This article will explain the New Trial Conversions widget. This widget provides an estimate of current conversion rate based on a formula. The logic: every new member should have a trial that recently expired. We look at the last 7 days to see how many trials expired and how many new memberships were purchased.
New Members - the number of users who signed a new membership agreement within the last 7 days.
Trials Ended - the number of service packages (trials) that completed their package duration within the last 7 days.
New Members divided by the Trials Ended produces the large percentage value displayed.
NOTES:
- This widget is not able to track a specific lead through to conversion, which means this number is an estimate. It is also possible to see a percentage over 100%, though it will never display a percentage less than zero.
- A "Trial" is a service package. A service package does not "expire" in our system, which means this metric is based off the "Package Duration" setting in the sales package configuration. This widget will not consider any installment durations that fall outside of the package duration.
Requirements - A 'Master Admin' login or a staff login with the permissions to add/view this widget to their dashboard.