Selling Freemium Products

[nomad]

What exactly is a freemium product?
A freemium product is a product that is available for free but the user has to pay to access premium products. For example, you can use Canva for free but you will have to pay monthly subscriptions for accessing other features.
How do you make money?
When people like your free products and consider buying the premium versioon, you will have sales

 

[Heatman]

The best way for you to get more people subscribing to your premium services is if you offer something that is worth spending money when they have used your freemium version of your product. So, they will be forced to pay for the premium service.

 

[Shavkat]

I think it is fine if the company does gain profit a lot and sells constantly. There is nothing to pay it monthly, but they need to consider if they are gaining more profit.

 

[Springtime]

I think YouTube is using this strategy. You can use YouTube for free but you need to bear with a lot of advertisements. They offer you to subscribe to YouTube Premium. One great benefit is that there is no interruptions of advertisement while watching videos. As YouTube is having too many ads now, some of my friends have subscribed to the Premium version.

 

[IB D]

I think YouTube is using this strategy. You can use YouTube for free but you need to bear with a lot of advertisements. They offer you to subscribe to YouTube Premium. One great benefit is that there is no interruptions of advertisement while watching videos. As YouTube is having too many ads now, some of my friends have subscribed to the Premium version.

The ads on YouTube is annoying. That means RIF is also running a freemium with their upgrades subscription. That's a good business way to drive patronage to your products.

 

[astutimeliana723]

I think YouTube is using this strategy. You can use YouTube for free but you need to bear with a lot of advertisements. They offer you to subscribe to YouTube Premium. One great benefit is that there is no interruptions of advertisement while watching videos. As YouTube is having too many ads now, some of my friends have subscribed to the Premium version.

That's right, someone is willing to pay more for a subscription to a premium product if they feel they have more money for it. People whose economy is mediocre usually won't do it, unless it's really urgent.

 

[IB D]

That's right, someone is willing to pay more for a subscription to a premium product if they feel they have more money for it. People whose economy is mediocre usually won't do it, unless it's really urgent.

People pay more for a subscription if they feel it is valuable to them. I know of a lot of people that would pay anything to get a football game.

 

[astutimeliana723]

People pay more for a subscription if they feel it is valuable to them. I know of a lot of people that would pay anything to get a football game.

True, it is mostly done by diehard fans. If he is really crazy about his favorite soccer team, then he will pay whatever the price of the ticket he sells. Even if he has to borrow money from other people. But I don't like people with this personality, they tend to be unable to distinguish between wants and needs.

 

[cherry123]

I like freemium product since the product will be mde available for free but you only have to pay to access premium products it is a nice method for marketing

 

[Heatman]

The ads on YouTube is annoying. That means RIF is also running a freemium with their upgrades subscription. That's a good business way to drive patronage to your products.

Seriously, it's one of the biggest reasons why I don't like using YouTube often. The ads are being too much whenever I watch videos on it.

 

[IB D]

True, it is mostly done by diehard fans. If he is really crazy about his favorite soccer team, then he will pay whatever the price of the ticket he sells. Even if he has to borrow money from other people. But I don't like people with this personality, they tend to be unable to distinguish between wants and needs.

In economics, a consumer is rational as long as he can pay for the products. On a serious note, everyone should have a leisure activity. For some, it is drinking, some philandering with the opposite gender and others, gambling.

 

[astutimeliana723]

Seriously, it's one of the biggest reasons why I don't like using YouTube often. The ads are being too much whenever I watch videos on it.

I rarely look at Youtube, except for what I want to know. For example: Tutorials for making dishes, tutorials for repairing an item, etc. Due to more extravagant reasons for internet quota there, I always save on internet packages. LOL

 

[IB D]

Seriously, it's one of the biggest reasons why I don't like using YouTube often. The ads are being too much whenever I watch videos on it.

The monetization drive of YouTube has made it not to be enjoyable any longer. To see one video, you would be shown ads upon ads.

 

[Heatman]

I rarely look at Youtube, except for what I want to know. For example: Tutorials for making dishes, tutorials for repairing an item, etc. Due to more extravagant reasons for internet quota there, I always save on internet packages. LOL

It is quite unfortunate that they are making use of a lot of advertisement on their content which makes it very dissatisfying for users who really likes to make use of YouTube to get proper information of what they want to do.

 

[Niyi Briggs]

Trial versions just gives you a timed experience after which you would need to pay to to keep enjoying. It works for very good products. I paid for power Amp after using the trial version.

 

[cherry123]

Businesses use this to lure customers which is not a bad idea Though one might have a good experience with it but it just a matter of time so it limited

 

[Stardom22]

Premium services are deemed profitable in the sense that once the clients have subscribed you are guaranteed of regular payments for the renewal of the subscriptions on the services provided.

 

[eldavis]

Majority of the apps are now doing this, i have come across most of the apps have a pro versions that you have to pay for before you can access certain features.

 

[uptrendfinancialsignal]

Making money from selling premium products i's a very good way to generate passive income.

 

[eldavis]

Trial versions just gives you a timed experience after which you would need to pay to to keep enjoying. It works for very good products. I paid for power Amp after using the trial version.

Exactly, it's more like a way to test the products if its something you like to keep use, and also use without restrictions. Though when you make your products too expensive, people might decide to manage the normal package or go for a different one.