For more on business models and business strategy, take my business starting course:
https://www.udemy.com/how-to-start-a-business-go-from-business-idea-to-a-business/?couponCode=yVisit
http://www.problemio.com for more business help like this freemium business model video, and our business planning mobile apps.
In this video I discuss the Freemium business model. This is traditionally a web based business model, but many elements of it can be found in many other kinds of offline, brick and mortar businesses The key is to notice what elements of the Freemium business model make it work so well, and then to apply and fit those elements to your business.
In this video I cover how Freemium makes your business more defensible, helps your marketing and sharing, and how you can get the non-paying customers to convert to paying customers.
Keep in mind that there is no such thing as the best business model. And while freemium is a very good business model, for different industries, different business models work differently. Additionally, very often, as you grow your business, you have to add and remove elements of a business model that work and do not work. So often, you do not end up with a perfect version of the freemium business model, but some reshaped version of the freemium business model. And that goes for every business model and not just freemium. On the other hand, there are many instances where the freemium business model is not a perfect fit. But nevertheless, you can take elements of the freemium model which might work well for your business.
For example, one of the strengths of the freemium business model is that you can give something of value for free. And that is what draws that large volume of potential customers to your business. But what if you are a store or a restaurant? Can you give something away for free? It is very difficult because it costs you real money. The reason the freemium business model works so well on the web is that digital goods are nearly free to give away. But that is not the case for brick & mortar businesses.
But nevertheless, if you have a store or a coffee shop, what if you host an event in your store or a coffee shop? You will get many people to come for the event, and maybe they will spend money with your business while they are there. So that is an element of the freemium business model at work. Try to think about where you can use freemium in your business to your advantage.
For more videos and articles, please visit
http://www.glowingstart.comHere is a full article about the freemium business model:
http://glowingstart.com/freemium-best-business-model/And here is an article about business models:
http://www.problemio.com/business/business_model.phpPlease check out my business books. Here is my book on starting a business which spends a section discussing the freemium business model:
http://www.amazon.com/Get-Business-Ideas-Start-ebook/dp/B00HZUVAUMBook with fundraising strategies to raise money:
http://www.amazon.com/10-Fundraising-Ideas-Strategies-strategies-ebook/dp/B00KADT0Q2/Facebook marketing book:
http://www.amazon.com/Facebook-Marketing-Business-Expect-Promoting-ebook/dp/B00LMGPDIKMarketing strategies book:
http://www.amazon.com/Marketing-Strategies-People-Problemio-business-ebook/dp/B00IG83T7E/ Mobile app marketing book:
http://www.amazon.com/Mobile-App-Marketing-Monetization-thousands-ebook/dp/B00N14RSNYHere are some videos to check out on similar topics.
Business plan course:
https://www.youtube.com/watch?v=i19XAhb0-BMWhat is a business plan
https://www.youtube.com/watch?v=T63QsuNIwZAWhat is a business model:
https://www.youtube.com/watch?v=dsUz6lfXCkECourse on how to start a business:
https://www.youtube.com/watch?v=kgyLxrhgdAkHow to make money with ads:
https://www.youtube.com/watch?v=eAw7JowBjc8My mobile app book and course because the prevailing business model for mobile apps is the freemium business model:
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