What you can do instead of offering a free trial
What do you do when you’ve got a new customer and they want to try your product or service before paying? Do you offer them free samples or a free trial? You might want to let them try your product or service for a 7 day trial, or a 30 day trial and make sure they’re happy with what you’re offering.
However, the free trial is money you’re missing out on. If you offer a subscription service and offer a 30 day free trial then in the first year they’re only paying for 11 months. If your product is £100 per month, then you’re missing out on £100 each time you offer the trial.
The ideal customer is one who pays in full and up front but it doesn’t always work out like that. An alternative to the 30 day free trial is to offer a 30 day money back guarantee. In essence, you’re offering the same thing, however with the money back guarantee you’re getting the money up front and your client still gets to try your product or service.
Another alternative to the free trial is to ask for a deposit or to take a partial payment up front. You could offer your customer the opportunity to spread the payments over a number of days or set up a payment plan. This can be helpful if you’re offering a high value product or service to enable you to sell to a wider spectrum of customers. This is a common practice used by car manufacturers to enable customers to purchase a high value vehicle, but to pay for it in installments.
You could even limit the product or service and then unlock features as payments are received. For a company selling kitchen installations, they might ask customers for a percentage of the cost up-front, so they can order parts, materials, and pay staff costs. Then they might ask for additional payments at set intervals during the installation and then the remaining balance on completion.
To help customers make more informed purchasing decisions, you could also have quality images of your products and services on your website and literature. You can create video presentations and tutorials to show your products and services in real-life situations.
Finally, having lots of testimonials and genuine customer feedback to share with new and prospective customers can help sell your products and services for you, without ever needing to offer a free trial.
I can help review your products and services and make recommendations on how you can amend your contract to incorporate free trials, money back guarantees, payment plans and arranging partial payments and installments. For more information, please get in touch.