All right, so we are going to talk about what a good free-to-paid conversion rate is,

but first and foremost, what do we mean by free-to-paid conversion rate?

Sure. So what I mean by a good free-to-paid conversion rate is when someone ends up buying your

product or service or software, and they're signing up for a free version, and then how many of

those people actually convert into a paid user or paying customer. Yep. This is written by

his name. It's hard to pronounce his last name. It's Lenny Richitsky. So he's a product guy.

He's got a great newsletter. A lot of people in tech subscribed to him, and he's got a lot of

data to share. He actually interviews a lot of people working in tech. And so here is a table

over here, and if you can't see it, we're going to read it out to you. So what is a good and great

free-to-paid conversion rate? So you can be using freemium. So freemium is, you might have a crippled

version of the product and self-serve, and that means you can kind of activate it yourself and play

around with it. I think a hotspot allows you to self-serve, and then you have freemium where it's

sales assisted, where you might have to talk to a salesperson to get involved with the freemium,

or in some cases some features might be locked away, and you might need to talk to a salesperson.

And then you have a free trial. We'll go with the free trial. I mean, that's pretty 14-day free

trial, 30-day free trial, whatever, and then you enter in your credit card, could be before or

after after you use it for a while. Reverse trial. Do you remember what a reverse trial is?

Reverse trial is, I think you have to opt out to not be charged or something like that.

Let's see, I think we both. So anyway, I don't think Neil and I know what a reverse trial is,

but we're going to go with the 1, 2, and 4 over here. So here's what it says in the table.

I think the reverse trial is, you have to opt out or else you get charged.

I can be wrong. I mean, isn't that just like a free trial?

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