Freemium: growing your business through the power of free

 

 

 

 

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The principles of Freemium

Companies are always exploring new ways to increase customers while keeping down cost. The freemium model solves this by letting you showcase your great product with minimal expense but maximum value. 

Generally, your freemium offer will be a cut-down version of whatever it is you sell or do.

A mobile phone app with some of the functionality locked out, or a financial consultant offering a free 30-minute consultation over Zoom would both qualify as a 'freemium offer'.

Freemium adds immediate value to your customer's buying experience with minimal disruption to your business. 

 

 

How freemium drives growth

An effective freemium offer is a powerful ‘give’ whose result is an equally powerful ‘get’.

This 'get' is commitment from your prospect and the permission to market to them more substantially. They will, after all, already be using your product or service. Rather than a traditional buyer/seller relationship, you will instead progress to the status of ‘trusted advisor’ guiding your prospect through their buying journey. 

Freemium enables you to overcome a variety of common sales objections by letting the product speak for itself. 

By offering 'something for nothing' not only will you add immediate value to your prospect, but you will strengthen your brand while building trustworthy relationships.

 

 

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Freemium doesn't mean free

Do you believe in your product or service? Do you think it will make a real difference to your prospects? Are you convinced if buyers try they will likely buy?

Then it could be time to make freemium work for you.

Freemium implicitly allows you to overcome many of the typical objections you might face as part of your day-to-day sales activity. By offering your prospects something for free, you can quickly and easily overcome objections around costs and ease of adoption with minimum confrontation. 

Freemium isn't about giving your product away for free, it's about generating interest and proving value.

 

The Six & Flow Freemium Playbook

The quick win

Don’t just offer prospects a freemium product; offer them results by making sure there are quick wins baked in. It doesn’t have to be world-beating (that’s what clients pay you to do), but it does need to be something your prospects care about. Something that will give them a taste of what your full offering does and how it can solve their problem. After all, who would turn down something that’s both free and useful, right?

The extended trial

Your freemium product is a limited version of your full offering. But's that's the point. If your prospect shows interest, then consider offering a free trial of your full service. If your prospect does then decide to buy you can weave some form of discounted into the final cost. Blending freemium and free trials can be a powerful way of converting tentative prospects into happy customers.

 

 

 

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The Empowerment Plan

If you’re not already talking to a decision-maker then freemium can help you get there. Giving an influencer in the sales process your freemium product is a great way of quickly and easily converting an internal source into your sales champion. Additionally, if you supplement this idea and also empower your new champion with 'secret' insider tips to help them overcome an immediate problem, then you're well on your way to walking your paid offering through the door.

The Growth Play

Depending on both what you sell and how you sell it, you can use an offering just above ‘free’ to encourage clients towards your full service (without needing to overcome tricky cost objections). Offering incremental paid upgrades of your freemium product can be a good way to convert clients slowly over time. However, always be aware you’re not giving away too much too soon. Your freemium product needs to add value but not so much clients never need to upgrade.

Make Freemium work for you