🌠An insanely ridiculous conversion rate of 40+%?

Ever wake up one morning and think to yourself:

“Jeepers self – I wonder what one would think a conversion rate of 40+% from freemium to paid would involve?”

If not, not to fear, neither did I.

However, after just learning of a school shooting threat at my kid’s school, *and* having done everything possible at my end of the wire (read: checked upon teachers, friends and the like – methinks it will end up being a scare with no reality behind it), let me tell you – hunting down conversion rates of 40+% is a perfectly logical and delightful way to spend your time!

Which is where

https://growrevenue.io/2019/spotify-free-to-paid-case-study/

comes in – that 40+% conversion hails from (I hope you’re sitting down):

Spotify.

To wit:

“In 2015, The Fader reported that out of Spotify’s 75 million monthly users, 20 million are paying customers.

A 26.6% conversion rate is staggering on freemium products.

2019 Q1 data: 217 million active users, 100 million subscribers. That’s 46% conversion rate.”

46%!

Wow, I really want Nerds candy right now.

Just sayin’.

But I digress.

Anywhos!

Tips offered for how to increase subscription rates included:

Stage 1: Reducing friction and increasing virality with Facebook sign-up

Stage 2: Carefully optimized playlists to have specific appeal

Stage 3: Bribe the writer with Nerds candy (I HIGHLY suggest implementing Stage 3 numerous times)

and more!

Increasing conversions is a goal that would make for a grand 1 2 3 cheatsheet topic as well! You could structure it like so:

Step 1.) Decide the coolio must-have benefits your paid subscription will offer

Step 2.) Often the opportunity to upgrade whenever tastefully possible

Step 3.) Consider a viral campaign!

Resources for the above include:

https://databox.com/freemium-conversion-rate

https://medium.com/@the_manifest/4-ways-to-convert-freemium-app-users-to-paid-customers-d568d560c19a

https://blog.hubspot.com/service/freemium

https://www.impactbnd.com/blog/increase-conversions-freemium-justin-rondeau

https://www.quicksprout.com/2018/11/09/how-to-convert-free-trial-and-free-plan-users-into-paying-customers/

https://www.candyindustry.com/articles/88791–eleven-introduces-nerds-candy-flavored-slurpees

Your takeaway?

Free products can be a great way to get people to upgrade to premium ones… why not consider implementing that strategy today?

Enjoy!

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