A freemium is one of the newest growing trends for some business owners needing to build loyalty from consumers that skyrocket sales growth. How businesses succeed with freemium can be the difference of a competitive edge between rival companies and newly created businesses competing in the same niche market. The word freemium comes from the words free and premium.
How a freemium works is as simple as the two words that make it up represent. Free means free; giveaways to satisfy recent clientele and build incentive to buy in a new and growing consumer base. The ultimate gold in business is return sales. Freemiums is the newest plan to gain return sales from a loyal customer base. The key component in freemiums is to gain an audience that most turnover some form of loyalty to a company to gain privileges such as discounts, more free services, but mostly access to products and services that cannot be obtained by for example, being a member of a company site where posted data from members is key to marketing back to niche consumer bait.
A brief introduction to the freemium business model is to give away a core product and then sell premium products and or services. An example would be to sell free website building but sell hosting. The main objective of any business model is to make money, same with making use of implementing freemium tactics. Internet service providers have been using the model system for years. It is now seen across all business platforms. Another great example of freemium use is taking a look at the music business industry's marketing ploys. All across the internet one can find free downloads of music of bands. The company's then make money on concerts and other band services.
Freemiums helps as a marketing tool because of the various free data given up by freemium uses for demographic purposes as well as other statistical information companies can use to help build a more commercial product. Think about ways to use a freemium model for your business by implementing a free give away that will generate sales with services and products that enhance the use of a freemium such as free downloadable book, books or PDF's if you have a line of published books that purchasers of the free download could benefit from. Freemium today is becoming an essential marketing tool.
© 2012 Sharon L. West- 2008-2012 MightyDreamer Publishing, Inc.
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