Growth

How to Grow Your Business with Free Trials

By.
Danny Garcia
October 22, 2022

Everybody loves free trials. Whether you're a fitness entrepreneur or not, you've probably tried out free trials at some point. While you may not convert on every free trial, you might still buy something that started out as one. If you hadn't tried the product, would you still have purchased it?

A successful free trial strategy is a great way to increase recurring subscriptions. By giving your prospect the chance to have access to your paid content for a set period of time you create awards, interest, desire and since it’s low-risk and high-gain it’s an easy action to take.

In this blog, we'll take a look at why offer a Free Trial in the fitness industry, the pros and cons, we will dive into the steps to set up your free trial and finally answer the tough questions, if it’s worth it. 

 

  1. Why Offer a Free Trial
  2. Pros and cons of free trials
  3. How long should a free trial last?
  4. Set up a successful trial that converts
  5. Do Free Trials Increase revenue?

Why Offer a Free Trial for Memberships or Other Content?

A free trial is a great way to get to know your potential customers before asking them to commit to a purchase. However, it comes with a moderate risk. This is why it's important to consider the pros and cons of this approach when it comes to creating content.

Pros and Cons

A free trial is a powerful way to introduce yourself to your potential customers, as it allows them to get to know you and what you're about. It's also a great way to research products and services before making a purchase. There are a variety of disadvantages to free trials, but they're generally associated with losing money and wasting time.

Pros

Increase Prospects

Providing a taste of your Unique Offer

Getting More Leads

Collecting Feedback

Cons

Investing your Money

Investing your Time

How long should a free trial last?

Free trials are generally as long as they need to be in order to encourage leads to convert. For instance, in the fitness industry, the standard is around 3 to 7 days. Other businesses will typically give you longer free trials of up to 30 days. If you can afford to give your customers a longer trial period, go for it. The longer you can give them access to your exclusive content, the better their chances of converting.

Set up a successful trial that converts

The main goal to set up a trial is to grow your business, and conversation becomes the key metric to measure success. 

Using a carded free trial methodology becomes your best friend. This way you reduce the number of people that don't have the intention of ever purchasing your services, and increase the quality of your leads. 

Now, what’s a carded Free Trial?

This is a method when you ask for credit card details at sign up, and automatically charge for the first month or year of subscription when the trial expires. If the trial member cancels before the trial ends, their credit card won't be charged. 

What do you need to set up a free trial?

Ok, now you are ready to offer your services, what’s next? Here at Fitune, we have set up easy 5 steps to help you set up your successful free trial today. 

Step 1 - Identify the service you would like to offer in a free trial.

Step 2- Limit the time you will offer your trial.

Step 3- Build awareness and attract leads.

Step 4- Have a reliable website like Fitune where to funnel your prospects to.

Step 5- Follow up and nurture your new leads.

Fitune allows you to offer a free trial for any and all of your services. It can work as a landing page, and with its Stripe integration, you can offer a secure payment method.

Conclusion 

Do Free Trials Increase revenue?

Unfortunately, many people who sign up for free trials might cancel their subscriptions before the period ends. Without any tools, it can be very hard for Fitness entrepreneurs to convert leads into a paid subscription due to the complexity of successfully managing them. 

However, with the right methodology, you can have your own membership base, and convert them into recurring paying customers. Using management tools such as Fitune will improve your efforts in attracting and converting more leads.

To improve the experience we recommend sending prospects reminders before their free trial expires so they can make their own decision about whether or not they want to join. At the same time, this will help you nurture your prospects, get feedback from them, and reduce early cancellations. 

If you don’t have an account yet, you can try us today, just click here and start offering your service in a more professional and secure way.

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Danny Garcia
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