Free-to-Paid Conversion
If you’re looking to increase your free-to-paid conversion rate, it’ll take more than a few onboarding emails and a product tour to nudge users to take action and open their wallets to enter their credit card info. In this course, you’ll learn the Treasure Hunt framework that will turn more of your free users into happy, paying customers.
Here’s what’s inside…
You’re likely putting in a lot of effort (and money!) to acquire free users for your product. If you have a leaky bucket with a low free-to-paid conversion rate, you’re wasting valuable resources and leaving money on the table. In this course, we’ll share proven strategies and frameworks to help you increase your free-to-paid conversion rate and turn more of your free users to paying customers.
When you finish this course, you can humble brag about it for weeks. You won’t just learn a proven framework to turn more free users into paying customers, you’ll also get a shareable certification.
Helpful terms
A metric that tracks the percentage of users that convert to a paid account after signing up for a free account. Divide the number of free users that convert in a given period (usually 30 days), by the total number of free users within that same period, then multiply the result by 100.
The concept of placing users in different groups based on use case, behavior, etc., so that they can be better targeted with relevant experiences and information. For example, new users should not get the same messaging as power users who’ve been around for a long time.
This is the time it takes for a new user to recognize the value of your product or service. When it comes to user onboarding, your goal should be to shrink your users’ time to value.
An adjective that describes anything living inside your product (not exclusive to mobile apps).
An onboarding approach where sales or customer success assist free users in experiencing the product’s value via chat or live call.
A value gap occurs when there’s a discrepancy between the perceived value of a product or service and the value users experience. Poor positioning and messaging is often the root cause of a value gap.
The Jobs-to-be-Done (JTBD) theory is coined by Clay Christensen, innovation expert and bestselling author of Competing Against Luck. In the JTBD framework, people try out products because there is a gap between their current circumstances and final aspiration.
