How to Convert Prospects Into Customers
It's no surprise that people are drawn in by the chance to get something for free.
Many companies offer free trials or samples to prospective customers in hopes these individuals will eventually convert, but this isn't always the case - especially when it comes to software-as-a-service applications.
There is little upfront risk for a free trial, but asking someone to commit to a monthly payment is a different matter.
In addition, some companies offer free versions of their platforms, which makes it far more difficult to convert free users into paying customers later on.
Here are some tips to raise your conversion rate:
Create a Sense of Urgency
Instead of offering access to your software for free for an unlimited time, create a sense of urgency by setting a time restriction for free trials.
When people are hooked on your platform, this will make them more likely to enroll for the real thing.
Trials are a valuable way to engage with your audience because customers can see firsthand why your platform delivers value. This helps your sales team make pitches.
If customers genuinely love the solution, they will want to buy right away because they can't enroll for another free trial in the mean time.
Rather than extending the length of time for free trials, you can offer discounts to make the purchase more compelling, such as a discounted rate for the first three months of subscription.
To really create a sense of urgency, try offering a limited time discount to users who used the free trial.
Develop Stronger Buyer Personas
In addition to creating a sense of urgency and giving customers an incentive to purchase, you can develop stronger buyer personas to improve your marketing efforts.
A buyer persona is a fictional representation of your ideal customer.
Think about what your target audience cares about most. What are their pain points? This exercise helps you position your product to be more relevant to your ideal customers.
While you likely have a good idea of your target market, diving deeper into the data helps you appeal to them, according to Business 2 Community.
One of the ways you can gain more information for your buyer personas as well as the gaps in your sales process is to survey customers.
This process also may inform case studies that could be useful for other customers in the future.
Implement Stronger Lead Nurturing Practices
After learning more about your customers and optimizing your messaging, you can better target customers.
People often sign up for free trials after researching different options and comparing solutions.
This means free trials may come at a crucial point in the decision-making process, and you need to follow up at the right time to avoid losing prospects to competitors.
You can nurture prospects with email marketing to engage them over time. Some buyers may not be ready to decide right away or could still be comparing different products.
Nurturing through email reminds them you're around without being too pushy.
When someone registers for a free trial, send an immediate thank you message with some basic frequently asked questions about how to use the product.
In addition, you can follow up at different intervals during the trial asking for feedback and informing users of next steps.
Near the end of the free trial is a great time to give a discounted offer.
How do you convert prospects into customers?