Guide To Freemium Business Model

  •  Free makes people think that they have “nothing to lose” since many ignore time as an investment.
  • The hardest part is to get your customer to pay you the first penny. This is why it is so critical to choose your premium features wisely
  • If you are looking to build a lifestyle business that will make you $8,000 a month and you have a good product, you can probably do without Freemium.
  • If you want to build a dominant company that has a substantial market share, Freemium can help you accelerate adoption.
  • If you spend a lot of money and/or time servicing free users, you are going to lose a lot of money. The cost of servicing free users must be lower than the dollar value they provide.
  • “The easiest way to get 1 million people paying is to get 1 billion people using,” says Phil Libin, the CEO of Evernote. Free adds another conversion step on your way to revenues.
  • If your product is not creating great value for its users, no tactic in the world will make Freemium work for you.

via: The Complete Guide To Freemium Business Models | TechCrunch.

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