The software-as-a-service (SaaS) market is constantly evolving and expanding, making it even more challenging for companies to stand out from their competitors.
One strategy that more and more businesses are adopting to capture the attention of potential customers and build trust with them is offering free trials of their SaaS products. Free trials allow customers to try before they buy, and can be the catalyst for turning prospects into loyal users.
In this article, we’ll be delving into the many benefits of offering a SaaS free trial.
Ready? Then let’s get into it. 👇
What is a SaaS free trial?
A SaaS free trial provides potential customers with the opportunity to try out a software product for free for a limited period. This strategy allows users to experience the product’s features and benefits firsthand before committing to a purchase.
The length of a free trial usually ranges from 7 days up to a month, but it can very much depend on the product. The aim of the trial period is to allow users enough time to evaluate the software’s functions and suitability for their needs.
There’s no payment required to access a free trial, but some companies can ask for credit card details upon signing up, with the understanding that the user will only be charged if they decide to continue using the SaaS product after the trial has ended.
Ultimately, the aim is to demonstrate the value of the product to potential users and build trust and credibility with them, which will increase your SaaS free trial conversion rate.
Teresa Garanhel
The key benefits of offering a SaaS free trial
So, why should SaaS companies offer a free trial when trying to market their product? What’s in it for them? Let’s dive into the many benefits it can provide both a SaaS businesses and their customers:
First-hand experience
Providing potential customers with first-hand experience of your SaaS product lets them see exactly how it functions and gives them the freedom to explore all its key features and how they can get value from it.
A free trial allows the product to sell itself, and will hopefully convince users to take that final step in purchasing it.
Easy to implement
Free trials are an easy strategy to implement and promote. Unlike creating documentation or tutorials which takes time in terms of research, writing, editing, etc., your software has already been developed, so you just have to provide access to it.
Free trials are ultimately a simple and easy way to generate leads.
Teresa Garanhel
Reduced risk
A free trial allows customers to test out the product and see if it's suitable for their needs without having to financially commit.
One of the major barriers to SaaS adoption for customers is the fear of making the wrong decision and wasting money on a solution that doesn’t provide them with the value they need. A free trial alleviates this fear by allowing them to experience the product for themselves and fully understand what they’d be getting into, making them feel more comfortable and eliminating any buyer’s remorse.
Increased trust and credibility
By offering a free trial, companies are showing how much confidence they have in the quality of their product, and that they’re willing to let the product’s value speak for itself. This openness can build trust and credibility with potential customers, and they can see for themselves whether the software is the right choice for them or not.
Plus, if a user has a positive experience during the free trial, this can significantly increase their trust in the product and means they’re more likely to convert into a paying customer.
Feedback
Another benefit of a free trial period is that it can be a great opportunity to get valuable feedback. The feedback you receive from customers can be used to identify and implement improvements to your product and marketing messaging, which will ultimately help you optimize your offering and increase adoption and user satisfaction in the long term.
Teresa Garanhel
Data collection
When signing up for a free trial, customers usually have to submit personal details, including their email address. Companies can use this information to contact customers in the future about other products and services, even if they don’t go on to purchase the product they signed up to a free trial for.
You can also use this data to carry out analysis and gain valuable insights into customer behaviors, preferences, and interactions with your software. This can help you to identify areas for improvement and tailor your marketing strategies accordingly.
Gaining a deeper understanding of user engagement can also help you develop more effective conversion strategies and turn trial users into paying subscribers.
Create advocates
By delivering a high-quality trial experience and building a trusting relationship with users, you can turn them into advocates for your product. They’ll be happy and willing to shout about their positive experience and recommend your product to others, creating even more potential customers.
Teresa Garanhel
Conclusion
So there you have it; a free trial can be a powerful tool to help you connect your SaaS product to potential customers in a meaningful and risk-free way.
Ultimately, a SaaS free trial isn’t just a pathway to increased sales; it's an opportunity to gather valuable feedback from your audience, understand their needs, and build a foundation of trust and loyalty for your product that goes beyond the trial period.
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