In this blog post, ChartMogul CEO Nick Franklin wrote about a method of making trial-to-paid conversion rate metrics more useful using cohorts. The method measures the percent of trials that convert into paid subscribers within a defined number of days.
One useful analysis is comparing your 30-day trial-to-paid conversion rate against your 90-day trial-to-paid conversion rate to see what percentage of trials convert long after a typical SaaS free trial has expired.
It's possible to measure this in ChartMogul thanks to the Trial-to-paid in days filter attribute.
To use this:
- Navigate to the Trial-to-paid Conversion Rate chart.
- Click Add filter and select Trial-to-paid in days from the attribute's drop-down.
- Choose the Less than operator and define the number of days, e.g., 30.
- Click the ADD button to add the filter.
This will give you your 30-day trial-to-paid conversion rate graph. You can then compare this against segments with longer or shorter Trial-to-paid in days values.