No need to call one-self Product-led to acknowledge that in the SaaS world, free trials and freemiums are increasingly sought after acquisition strategies.
And because they act as accelerators of user experience, these are also the most effective tools that SaaS providers have for converting new customers.
Still too often however, companies are missing the real opportunity when they fail to identify and re-engage the users least likely to convert.
The moment a user signs up for a free trial or a freemium, a coordinated effort should be set into motion as the company collects key information and evaluates the likelihood for a conversion.
Using personalized NPS surveys, companies can get feedback from free trial and freemium users. In addition, they can generate targeted actions based on the results in order to follow the health of the relationships and ultimately generate higher conversion rates.
In this process - personalization is key - and 3 questions are paramount:
Who? When? ...and how?
1/Getting ready: NPS and Account NPS
“Different teams and different executives can have heated debates about your product….Who’s right? Net Promoter Score is. It’s the voice of the customer. If you have a high NPS score, you’re doing something right here, no matter the feature gaps or other issues. If it’s low — take action, my friends. Stop being so proud of yourself. Your customers aren’t.” – Jason Lemkin, Venture Capitalist and Founder of SaaStr
Net Promoter Score
While there is no benchmark on the most effective ways to gauge the satisfaction level of your customers, the Net Promoter Score is certainly one of them.
The added bonus is that it asks a simple question which makes it easier for the customer to respond: “How likely are you to recommend our business to your friends or family?”
Measured on a scale of 0 to 10, the respondents are divided into three sections:
Detractors, Passives and Promoters.
Employees are changing companies every 18 months on average. Conducting NPS surveys can thus be useful to detect the promoters that will help you spread the word and build up your reputation in the medium - long term.
Account Net Promoter Score
But how are we perceived by our customer’s team as a whole? That’s yet another very critical information to have - and in the end, you should see it as two sides of the coin.
Because if you want to go further and unleash the full capabilities of your NPS initiatives, you ought to be able to look at NPS scores from an account perspective.
Check out the Account Net Promoter Score, that is the sum or average of the contacts NPS score of a particular customer company. That way, you’ll be able to forecast the mood of your upcoming conversion initiative, up-sell or renewal discussion.
2/Last inventory: who and when
That said, before reaching out to your customers, you’d better know who you are talking to and when you should talk to them.
At a personal level, I guess it would never occur to you to go to a job interview without having googled the company you’re applying to nor checked your interviewer on Linkedin before meeting in person and putting yourself in the position of being assessed and reviewed.
Same thing can be told of a NPS survey.
As such, personalizing a NPS survey is key to unleashing its full potential - and of course, by personalizing, I mean more than being on a first name basis with your user!;)
Precisely, you’ll want to start creating user batches, defined as per your specific activity, market and sector:
Sending a NPS to your customer base, without prior consideration of relationship history, product usage, health, or success would either be pointless - generating yet another metric which will lack perspective and business impact - or very time-consuming all this data were to be aggregated, crossed and processed afterwards.
You should thus start dividing up your free trial and freemium users according to your top buyer persona categories (geography, demography, language etc.)
Time is of the essence. Most particularly so when one is working on increasing user conversion. In that case, you will want to give the appropriate time to your users to have gotten a hold at your solution before asking for their satisfaction feedback.
As a general rule, launching a 1st NPS survey 14 days after sign-up makes a lot of sense.
If your solution is easy to set-up and intended as a self-serve product - you might even want to shorten this average waiting time.
Industry use cases are very important when it comes to defining a general chronological playbook for NPS. But if you are still looking for the perfect timing, you might want to think of event triggered surveys.
This option lets you display surveys when users take a specific action or when they reach a particular state – basically when an event happens.
Not only does this allow you to get targeted feedback on every stage of the user journey, but it also increases the amount of feedback you will get.
When you track the attributes of a healthy trial period, it’s also easy to recognize users who are unlikely to convert. As the free trial period comes to an end for these users, send them a Net Promoter Score survey by email or in-app.
Now, if done properly, your survey results will help you identify the most qualified leads for conversion - keeping you focused and productive.
Collect all customer feedback in one app
Install a customer feedback management platform such as SatisMeter or Delighted in your mobile or web app for the highest response rates. As said earlier, you will be able to segment customers based on attributes and events, and then create workflows that target certain groups of users with in-app surveys - for full maximization.
Automatically send a survey via email to users who don’t respond to in-app messaging. A best practice is to send the follow-up email three days after the last connection.
Customer feedback management platforms can be used to make this process seamless by automatically collecting feedback using NPS and then funneling the results of in-app surveys back to a solution like Salesmachine in real-time.
Get notified when you get a new NPS
Don’t drop the ball once you’ve gotten a new NPS. Integrating with a team collaboration tool like Slack will ensure you never miss a customer’s feedback and you’ll be ready to send a response at the right time. You’ll also be able to share the results of surveys with colleagues and use them to identify issues that need to be solved.
Find NPS in your users profile on Salesmachine
The beauty of a real-time customer scoring platform like Salesmachine is that all the data points you need to define strategic workflows are available in one place.
For example, you can click on a user’s /or account’s profile to find an NPS score, along with any comments the user included with his or her survey. You’ll also be able to see all activities for the account or contact, including the number of sessions and number of campaigns sent.
Adapt your reaction
NPS is a useful number for evaluating and benchmarking your business, but its real value is in the answers to the follow-up questions you get to ask as part of the survey and the following actions you undertake.
With Salesmachine, you can create workflows to adapt your reaction based on fresh data, like the NPS score.
Here’s a good example of how you might respond based on a user’s score:
- 0 to 5: Send email with survey to get more feedback
- 5 to 7: Send email to extend trial for 14 days
- 7 to 10: Send email to offer 30% discount for 3 months
Thanks to the immense possibilities of data crossing, a good tip is also to look at NPS results in light of product adoption.
If a user NPS result is strong and is a good product fit (a VP in a large company for instance) but product adoption is still low - you might want to talk to him and offer him a personalized demo!
Personalized messaging and targeted actions are the keys to higher conversion rates. With so many moving parts in a system like this, it’s important to utilize platforms that can serve as hubs and connect key information from siloed systems.
Try to piece together a workflow this detailed without using a platform like Salesmachine, and you’ll almost certainly drop the ball.
Enjoy your new conversion rate! 😀