The Trial-to-paid conversion rate chart reports the percentage of free trials that have converted to active paying subscribers over time.
You can view this metric at https://app.chartmogul.com/#/reports/charts/trial-paid-conversion.
How is it calculated?
Some setup is required to begin using this metric. Learn how to set up trial-to-paid conversion rate tracking.
This is calculated by taking all free trials created in a given time interval and calculating the percentage of those that have since become active paying subscribers. It is not the number of trials that converted during the time interval. If you have long sales cycles, the conversion rate of months that have already passed could still change as customers from that cohort start converting to become paid subscribers.
When segmenting by plan, the baseline/denominator for the trial-to-paid conversion rate chart is always all the trials that were created in the period of the plan. The numerator is the only aspect that’s segmented by the plan filter. We are planning to add subscription level filtering at a later time to overcome this limitation.
If 10 customers started a trial on May 2020 and 5 of these customers became active paying subscribers, the trial-to-paid conversion rate for May 2020 would be 50%. This would be the case even if the trial period itself ended after May.
What analysis can be gained?
You can use the Trial-to-paid conversion rate chart to track the success of your onboarding process. You can apply filters to see the Trial-to-paid conversion rate for different groups of customers. For example, with Segmentation, the trial-to-paid conversion rate chart enables you to see which channel or advertising campaign provides more qualified leads.
You can drill down into the data table to see a list of all the leads used in the calculation for a specific month by clicking on the cell showing the percentage. If you want to just see those leads that converted, you can toggle the status on the right-hand side to show you those with the status active.