Posted by: Matt Shanahan
In the same way that Demand Rating™ helps maximize up-selling opportunities, it can also play a critical role in prospect to customer conversion efforts and opportunities.
Take for example, the freemium model where a low end version of the product or service is offered for free with hopes of converting that prospect to a subscriber of a higher end product, or the free-trial model where prospects can try the product for a specific period of time before buying. How does the organization prioritize its conversion efforts? How does it know to which prospect the product is delivering the most value?
By now you know the answer. Demand Rating gives a comparable number to work from. Conversion efforts should be targeted first towards those that are getting the most value out of their free version—those with a high demand rating. Those with a low demand rating are probably not worth the sales effort, and those in the middle might be helpful for understanding product refinement.
Next, Mark will look at Demand Ranking – the ability cluster and compare groups of customers.
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