Why Trials Often Fail
In my personal experience overseeing training at a software company while also researching practices from other SaaS orientated companies, most trials tend to fail to convert new customers due to lack of controlling the process.
– Reps or product experts don’t engage effectively with buyers in roughly 40% of SaaS-based trials. This gives them little opportunity to overcome objections and to make sure the trial is on track.
– A failure to manage prospect expectations primarily because their success criteria are not properly defined before the trial begins. I cannot stress the importance of establishing expectations from the very beginning.
– A large number of trials fail to even get started. Nearly half of the organizations view trial adoption as a critical issue.
– Reps or product experts don’t take the time to customize the trial experience. I’ll expand on this throughout the week.
A major component is to manage the trial process from beginning to end. While this sounds time-consuming, it will inevitably increase your conversation rate.
This week, I will lay out a simple framework (with context) that allowed me to increase the conversion rate by 50% when I absorbed the trial process as the Product Specialist Lead.