What if I told you that five changes to your software could increase revenue 25-50%?
It’s possible because of two facts: most trials don’t convert, and you’re too close to your software to see its obvious flaws.
The conversion rate from visits to sales according to a study presented by Andy Brice is around 1% with specific variations. But the abandon rate on software trials is astonishingly high. In an informal poll of a few software company owners I know, everyone agreed that 80-90% of downloads never become real trials.
In a way, that’s good news, because it means there’s lots of room for improvement. Think about it – if only 20% of your potential customers make the leap from download to trial, shouldn’t it be possible to squeeze out another 5-10%? That would be 25-50% more trials even with the same number of downloads! And more trials means more revenue.