Are You Engaging New Trials in Their Evaluation?
We recently published a study that proves through big-data analysis what many people already know:
Users that are actively engaged a few days into their trial are much more likely to convert to paying customers.
4x times more likely, to be exact. (more details)
This is a great signal for SaaS sales teams that want to identify the accounts that are most likely to convert, but it is also very helpful for marketing and product teams.
Marketing: Relevant, qualified and nurtured new trials are more likely to be engaged once they begin their trial.
Product: A better, clearer and smoother first user experience, increases the amount of trial accounts that actually go through the evaluation.
The question so far has been how to systematically measure the ratio of engaged trials with your offering?
We are pleased to release a new Totango Executive Report which does just that:
Engaged Evaluation (Totango users: View here for your customer base)
A month by month analysis of the percentage of trial accounts that are engaged in their evaluation. Engaged accounts are those that have at least 3 days of active usage during their first two weeks of trial.
The percentage of engaged evaluations is simultaneously an indicator of the quality of the incoming leads and of the first-user-experience your application delivers. For an established business, you should expect at least 20% engaged evaluation, ideally reaching 50% or more.
Monitor this metric on a month by month basis and take actions in marketing, sales or product onboarding to maintain a high ratio of engaged evaluations. To assess leads, you can also break down this information by Source Campaign, in order to identify which marketing campaign are generating the most engaged leads.
– Totango User: See this live for your customer base