Have you noticed anything common among the best performing SaaS companies both in private and in public markets?
Public: Slack, HubSpot, Salesforce, Netflix, Adobe, Spotify, Dropbox, Shopify, Zoom, Atlassian, Smartsheet, Asana, DocuSign, Zendesk, Twilio, Workday...
Private: ProfitWell, Clearbit, Amplitude, Lyft, Privy, Vidyard, Codepen, LogMeIn, Appcues, Notion, Mint, Loom, Discord…
They are all offering free-to-paid marketing/sales/product models. Even in completely different industries, even if you are selling to business or to customers, even if your ACV is low or high, even if you are a small startup or a huge corporation - it all comes down to adapting to how your buyers… buy!
While sales teams are not going anywhere anytime soon, we should be working on optimizing their time and the overall performance of the marketing and product teams. This requires not only launching a lighter version of your product, but strategically and systematically mapping out and planning how to both use a free version to amplify your top of the funnel and a pricing and positioning strategy to intensify conversions at the middle and top of the funnel.
While in 2003, there were benchmarks showing conversions around 1-3%, nowadays you don't have to go too far to find companies with a conversion rate as high as 50%.
At this workshop, Eric Keating, who has been helping startups and Fortune 500 companies plan, build and optimize their conversion from free to paid for years, will be guiding us through how to achieve the same level of success and make the most out of this strategy.