This converted at 9-15% depending on time of year and product. We built a lot of micro-SaaS offerings.
Our conversion before we did this onboarding multi-touch email approach was closer to 1-2%. These onboarding emails really do work with get a customer engaged and using the trial instead of signing up, and forgetting about it because it was free.
After that, if they converted, they would be moved into a different flow with a less frequent emails (weekly or monthly depending on the product). If they didn't convert, we had a second flow that would lead to an extended trial or discount which would convert another 3-5%.
Effective trial marketing is very important to sign ups. Our "marked as spam" and unsubs never went above 2% because we were providing value in our emails for a customer who signed up for a trial for a reason.