Freemium: Attract more customers and boost your sales
By 50minutes
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About this ebook
This book is a practical and accessible guide to understanding and implementing the freemium model, providing you with the essential information and saving time.
In 50 minutes you will be able to:
• Understand the different types of free offers given to customers and how they can be beneficial to a business
• Implement the freemium business model into your business to grow your customer base
• Offer a premium product with concrete improvements and additional services to increase your premium conversion rate
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50MINUTES.COM provides the tools to quickly understand the main theories and concepts that shape the economic world of today. Our publications are easy to use and they will save you time. They provide elements of theory and case studies, making them excellent guides to understand key concepts in just a few minutes. In fact, they are the starting point to take action and push your business to the next level.
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Book preview
Freemium - 50minutes
Key information
Names: Freemium, crippleware.
Uses: Business model, adapted for digital products and digital data.
Why is it successful? Original cost management, massive attraction of customers, adapted to digital products.
Key words: Freemium, free, premium, digital, conversion rate.
Introduction
There’s No Such Thing as a Free Lunch. This title of a book by the American economist Milton Friedman (1912-2006) speaks volumes about the attitude of the majority of economists towards free items: they simply do not exist.
Good to know: There’s No Such Thing as a Free Lunch
This phrase, from an unknown author, was popularised by economists such as Friedman. It refers to the illusion of free offers: everything has a price, whether direct or indirect, visible or hidden.
However, a quick browse of the applications offered on the internet provides several counter-examples, including Spotify, Dropbox and antivirus software. Nonetheless, these products are not completely free:
Spotify limits free listening time;
Dropbox only offers some storage space for free;
the antivirus software only offers reduced protection.
These applications have the same mode of distribution: the offer includes a free version and a more sophisticated