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A/B Testing Idea #300 - Carefully select the period and constraints of your "free trials"
Description
To encourage maximum conversion it is important to pick the right trial length and limitations to play into the idea of scarcity and urgency. Offering a free trial period that is too long can mean that users will postpone engaging with the service and will ultimately fail to convert. Offering one that is too short can be equally discouraging as they will fear that they won't have time to really try all the features of the product. Therefore you need to find the right balance.
You can create a sense of scarcity through either a time limitation or a limitation on the number of features accessible. For example, offer a slightly longer trial of, say, 30 days but only offer them access to the most basic plan with the fewest features. Or, you could keep the trial shorter, say 14 days, but ensure that the trial offers unlimited access to all features, etc. Both of these options will ensure that visitors are left wanting more and will be more likely to convert to paying customers at the end.
Principles
- Loss Aversion (Tversky & Kahneman, 1984)
- Scarcity (Worchel; Lee & Adewole, 1975)
The Research
Loss Aversion
Loss Aversion explains our tendency to strongly prefer avoiding losses over acquiring gains.
Scarcity
The Scarcity effect is the cognitive bias that makes people place a higher value on an object that is scarce and a lower value on one that is available in abundance.
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