This metric measures the percentage of new trials that are converted to paying customers in a specific period for each plan. For example, if Plan A has 10 trial users and 5 are moved to a paid plan, then the trial conversion rate for that plan is 50%. Similarly, when Plan B has 20 trials and 5 are converted to paid subscribers, then the trial conversion rate for that plan is 25%.
This metric helps you to understand how the trial version of each plan performs and to make decisions on improving the trial conversion rate for that specific plan. You can decide if you have to re-evaluate your product offerings, marketing strategies, onboarding experience, and so on if the trial conversion rate is low for any plans that your business provides.
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