We wanted to increase the number of people who are exposed to our product by offering a free trial.
Trial duration: We looked for both qualitative and quantitative feedback from our users in order to clearly define the ‘aha!’ moment for our product, and make sure the free trial gives them just enough room to reach that point.
Result: 14 days (2 weeks).
Free trial extension: For users who didn’t find time to test their product within the first 2 weeks.
Result: free trial extension from 14 days to 30 days.
RAISING 500,000
How will it be spent?
Technology costs - $2k / month
Marketing costs - $3k / month
Legal costs - $15k
3 employees - $380k
Finding Product/Market Fit
Help us prove our value before raising a seed round
To whom we sold
We agreed upon with 3 teams from ING to buy our product:
Summit
Murex
IPA - ING Pricing Architecture
Their scopes are: development of payment solutions for wholesale branches and development of financial market technologies.
Our strategy:
We spoke about our product, often as dramatically as possible, in terms of how it will benefit them. We described the need the product will immediately fulfill, offering a vision of the wonderfully satisfied customer living in their QA career.
We put accent on Price / Speed / Quality.
We gave them the option to use our ATF for free for 14 days. We helped them to ensure they use our framework at its full potential.
Our recipe for success: We get the tests to pass and then re-examine the tests to make them more efficient where we can, and get development’s buy-in to help us do so where we can’t.