For freemium and free trial SaaS marketers and owners, one of the biggest struggles is converting more free or free trial users into paying users. Wes Bush, a product-led growth consultant and upcoming author of the book Product-Led Growth, shares his secrets to doing just that. Learn why product-qualified leads are so much more “qualified” than marketing-qualified leads, how to increase your freemium or free trial conversion and why are some big mistakes marketers make when implementing product-led growth.
What You’ll Learn in This Episode
- What is “product-led growth” and why it’s become so popular
- Why product-qualified leads (PQL) are so much more qualified than marketing-qualified leads (MQLs)
- The biggest mistake marketers and founders make when launching a freemium or free trial strategy
Tweet Some Quotes from This EpisodeIf you don't know what you're doing with freemium and free trial, you could be giving away your most valuable part of your product and now you're just operating a charity. – @Wes_Bush Click To Tweet Product-qualified lead is so much more powerful than marketing-qualified lead because it's based on what someone actually did in your product, not on vanity metrics. – @Wes_Bush Click To Tweet The goal of your onboarding experience is to experience your product in all it's glory the first time. – @Wes_Bush Click To Tweet Product-led growth is a win-win scenario. You're going to get more upgraded customers, if you help them upgrade their life. – @Wes_Bush Click To Tweet If you have a high-performing free trial, a good free-to-paid conversion rate is 10 to 25 percent. – @Wes_Bush Click To Tweet
About Wesley Bush
Wesley Bush is the founder of Traffic is Currency, where he helps B2B SaaS companies adopt and refine a product-led go-to-market strategy using a free trial or freemium model. If you’re looking to launch or optimize a free trial or freemium model, feel free to connect Wes on Twitter, Linkedin or at TrafficisCurrency.com.
How Wes became a product-led growth consultant
Why has freemium become so popular lately
What is product-qualified lead (PQL) and why is it better than marketing-qualified lead (MQL)
How do you set the threshold for a freemium user to become a product-qualified lead
Wes’ framework for increasing free trial and freemium conversion
The two levers you can use to improve your product’s onboarding experience
Does product-led growth work for any SaaS companies
Does product-led growth work for complex SaaS products?
What are big mistakes founders and marketers make when it comes to onboarding
Should you ask for a credit card before you let a user try your product?
What’s the standard conversion from free-to-paid for SaaS companies
What tools Wes uses
Wes’ tips and advice for markers
What’s going to be in Wes’ upcoming book “Product Led Growth”
Music By The Passion HiFi www.thepassionhifi.com.