Can a Free Trial Boost Your Companies Business?

Jul 29, 2014

Does Offering a Free Trial Increase Conversions for your business

There are many ways to gain consumer trust and allow them to understand and better engage with your product. A free trial is a great way to showcase what your product can offer while gaining trust and enabling the consumer to see what is so good about your product.

Setting a free trial strategy and committing to the methodology is very important for it to be successful. The number of days of the trial, the conditions, and most importantly how the trial will end are all significant factors for free trials to convert into paying consumers.

There are a few reasons why a free trial can be very useful. First, to obtain a better standing in the marketplace. In researching your market if your competitors offer free trials then it’s likely that your company should also offer one in order to compete. If your competitors do not offer a free trial, your business could stand to gain a bigger following and consumer trust at a faster rate than the competition. Either way, your business could stand to gain conversions.

Also, a free trial can allow your business to gauge what paying customers expect. If there aren’t many conversions after a free trial for instance perhaps the product isn’t in line with what is expected. It is a great way to get consumer feedback and have a test market so to speak.

Generally, conversation rates are quite good with free trials. After the free trial if a consumer decides to buy the product they’d need an easy and fast way to process the payment. A trial offer merchant account is a very useful tool for a business conducting a trial as it can process debit and credit payments easily and securely.

Of course, it is important to evaluate your business model and determine if a free trial is right for your company. A free trial demands much in the way of time and effort from staff, the budget and the return could be little.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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