Free trial conversion percent
Free Trial Conversion Percent shows you the average percentage of customers that are successfully converted from a free trial to a paid user. It is an incredibly important metric for or SVoD services to monitor. This is ultimately a calculation of the total number of trials that are successfully converted to paid subscribers, divided by the number of eligible trialists to convert on any given day. For something which seems like a simple calculation, we actually take this calculation a step further, taking into account failed billing transactions because of dunning processes as well.
We break it down to smooth out any outliers and get to a consistent number for calculating the monthly conversion rate by taking the daily conversion rate and averaging that over 30 total days. Break this down into different campaigns and customer cohorts to give you an accurate read on how well you are acquiring subscribers.
Measuring the success of each campaign you run and how you quantify conversion should be consistent and straightforward in order to effectively evaluate your success at converting trialists to subscribers.