
product that's gonna win me over.
I mean birds of a feather flock together.
It creates instant credibility.
It shows the what's possible and it's gonna allow you to convert
those customers a lot faster.
Step number four, teach and support them.
The most important thing you could do is teach
a customer on two axises.
What are the things, I always ask,
what are the things they need to feel and what are things they
need to believe to want to move forward with our product?
And what I've learned over the years is using my blog content
in the messaging and email sequence to teach them how to
use the product or how to think about their business.
Maybe it's the fact that they don't realize that using paper
or a manual workflow is actually very archaic and could hurt
their competitive advantage moving forward.
And any content you can use to teach them would be valuable and
on the support side don't be reactive.
Actually engage with the customer,
monitor their trials, ask them if they need to do a quick demo
or offer a set up situation where you can walk them through
all the different features they need to deploy to actually get
the value from your solution.
Those are two very important things that need to be designed
in the first few days, especially if you're doing short
14 day, 7 day trials of your product.
Step number five, create a trial feedback loop.
No matter if the customer buys the product or if they decide
not to move forward in trial you want to ask them a question.
On the purchase and upgraded, what are they hoping to
accomplish with your solution?
Say I'm super excited to have you there,
could you please just hit reply and answer that question?
And if they don't move forward
with your trial to a paid account,
ask them what was missing for them to make that decision.
You need to use both of those opportunities.
One's moving forward and ones that are not and
learn from that moment.
That's why it's called a feedback loop.
You need to generate in your email sequence a feedback loop
for that situation.
So quick recap, number one get them situated in your product.
Two, highlight the money moves that are gonna get them results.
Three, show them what's possible, case studies.
Four, teach and support them.
Five, create a feedback loop whether they win or they don't
move forward you need to learn.
As I mentioned at the beginning, I want to share with you my
trial converter campaign worksheet.
It is the most powerful way to think about and design your
messaging protocol.
So it talks about the action steps to activate a customer
and what happens in the two streams of an active campaign or
one that is at risk for not moving forward.
You can click the link below and download that.
If you liked this video be sure to click the like button.
Subscribe to my channel and if you know somebody that could
benefit please share this video with them.
Thanks for watching and I will see you in the next video.
Chili willy, nilly, dealy.
Chili willy nilly. Dilly, willie, illy.
Billy, Billy, Willie.
Blah blah blah blah blah. - [Jared] Okay.