Startups For the Rest of Us TinySeed Tales 6 | The No Credit Card Trial
Nov 28, 2019
Craig Hewitt, an innovative founder, discusses his strategic decision to implement no credit card trials for his startup, aimed at reducing drop-off rates and improving user onboarding. He shares insights on the challenges and metrics involved in this approach, emphasizing the need for patience to gauge success. The conversation also covers the complexities of big bets, highlights the arrival fallacy in achieving career milestones, and stresses the importance of monitoring key performance indicators for sustainable growth in subscription-based businesses.
AI Snips
Chapters
Transcript
Episode notes
No Credit Card Trial Experiment
- Castos required credit cards for trials for two and a half years, but saw a 60-70% drop-off after separating the signup process into two pages.
- They are now implementing a no-credit-card trial to address this and widen the funnel.
Optimize Onboarding for No CC Trial
- When making significant changes like removing credit card requirements, ensure your onboarding process is optimized.
- Focus on improving trial conversion rates by enhancing in-app experiences and email workflows.
Signup Changes Are Ubiquitous
- Changing your signup process affects every aspect of your business, from email copy to billing logic and in-app experience.
- Plan for these changes; they can take significant time and resources to implement effectively.