Do you ask credit card for trial?
Ankit Sharma
12 replies
I have some facts from- https://www.chargebee.com/blog/c...
Companies that require a credit card upfront have an average conversion rate of 2%, whereas those without credit cards can have a higher conversion rate. Totango reported trials with no credit card had an average visit-to-lead conversion of around 10%, though the lead-to-customer conversion was only around 15%.
Research by SaaS Customer Engagement Platform firm Totango indicates that companies who require a credit card at the time of sign-up experience extremely high conversion rates, with a reported average of 50% trial to paid customer conversions.
Replies
Kai@kai_s
Hey, very interesting discussion here!
It does make sense that someone who is willing to give a credit card (which implies the decision to accept a possible future payment) is going to convert way easier than someone who is not in that stage of compromise.
I don't think someone who first landed on your website by accident is going to give you the credit card out of the blue without doing further research.
On the other hand, someone who doesn't have to acquire that compromise might open a trial account out of curiosity.
We should forget about percentages and study the numbers in base on the total number of users and their whole customer journey to have an accurate answer.
My bet is with the no credit card so I can get more people in and then use that smooth sign-up to accelerate the stages of the customer journey for those users.
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so that the future customers have a total confidence and trigger more easily the desire to test our product Verticalls we do not ask for a card and the test and without commitment
@enola_vedovotto Exaclty! Sometimes we forget that we are all people (not numbers). Without confidence, complete a transaction is going to be hard to :)
Launching soon!
This study will be more useful if we knew the actual number of persons that converted to sales in each scenario. Non-credit card trials have a poor conversion rate since they typically contain many relevant and irrelevant sign-ups for trials, and only those who find the app useful convert to sales.
@qudsia_ali but if the tool is new then how can they trust it quickly?
Currently, we don't.
But you should test to see what makes sense. You may sacrifice conversion rates in exchange for highly qualified leads/users.
I think Requesting credit cards for free trials will help you get more qualified leads, better conversion rates, and shorten your sales process. Not requesting credit cards for free trials will lower user barriers, generate more leads, avoid refunding, and build trust with your users.
My Insite
@indigocardtips but nowadays almost every saas giving trial without credit card. Even the biggest brands do not ask for it and they are still getting good leads.
We are now without credit cards, like without hands. It's impossible to imagine our life without extra quick money. And even more I like the option of getting money before payday. If I need to get money very quickly, I turn to such institutions personal loans Only you need to count on your capabilities to pay off debts in time.
Hey guys! I am moving to the USA next week, I need to choose a bank... How to do that? What credit card is the best?
@emily_harris Congratulations on your move! If you haven't made the choice yet, I can suggest paying attention to MyVanilla prepaid card. I find it to be a secure and convenient way to manage my money. Also, the app is helpful. You can address its customer service here https://myvanilla.pissedconsumer... if interested.