PRICING MODELS
A free subscription is a powerful tool to attract users to your app or service, and paves the way for them to explore add-ons or consider plan upgrades.
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How freemium works
The freemium model offers a flexible approach to user engagement by providing two primary pathways: granting access to an app's full feature set to maximise user engagement and satisfaction, or limiting certain features to incentivise plan upgrades or the purchase of usage add-ons. This strategy allows businesses to cater to a wide range of users, from those content with basic functionalities to those willing to pay for enhanced capabilities.
Implementing a freemium model with Salable can seriously simplify the setup as there is no necessity for a merchant of record, such as Stripe, for processing payments.This approach allows businesses to focus on user acquisition and engagement without the immediate need to handle financial transactions, making it an ideal strategy for startups and companies looking to grow their user base and aren’t yet concerned with monetisation.
The freemium model differs significantly from free trials or evaluation periods. While free trials offer temporary full access to a product or service, the freemium model provides a permanent subscription to a basic version of the app. This distinction highlights the freemium model's role in long-term user engagement and retention strategies, offering a continuous value proposition.For businesses considering which approach to adopt, understanding these differences is crucial in tailoring the best user experience and maximising conversion potential.
Why Subscription owners love FREEMIUM
Turning freemium subscribers into paying customers with upselling techniques may prove far cheaper than attracting and winning over paying customers right from the start.
Offering a free plan cultivates trust and credibility with potential customers as it demonstrates the developer's confidence in the value of their offering.
Building feature-based or capacity-based limitations into the freemium plan transforms it into a "teaser" version, enticing users towards the full, paid app or service.
Use the freemium plan as an initial lure, encouraging users to upgrade by showcasing the value and potential of the app.
Freemium models significantly reduce user acquisition friction, making them an efficient method for gathering data on product effectiveness and user preferences.
Freemium is a great choice for opening up to early access users. As the app or service matures and becomes market-ready, the free plan can either be phased out or supplemented with paid options.
Some apps are too limited to successfully charge a flat rate for but can be made free with a usage addon for heavier users.
Some apps are not feature-rich enough to find a paying market but may find success with a Freemium plan.
No pay wall and no credit card information gets people using your app quicker and more readily!
Freemium plans require no merchant of record, which is one less thing to have ready (and pay for) before anyone is using your app or service.
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