What's a good free trial --> paid 💵 conversion % for a SaaS aimed at remote team managers? The intro price right now is $20 per month..
Currently has 72 active managers who signed up 3 weeks ago so free trial is getting over for them soon
My SaaS is https://www.kaapi.team
Strongly depends on the product, product/market fit, the quality of leads that try your product, and if there's a free plan alongside the paid plan.
I thought the best source to find this data ideally would be open startups like those sharing their data with Baremetrics—but unfortunately, Baremetrics Open Startups don't show conversion rates (though you can see other details such as LTV, churn, plan prices that work best, and more). Though their team had blogged about their own trial to paid conversion rate, that they took from 15 to 31% with some tweaks.
That seems like a quite good conversion rate to me. Buffer has an older post about their conversion rate in 2013 that showed an 11.5% trial to paid user conversion rate, while a more recent post gave them a free plan to paid plan conversion of only 1.25% (with over 30% of their paid customers signing up to a paid plain directly without a trial, and their other paid users mainly subscribing during or at the end of the trial). The Groove team's 2013 survey of small business conversion rates showed an average of around 11% trial-to-paid conversion—though their own product had only a 1-4% conversion rate early on.
Would be awesome to get more recent data here! Best of luck with your launch, and would love to hear your conversion rate once you get paid plans launched!
Openview recently published a great report on SaaS product performance. https://openviewpartners.com/productbenchmarks/#.XxII755KhyE. Of the 130+ companies surveyed, top quartile performers converted 20% of web traffic to free trials, and 10% of free trials to paid. This obviously does not take into account the type of products or users, but I still found it helpful as a benchmark figure.
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