DocuSign suggests e-signatures are here to stay, along with its "free sample" strategy
I like million dollar deals, where's my pen?... Trick, I'm (Docu)signing. The latest trend accelerating in the corona-conomy: e-sigs (not the fruit vapor kind). Electronic signature icon DocuSign topped earnings expectations for the quarter, as the WFH/lockdown life triggered a digital shift for businesses:
- DocuSign's sales grew 39% and it added 68K new customers, for a global total of 661K paying customers.
- The demand surge was driven by an increased need for eSignatures as you execute contracts from your parents' basement.
- DocuSign CEO: "We don’t anticipate customers returning to paper or manual-based processes" — even when the corona-crisis is over.
It pays to be known... As the largest player in the e-signature world — with 70% of the market — DocuSign was the first company many thought of when needing to remotely execute a contract.
- In 2018, it was estimated that less than 30% of all business paperwork processes are fully digital. Now, many are sending their John Hancocks over the ether.
- Google searches for DocuSign jumped 50% from February to March, when mandatory WFH policies started hitting.
DocuSign is a shining example of the top-of-funnel strategy... Businesses flock to DocuSign for its free trial e-signatures — then DocuSign tries to sell them unlimited plans or its "Agreement Cloud," which includes a wider array of contract-management functions. The free e-sigs bring DocuSign traffic, attention, and gratitude — but 94% of its sales actually come from paid subscription services like unlimited plans and Agreement Cloud.