Trials are a major aspect of consumer’s decision-making. While both free and paid trials aim to provide the taste of the product to the consumers, they differ in their approach and outcome.
We consider Free Trial a better option for newbie consumers whereas the paid trial is ideal for experts, established businesses, and trial sites looking for a more committed user base.
But it is crucial to understand the difference between them briefly for both consumers and retailers and to help you learn the difference we have crafted this post mentioning the limitations and benefits of Free and paid trial with other details.
Free Trial vs Paid Trial: In A Nutshell
The free trial allows potential customers to explore the platform without paying anything. In contrast, the paid trial allows potential customers to explore the tool’s functionality in exchange for a small fee.
The free trials do not require credit card details making it easy to begin the trial. The paid trial asks for credit card information to deduct fees after the end of the trial.
Free Trial Benefits
Free trials are generally more beneficial than paid trials. Look at its benefits to understand what makes them beneficial.
- Improves the base of the sales funnel
Free trial attracts more users than paid, increasing the base of the sales funnel i.e. awarding and attracting leads.
- Builds brand trust
The free trial allows customers to explore the platform before spending money on it. This allows the platform to earn the trust of first-time users who do not want to invest money without knowing each aspect of the tool.
- Peace of mind for users
Users do not have to spend any money to claim the trial and this provides them peace of mind while using the tool.
- Do not require cancelation to avoid any charges.
A free trial does not require you to cancel the plan before it ends as there is no fee deduction. This helps the users to enjoy the services without staying alert for any complication related to auto payment.
Free Trial Limitations
Now let’s learn the limitations of a free trial.
- Increased risk of trial misuse
Free trials can attract users who do not want to use the tool for making a purchase, wasting the precious services available for testing the tool.
- Fewer chances of conversion
Since a free trial attracts more users who use the platform without any goal of purchase, the chances of conversion are lesser.
- Increase in production cost
The time and resources utilized for making trial services affect the production cost if the conversion rate does not hit as expected.
Paid Trial Benefits
Let us look at the benefits of paid trials.
- Attracts quality leads
A paid trial, unlike a free trial, attracts potential leads better than a free trial as the trials ask for investment to begin so misusers avoid using it.
- Increases sales
Paid trial attracts quality leads leading to chances of more conversion and increase in sales better than free trials.
- Increases revenue
The amount generated during the sign-up process of paid trials generates revenue for companies even if the users do not end up as customers, the company earns the small trial amount provided for trial access.
Paid Trial Limitations
Let us look at the limitations of the paid trial here.
- Cost involved
Even though paid trials are termed as trials they still involve costs that users wish to avoid when looking for a trial. This deters potential customers who want an entirely free option to explore the platform.
- Increased expectations
Users expect more from the trial if they invest in it. They might expect a longer duration and better features leading to disappointments.
- Reduces trust
Potential leads can lose trust in brand image due to refund policies and the perception of alternatives offering the same service for free, leading to damage to brand image.
What To Choose Between A Free And A Paid Trial?
Both free and paid trials are equally valuable and allow you to make the right purchase decision. Often people go for free trials to avoid any fee deduction but they neglect the fact that they can use the paid trial freely without fee deduction if they cancel it timely.
Therefore, choose the platform that you want to explore and try its free or paid trial without any hesitation. Similarly, businesses should opt for paid trials to retain more customers than attract users.
Conclusion: Paid Trial Is Better Compared to Free One’s
The ideal plan should depend on the reason for your purchase but we recommend paid trials considering the features and experience of the platform which is generally better in paid trials.
The paid trials allow you to clearly describe your goals before paying the fee and add seriousness to your purchase decision.
Whatever decision you make, remember to understand your needs, your financial standing, and alternative trials.
FAQs
Free trials offer premium services of their platform to users without asking for money in exchange making them entirely free for consumers.
Free trials often ask for a small fee to unlock the service, this is done to attract a better user base who are serious about using the trial services.
Many platforms allow you to ask for a trial fee refund. While others do not allow a refund, make sure you check the trial refund policy to know the refund details and amount in detail.