Since we do something really different, I thought I'd share:
Almost uniquely among services that offer freemium, ours is extremely crippled. We offer only one project and no invoicing.
Most people who sign up for the free plan (instead of the 30-day paid trial) are just window-shoppers -- only 17%-20% on a monthly basis actually ever enter more than 5 entries. And entering 5 entries takes less than 30 seconds, so that's a ridiculously low bar. (We count these as "active.")
But of those, 25-35% upgrade to a paid plan.
That leaves us with a 3-5% free-to-paid rate out of the total pool of free accounts, which is normal. But what really makes me excited about it is the % of active users who upgrade.
I chalk this up to the extremely limited nature of the free account -- it makes a good case for the software, it's a good first taste, but if you want to really use it, you have to pay.
People are afraid of this strategy, but it works very well for us.
So now, other than broadening the mouth of our funnel as Spencer put it, my main focus is on increasing the "consumption" of new users (getting them to really give it a good try-out). Based on that active-only conversion rate, to use it is to love it. So if I can only get more people to actually use it...
Since we do something really different, I thought I'd share:
Almost uniquely among services that offer freemium, ours is extremely crippled. We offer only one project and no invoicing.
Most people who sign up for the free plan (instead of the 30-day paid trial) are just window-shoppers -- only 17%-20% on a monthly basis actually ever enter more than 5 entries. And entering 5 entries takes less than 30 seconds, so that's a ridiculously low bar. (We count these as "active.")
But of those, 25-35% upgrade to a paid plan.
That leaves us with a 3-5% free-to-paid rate out of the total pool of free accounts, which is normal. But what really makes me excited about it is the % of active users who upgrade.
I chalk this up to the extremely limited nature of the free account -- it makes a good case for the software, it's a good first taste, but if you want to really use it, you have to pay.
People are afraid of this strategy, but it works very well for us.
So now, other than broadening the mouth of our funnel as Spencer put it, my main focus is on increasing the "consumption" of new users (getting them to really give it a good try-out). Based on that active-only conversion rate, to use it is to love it. So if I can only get more people to actually use it...