Using Free Trials as an Efficient & Profitable Way to Generate Sales
- Posted on March 24, 2022 by natalia
- Reading time about 5 minutes
Right after a business or product launch, every brand thinks of promoting the same. Though there can be many approaches to do that, which includes having a loyalty management software solution or simply having a smart option like free trial customer loyalty software.
Most of the businesses today are focusing on marketing their products and offering services to the customers in the most innovative possible way! It’s important to know that the your customers should always understand and grasp the exact value proposition offered by the brand. At the same time, the brand must also understand how to cater their customers and find the best way to engage them as well.
Why Product/Service Marketing Fails?
Brands are constantly offering products and services to their customers and in the attempt to sell the same there are levels of communications which are accomplished. For instance, a brand selling their service to their prospects may connect with them over a call or might make a physical meeting appointment to discuss the features and benefits around the service offered. Lots of presentations and proposals are shared in the interim but, the prospects something don’t response after the first level communication or fail to understand the value proposition of the brand. Some might also discard the proposal just because they don’t understand how the product or service will serve a purpose.
This sort of incidence is quite common and therefore it’s the major cause of the failure of any product and service marketing.
Now when all the tactics fail, there’s a different approach to educate prospects and make sure they understand it well. The brands can choose having a free trial loyalty software wherein they can cater a set of customers offering them a quick free trial of the entire platform. Here the prospects can have a look to the platform, understand the features and simultaneously realize the fact that the system can benefit their business ideologies. A survey states that this sort of program proves extremely beneficial and serve a higher rate of conversion than any sort of communication channels between the brand and their customers.
Free trial gives a complete access to the prospects to witness the functions ad features with all kinds of personalization and support required.
Benefits and Holdbacks of Introducing Free Trail Feature
Everything comes with its pros and cons, which may help a brand in deciding what should the best option for their business. Let’s have a look at the pointers-
- Increase in Customer Satisfaction
There are two scenarios which can take place once prospects take a free trail. In a positive sense they might like the platform and find it relevant enough to go forward with but, in other base if they do not like your platform or find it less lucrative, they might end up spoiling the referrals and can lead negative word of moth marketing too. Though as a brand one thing you can always look upto is providing your customers/prospects exactly what they expect to receive. Free trial is a great opportunity for any brand to show customers how they can be of a purpose. It increases transparency and diminish the possibility of unrealistic customer expectation which could lead to disappointments in the later phase of the customer journey.
- It Reduces the need of Aggressive Marketing
Whenever you’re selling a product or service, you must ensure that there’s a sales team who’re working hard in spreading the right message. Once you have a free trial option in action, it practically sells itself if the prospective customers are able to understand and analyze what you’re offering without the need of you constantly reminding on the same. Undoubtedly, your sales team would surely feel lighter and can focus on the bringing in new customers or entertaining their queries at the same time.
- It proves as an extremely Impactful Sales Strategy
Despite all the sorts of risks, having a free trial is a powerful strategy that can lower the cost of acquiring new customers. While, free trials works best for the brands who’re attempting to sell an intangible products or service like software, applications, games and analytics. Though it can also be beneficial for selling products or goods likes tools, vehicles, etc. while, the good needs a proper place to store and employees to look after, ensuring that the goods are safe, there’s no theft around and are in a proper condition to be sold. Apart from all this, free trial can be a benefit in educating customers without getting in a communication and engaging a huge team to look after the customer communication journey. Well, that’s quite an impressive aspect, must not overlooked!
Seeing the current scenario, wherein brands are willing to sell their products/ services and make sure they’re not running over budget as well, there’s an option to target a set of prospects with free trial customer loyalty software. As a brand you must have the right steps in mind before getting started, decide on time-bound free trails after checking your company’s finances. Enable a limited capability option where customers on free trial cannot make complete usage of your features and services. As a trial should just be an overview of your product or service and not free opportunity to avail all services without paying a penny for your hardwork! So, race up your business objectives with a free trial feature to boost sales and revenue.