Connect with us

Blockchain

SaaS Free Trial Conversion Rate Benchmarks + Interactive Calculator

Published

on

SaaS Free Trial Conversion Benchmarks

Do you know if your product’s Free Trial is hitting industry conversion benchmarks? If not, you could be leaving a lot of money on the table. This article will help you determine just how much is being potentially lost and make sure you’re picking the right type of trial for your customer acquisition model.

In Starship Troopers, author Robert A. Heinlein said, “There’s no such thing as a free lunch.” In other words, there’s always a price to pay, even if it seems free. This is equally true when getting something for free as it is when giving something for free. As SaaS business decision-makers, figuring out how to use “free” in your conversion funnel is not easy. And mistakes can be costly. 

If you’re leveraging a trial as your primary customer acquisition strategy, then your definition of a “free trial” can be the crux of your product’s success. In this article, we’ll explore the two main trial types, how to leverage them, and how to know if your trial conversions are hitting benchmark numbers. 

Side note: If you are looking to know if you should be doing a demo or a free trial check out “SaaS: Free Trial, Demo or Neither?”

A Tale of Two Trials: Opt-in Trials vs. Opt-out Trials

When it comes to trials there are two primary approaches in the SaaS market, opt-in vs opt-out. Let’s take a look at the components of each.

Opt-in Trials (Standard Free Trials)

This is the traditional free trial you most likely default to. Signing up does not cost a dime and allows users to quickly immerse themselves in your product before committing to a purchase. 

There is only one type of opt-in free trial:

  • Standard Free Trials (Opt-in): This is defined by the need to manually opt-in at the end of your trial to become a paying subscriber. In other words, you don’t get automatically upgraded when the trial ends.

The Challenge: When it comes to standard free trials, the biggest hurdle is getting the user to the aha moment (delivering on the promise of your business) during their trial that ultimately compels them to upgrade.

 

Opt-out Trials

Here prospective customers are asked to enter their credit card details and either pay a small fee upfront or, more commonly, gain access without a charge but require your credit card details. But in both cases, if they don’t opt-out before the trial period ends, then they will be charged and automatically become a paying customer. 

Let’s look at the two types of opt-out trials:

  • Opt-out Free Trials: This is when credit card details are required in order to access the trial and you have to opt-out in order to not become a paying subscriber. If you do not actively opt-out at the end of the trial you will be automatically upgraded to a paying subscriber.
  • Opt-out Paid Trials: This is when a small fee is charged upfront in order to access the trial (or when the first month is charged but can be refunded within the designated trial period).  Again, if you do not actively opt-out at the end of the trial you will be automatically upgraded and become a paying subscriber.

The Challenge: Opt-out trials’ biggest challenge is getting visitors to sign up for a trial in the first place since it requires an immediate commitment.

Why Should You Care? Well, They Convert Differently

Let’s talk about how each trial type converts and give a few examples to understand the potential outcomes if each trial type were to meet our trial conversion benchmarks. 

First, let’s define what we are calling benchmarks.

We are considering benchmarks to be the ideal numbers that we know are achievable from our experience. Here are a few definitions to clear things up a bit:

  1. Industry Benchmarks –  the ideal number that if matched or surpassed we consider your trial to be optimized.
  2. Industry Benchmarks Range – the range that shows the low end and high end of an optimized trial. 
  3. Industry Averages – the average conversion rate within the industry. Note: This does not determine that if you business meets an industry average that it is ideal. 

For this article, we will be concentrating on #1, Industry Benchmarks. This will be a single conversion rate number that falls in the middle of the benchmark range that we consider ideal.

We have gathered our benchmark data from working with hundreds of SaaS businesses along with agreeing with a few trusted articles. 

  • Quora – This post concentrates on the Visitor to Trial conversion rates. We believe 2% is an accurate number from our experience on a Standard Free Trial. However, they will decrease with an Opt-out trial type.
  • Sixteen Ventures – This article mainly focuses on Trial to Paying Customer conversion rates.
  • Totango – This resource is a bit dated and we don’t agree with all of the data but we do agree with the number of customers retained after 90 Days.

So let’s get down to it and look at how each trial type converts. To show an example we need to start with the number of unique visits to your site. For this example we will start with 10,000 visitors:

Read the full article on InnerTrends, here!

Key Resource: 
Use this SaaS Free Trial Benchmarks Calculator to plug in your own numbers and find out if your product’s trial conversion rates meet industry standards based on your current acquisition model. 

SaaS Free Trial Conversion Benchmarks Calculator

Source: https://www.inturact.com/blog/saas-free-trial-conversion-benchmarks

Blockchain

BTG Pactual becomes first bank in Brazil to participate directly in the crypto market

Published

on

Financial institutions have been increasingly keen on being part of the booming $2 trillion cryptocurrency market, with over 13 of the world’s largest banks pushing roughly $3 billion in funding so far, into cryptocurrency. The latest major news came from Brazil.

One of the leading Brazilian investment banks BTG Pactual has been trending within the crypto community. It launched a new platform enabling customers to make direct investments in cryptocurrencies. Ergo, making it the first major financial institution in Brazil to participate directly in the crypto market.

According to local news outlet, The Rio Times,

“…the launch of Mynt, a platform that allows BTG Pactual Digital and BTG+ clients to trade directly, cryptocurrencies such as bitcoin and ether.”

Andre Porthilo, BTG Pactual’s head of digital assets, stated,

“At this first moment, we will have the two main assets of the market, but we will include other cryptos for trading over time. We will have a complete platform with blockchain-based assets.”

One thing that remained in common with different banks incorporating these tokens is the fact that they have been responding to “demand from our customers who wish to trade crypto.” This news is no different.

Plans

BTG Pactual CEO, Roberto Sallouti laid out his plan of action with this development. He opined, “As a new asset class, we will also have content to educate and inform our customers about these assets and the technology.”

Needless to say, Brazil has witnessed an immense amount of crypto traction. That said, regulators too have taken steps to curb illicit activities. As asserted by the CEO, the said bank will be regulated by both the Brazilian Securities Commission and the local central bank. Moreover,

“With the support of BTG Pactual, Mynt has fundamental differentials in security and credibility…”

Past

The said bank had previously incorporated digital assets in previous operations as well. In 2019, it launched its real estate-backed security token ReitBZ. This step was executed post-examining digital assets for a couple of years. Just recently, the bank announced collaboration with Gemini, the U.S.-based crypto exchange. Gemini provided custody services to the first Bitcoin fund issued by a Brazilian investment bank.

Where to Invest?

Subscribe to our newsletter

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://ambcrypto.com/btgpactual-becomes-first-bank-in-brazil-to-participate-directly-in-the-crypto-market

Continue Reading

News

Basel Committee Crypto Rules Face Backlash

Published

on

By

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://cryptobriefing.com/basel-committee-crypto-rules-face-backlash/?utm_source=main_feed&utm_medium=rss

Continue Reading

Blockchain

Ethereum NFT Game Sorare Fantasy Soccer Raised $680 Million

Published

on

Ethereum NFT game Sorare fantasy soccer just raised $680 million and it is now valued at $4.3 billion while launching a US office so let’s read more today in our latest Ethereum news.

The Ethereum NFT game Sorare fantasy soccer raised $680 million and the french startup now plans to expand into other sports as well as to onboard women’s soccer teams and US office. Sorare is an Ethereum-based fantasy soccer game based on NFT trading cards and grew dramatically in 2021 with a rising base and huge trading volume not to mention the new licensed teams in the mix. Today, however, the startup is using the momentum with the announcement of a new funding round.

NFT Game Founder, scammer, eth, cryptopunks

The $680 million Series B round values the company at $4.3 billion after a $50 million Series A round which was announced back in February and the new series was led by Japanese tech and investment conglomerate SoftBank that has a number of crypto industry dealings through SBI holdings financial services division. Sorare is focused on soccer with players from more than 175 licensed clubs like FC Barcelona, Juventus FC, and Paris Saint Germain FC as some of the most popular. Nicolas Julia, the co-founder and CEO of Sorare said that this week the company plans to expand into other sports and it will open a US-based office in the upcoming months to help “continue to grow with fans and sports leagues.” He continued:

ADVERTISEMENT

“We have ambitious plans to keep growing Sorare into a sports entertainment giant. The new funding will be used to help us continue to grow a world-class team, expand to new leagues and new sports, and keep improving our experience for users, including shipping a mobile app.”

nba top shot

Dapper Labs’ NBA Top Shot is similar to Sorare, built around NFTs and based on professional athletes. An NFT acts like a deed of ownership to a scarce digital item so in the case of Sorare, it’s a digital trading card that can be purchased and resold with each available in limited quantity. One NFT card can even reach $290,000. Unlike Top Shot, however, Sorare has an ongoing game component and is similar to other fantasy sports in that you can choose your top players each week as well as the leagues with other users. Sorare also has close ties with Ubisoft as it took the accelerator program this year.

ADVERTISEMENT

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://www.dcforecasts.com/ethereum-news/ethereum-nft-game-sorare-fantasy-soccer-raised-680-million/

Continue Reading
Blockchain5 days ago

Massive NFT and Token Giveaway from Polker as Staking is Announced!

Blockchain3 days ago

Over 40 days after Ethereum’s EIP-1559, here’s where it stands

News5 days ago

Gods Unchained and Guild of Guardians Layer 2 Solution Immutable Raises $60 Million

Blockchain4 days ago

Cardano Sees an Influx in Smart Contracts ! But There’s a Twist

Blockchain5 days ago

If Shiba Inu is a ‘shitcoin,’ why are exchanges still listing it

Uncategorized3 days ago

NBA 2K22 Limitless Spot-Up and Chef Badges Explained

Blockchain5 days ago

Ethereum, NEO, Dogecoin Price Analysis: 16 September

Uncategorized5 days ago

DeFi comes to Cardano (ADA) as EMURGO announces ‘Astarter’

Blockchain3 days ago

After Targeting BlockFi, State Regulators Now Set Their Eyes On Celsius

Uncategorized5 days ago

Laos Green-Lights Cryptocurrency Trials

Blockchain5 days ago

Bitdefender Releases Tool To Decrypt Files Affected by REvil/Sodinokibi Ransomware

Uncategorized3 days ago

Best Dribble Pull-Up in NBA 2K22: Which to Use

Uncategorized3 days ago

What is The Old Gym in NBA 2K22 Next Gen?

Blockchain5 days ago

Bitcoin Cash: A 40% hike may be incoming from this setup

Uncategorized3 days ago

NFTs Are the Building Blocks of the Metaverse — Here’s How It’s Being Built

Blockchain3 days ago

EY Taps Polygon Network to Improve Enterprise Clients’ Experience 

Uncategorized5 days ago

Tether Claims to Hold no Commercial Paper From Struggling Evergrande

Blockchain2 days ago

Flux Pools autoriza o pagamento de ativos paralelos em mais de 300K Flux!

Uncategorized3 days ago

Shiba Inu (SHIB) Rises to Range High

Blockchain3 days ago

Matic Price to hit $1.75 in the next leg up! Launch on Bitfinex to be the Catalyst?

Trending