How Offering Free Video Content Converts To More Paying Monthly Subscribers

Offering free video content is one of the best ways to attract new viewers and converting them to paying monthly subscribers - yet it is still underused.
How Offering Free Video Content Converts To More Paying Monthly Subscribers

Does it sound odd? The whole of point of having your own video service is to build your customer base and revenue, right? Well, yes, but that’s why free content is a great way to attract new customers.

Would you buy a ticket to a movie without seeing the trailer…? Neither would I. Think of free content as the trailer for your video service. Once the viewers get a taste of what you have to offer, they are more inclined to sign up.

More and more people are turning to streaming services and digital video today than ever before – especially in these trying times. Whether you need a personal workout routine, homework sidekick or have a hearty laugh to wind-down from a tiring day at work – online vides have you covered.  

Many organizations venture into the live streaming business to increase their revenue. Recent studies revealed that the number of people who began streaming videos online increased by 12% in the past year.

This immense growth is driven by the global pandemic that forced millions of people to remain at home. Most of us found entertainment in new movies, TV shows, and other digital videos.

But, learning has also become more compelling with thousands of pre-recorded courses and tutorials offered online.

Although it has been long since viewers drifted away from traditional TV, the widespread availability of accessible video content bolstered the success of streaming. With a plethora of video businesses that have emerged, how can you provide a competitive edge?

Organizations that offer free video content are able to attract a whole new audience. Even though giving away your products for free to make more money seems counterintuitive, it provides more benefits than you can imagine.

One of the most effective ways to generate leads and customer conversion is through attractive offerings. While you are increasing organic traffic with more people streaming on your website, there are also higher chances to convert them into paying customers.

Here is a closer look into the advantages of free video content and the best ways to leverage it to grow your business.


How Businesses Benefit from Free Trials

Everybody likes free. Scratch that, everybody loves free! Even if that free thing only is available for a limited time, people will still take advantage of it. Breaking through the barrier of signing-up allows consumers to give your service a shot – that’s why free trials are so important.

Free trials are also an effective marketing strategy to show-off your videos’ quality. In a way you get two for the price of one. While your audience gets a chance to test the waters, they also get more encouraged when they see your content.

People often take advantage of the trial period to watch a couple of videos and see if they are either entertained or learned something valuable. If your content is their cup of tea, they won’t hesitate to purchase what you offer.

Simultaneously, it eliminates the risk of shelling out cash for something that is not worth the money.

By examining the results of notable streaming companies like Netflix and Amazon Prime Video, it is clear that these services benefited from free trial campaigns.

Netflix revealed that it has been well-received in offering free trials by their community with a whopping 93% conversion rate.

In contrast, Amazon Prime Video may have lower conversions going around 73%. Yet, the outcome is still promising.

There is no risk in offering free video content as a marketing tool. As long as you trust in your product’s value, you should be confident that your customers will respond accordingly. This trial period is the perfect opportunity for them to come to terms with your content and see if they are in it for the long haul.

Ensure Higher Conversion Rates By Providing Quality Content

All of us have varied tastes and preferences. As we move towards an era of digitization, you can find almost everything needed to know online. This wealth of information has created an endless number of topics online and audiences dedicated to them.

Content creators can immerse their viewers in captivating stories. They hold the power to tell them in a way that is both entertaining and moving. With that in mind, videos that provide wisdom and knowledge are always the ones that provide the highest conversion rates.

Remember, that you can teach through on-demand as well as live streaming.

Leveraging Free Content to Succeed in your Video Business

One of the reasons many businesses take advantage of free video content is to gather more information about their target consumers. Those who avail of your free trials are those who are likely interested in what you offer.

Even if you offer someone a free trial and they don’t end up signing on, it doesn’t mean it hasn’t resulted in new customers. People have a tendency to talk about what they’ve recently seen to their friends and family, motivating them to check out your stuff.

Among many other ways, here are some of the things you consider when leveraging free content:

Set-up Free Trials

Free trial campaigns are one of the most effective ways to capitalize on the leads you have generated. As mentioned above, this arrangement can only work if your target market shows interest in your offerings.

They will not hesitate to spend the money after free trials, so long as the content is worth the price.

It is vital to give the customers the option to enter their payment information in offering free trials. This option simplifies the process when they decide on pursuing your services. Additionally, the ideal duration of free trials should last for about two weeks.

Just like you cannot get all of your customers on board to become monthly subscribers, not everyone will spend an entire month testing your content. Most users tend to view your videos for a couple of days in a row and evaluate if they are interested.

Keeping it short can encourage customers to take their time to get to know your video content. If it’s available for too long there is no sense of urgency which can lead to them forget about it.  

Offer Free Teaser Videos

Offering teaser videos for free introduces your content to your potential audience. Teasers should offer a glimpse of what you offer, leaving room for excitement and curiosity. The intention is to get your potential subscribers all excited about your upcoming offerings.

Nonetheless, it is an effective way to convince them to subscribe to more video content. The only disadvantage to this type of offering is that it cannot generate leads. Entry videos are often accessible to everyone, and most people watch them without leaving their contact information. As a result, there is no way to reach out to them for follow up.

Establish Win-back Trials to Redeem Your Relationship

What better way to market your product than showcasing happy and satisfied customers? Studies have revealed that it is possible to win your customers back if you contact them or follow up with them.

It is always possible to redeem the relationship as long as you reconcile the issues. Make sure to discuss the problems they had with you and find ways to meet them halfway.

Just because a customer canceled their subscription, it does not mean that they won’t return. There might be plenty of reasons behind their decision so take this as an opportunity to offer win-back trials.

Providing another free trial allows you to redeem the relationship and advertise what changed since they left.

Here are other reasons why it is always a good idea to implement win-back campaigns:

  • If you still have their contact information in your database, it never hurts to reconnect with them. This opportunity for rekindled connection allows you to check up on customers or even sign ups that have fallen off the radar and discover if they are no longer active or may have relocated.
  • It is always a good idea to reach out to previous subscribers if you have updated your offerings or changes worth sharing.
  • Address the concerns of your subscribers and see to it that you value their opinion. At the same time, this allows you to reduce the number of unsatisfied customers.

Offering win-back trials is the best way to redeem your relationship with previous subscribers.

Providing Discount Coupons and Attractive Offers

Nobody would ever want to miss out on saving money on products and services. Enticing potential customers with attractive offers can further your marketing efforts in generating leads.

Many businesses implement discounts on services that have a high demand to increase engagement and perception. While social media is on the rise, organic web traffic can increase through word-of-mouth engagement. Offering exciting promotions and giveaways can exponentially bolster your audience.

Compared with the rest of the methods, this is way easier to implement, garnering fast results.

If you want to succeed in the video business, you can consider offering the following:

  • Rewarding your monthly subscribers with exclusive video content.
  • Offering seasonal discounts.
  • Offering free trial campaigns to specific customers.

More often than not, the execution of promotional offers is more effective when used in conjunction with marketing tactics, like social media giveaways.

Hosting contests over social media can encourage more people to subscribe to your email newsletter or share your page with the world.

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