5-11-23

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May 11, 2023

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What's Happening

Meta Expands Reels Monetization to More Creators, Updates Payout Process
TikTok Launches ‘TikTok World Hub’ to Share Guides and Insights for Marketers
Twitter Launches Direct Responses in DM Threads

The Optimal Length for a Free TrialAs you know, free trials are quite popular for SaaS businesses. But what is the ideal length of time for a trial and why? Let's turn to the science (courtesy of Ariyh; an evidence-based newsletter for marketers).Here's the deal...📈 RecommendationShorten your free trial to 7 days. People will be more likely to convert and stay in the long term.Personalized trial lengths (e.g. longer trials for experienced users, shorter trials for beginners) could boost your results further, but the increase is small and they are complex and risky to implement.🎓 Findings 7-day free trials (vs 14-day and 30-day) maximized acquisition, retention, and profits. A large-scale field experiment tested 3 trial lengths with 337,724 users of a major SaaS company (anonymous but similar to Microsoft 365, Dropbox, or Adobe). The results found that: 7-day trials increased Subscriptions by 5.59% Retention by 6.4% (2 years after) Revenue by 7.91% 🧠 Why it works The more intensively we use a product during a free trial the more likely we are to buy it. A lack of urgency of long trials means that we feel less pressure to use the product and are more likely to forget about it.To check out how companies are using this and how you should implement, check out the full article here.

Today's Challenge

Are you running a trial for your product or service? If so, maybe it's time to revisit the length of the trial.

If you're looking for a newsletter recommendation, we got you covered. We recently stumbled on Ariyh and are really digging it.The folks at Ariyh send out 1 email per week including 3-min practical marketing recommendations from the latest scientific research of top business schools.It's a free, quick, and jam-packed read.Topics covered include: