Most streaming platforms like Amazon Prime Video are known for providing free trials to users for a couple of reasons. The first one is based on business. They want to gauge the audience and make them hooked to the point where they don't want to live without it. And obviously, this is a great business decision because one small step will help them make lifelong business – a small amount worth compromising.
But the second reason is interconnected to the first one. It is the trust in their product. They firmly believe that their service is good enough to win the hearts of the audience and speak for itself instead of them force-feeding their product features via google ads and other marketing methods.
Keeping this factor in mind, there was a free trial for Disney Plus in Australia that was recently removed. The same goes for Netflix, as it has also opted for the removal of the free trial. The streaming services didn't want to continue with the fear of not converting the participants into lost paying subscribers. What started as a great promotional strategy is now facing a catch-22.
Streaming services that function on the subscription principle offer free trials with the purpose of gaining new subscribers and these trials vary in time – some streaming platforms provide 7-day trials while others are generous enough to give a whole month for free.
It may seem like a genuinely gracious idea at first – to give a free trial for a month or even 7 days is enough when you think about it. But the actual truth is that these services are willing to give away their content for free and that sometimes backfires because by the time the subscribers have consumed the content that they wanted in the first place and are now no longer interested in continuing the subscription.
So, let's find out everything you need to know about this failed marketing tactic.
Content is King
What is the one reason you all subscribe to a streaming service? Let's face it, most streaming platforms have more or less the same cost and subscription deals. So, what could possibly help you decide which streaming service is for you and which one is not? It's the content.
When you subscribe to a streaming platform, you expect content that you won't be able to find anywhere else. And what that means is that you want content that is original and unlike anything you've seen before – in terms of concept, direction, casting, etc.
This is a major conversion key point. Participants in the trial period would only convert if they know that the streaming platform has a good history of producing original content and a promising future ahead – in terms of new trailers of upcoming series, movies, and Documentaries.
In the recent past, the effectiveness of the trial has proven us wrong. In fact, it's much lower than it was when the strategy was initiated. This is because once the participants have a taste of your medicine, they will only convert when they know for a fact that they will need it in the future – and if they've become addicted to it.
Binge and Bolt Activity
In the last couple of months, a common pattern is being followed by streaming services like Apple TV and HBO Max, where they release only one episode every week. What it's doing is serializing the binge and bolt behavior.
When Apple TV released the first season of Ted Lasso – one of the most popular series on the streaming platform – many people, through word of mouth, started opting for the free trial offered by the platform. However, they discontinued the service once they got done with the season. With the second season coming up, those participants are now forced to come back and now as paying subscribers instead.
This goes on to show that you can no longer just binge and get on with your life without paying for the services. And it also goes on to prove the value of quality content. If you're good, you will survive regardless of the features you continue with or not.
Possible Alternatives to Trial Periods
Are there any other measures being taken to convert regular audiences into paying subscribers? Well, it would be dumb to not if you're removing the only option that allows people to get a taste of your metal. Netflix has come up with a new strategy that allows people to watch their show or movie, but only for limited hours.
But what happens is that you can't opt for that feature unless you provide your credit card details. And so, sometimes, people forget to cancel the subscription and it goes on auto-renewal. This obviously allows people to get exposed to the kind of content that is available on the platform, but in an extremely sneaky way.
In Conclusion
You can now tell why free trials of so many streaming channels are unable to convert the users into consumers. Of course, some of the platforms have managed to find a loophole and a way around the loss, while other platforms have still some catching up to do. What do you have to say about this strategy? Have you ever decided to not continue with the subscription after enjoying a free trial of any streaming service?
