Is Freemium model an effective way for businesses to monetize their offerings?

[SilverLance]

For those who may not be familiar, the Freemium model offers a basic version of a product or service for free, with the option to upgrade to a premium version for additional features or content.

So, do you think it's an effective way for businesses to monetize their offerings?

 

[King Belieal]

It is a workable way to sell your products. The only thing is that your upgraded version must offer real value to be able to attract people to upgrade.

 

[SilverLance]

That's right, if the premium features are not compelling enough, customers may not see the benefit in upgrading and may choose to stick with the free version instead.

 

[Kross]

Also, try and give them a sneak peak into the features of the premium. Maybe, a limited time premium experience. That might entice them to buy the premium.

 

[Nomad]

Freemium products can help you make a lot of money. Those who like free version will end up buying premium version