A new year, a new start! We continue our blog series with Resolution #5: Make more money! (Improve freemium conversions). Check out all 7 New Year’s Resolutions that will change your Customer Success world for the better!
Resolution #5: Make more money! (Improve freemium conversions)
New Year’s Resolutions are a great way to stay motivated for the year, but the key to picking a truly impactful resolution is to choose something that will pave the way for the life you want to live. Just in case your $1.4 billion Powerball plans didn’t pan out, make a resolution to use your current resources to make more money for you and your business! These days a lot of companies are implementing a freemium model to get users engaged and identifying a need for the product before introducing a paid plan. That said, converting the freemium users to paid users can be very challenging without the right insights into how they are using your product. Make 2016 different, use the right Customer Success solution to get the right data to improve your freemium conversions.
Holy Moly! Proven Results: Cotap is a mobile messaging application designed to improve team collaboration. They use a freemium model to drive adoption before introducing a paid plan for their services. With the right insights into how these free trial customers were using their product they were able to win more paid users.
Brian Murray, VP of Customer Experience, needed a way to enable the sales team with the right information to target high potential freemium users. By implementing Totango, he was able to analyze these trial accounts and properly identify the high potential companies. With a seamless Salesforce integration, automatic alerts were set up to notify the team and allow them to act quickly and ultimately close more deals. With the proper tool and strategy, Cotap was able to improve lead conversions by 150%, doubling the productivity and efficiency of sales reps and ultimately uncovering a goldmine with their freemium requests.
Getting Started: Are you using a freemium model for your product? Understand how your freemium customers are using your product and then start identifying which accounts are more likely to convert and need your attention first. Let us show you how.