Janet Choi, for customer.io:
If you have a free trial for a SaaS product — the kind where an upgrade is required to continue use — loss aversion naturally comes into play. You’re relying on the psychology of free trial users to feel resistance against losing something they have, increase their desire to keep using it — and pay for the ability to do so.
So true. TL;DR version: make your freemium users temporarily test your largest plan. You’ll get a better conversion rate because you can then tell them what they’ll lose, and they’ll have had a taste of it to boot, instead of needing to highlight what they’ll gain if they sign up for the larger plan down the road.