What is a ‘reasonable’ trial to paid conversion rate?
Don’t worry about it. Instead, worry about improving whatever you have.
I’ve worked with start-ups like Automile that have 90%+ conversion.
I’ve worked with others than have 10% conversion.
Neither is necessarily better. It depends on how, why and where you get those free trials.
What’s more important is measuring the rate consistently and then trying to drive it up every quarter.