It pays to find out about the Freemium business model for web applications. This is because when an application that is used across the Internet becomes more widely known to those who use the web, demand for it can skyrocket. And this can really help make your business boom.
Make Your App Useful
Regardless of your web application’s business model, there is a need to ensure that your application has the required number of features in it to make it useful. The more useful it is, the more users will like it.
Begin Small, With Fewer Features
The best thing is that there will be a real reduction in risk and an increase in functionality. There are a number of companies that began small and then expanded and evolved to become major players in the industry.
The best software usually offers several features due to the preponderance of talented web developers. Third party development is also easy: you just find a talented web development team and hire them!
Freemium For Your Business
The Freemium business model is about making it easy for businesses to make money from the things that it is already doing. There are some very interesting features in this business model that make it worthwhile in every respect.
A Definition of the Freemium Business Model
When it comes to defining “Freemium”, we’re talking about a website or web application that offers basic functionality for free, but then also offers more advance, premium features for a price. In this way, interested users are initially attracted via the “free” aspect, in the hopes that they’ll be so captivated by the app’s functionality that they will later decide to pay for the more advanced features.
Why It’s So Great
Here’s why the Freemium Model can be great for your business: you can launch your business with the basic, free features and then progressively add more advanced, premium features over time. Everyone knows that the world loves free stuff…so, by offering an initial app that is free, you will hopefully garner a lot of users from the very start.
The problem with most companies and businesses is that they tend to remain focused on just earning revenue in the short term. This results in less than healthy long-term growth and prosperity and this can lead to blockages that will keep out your customers, especially those who are new and want to try your business for the first time.
The Advantages of Freemium
Freemium software helps in achieving a critical mass and that in turn allows new models to be thrown up. You can also start to think about creating or launching new services and products.
According to research findings, it has been found that Freemium applications seem to have an edge over their more expensive competitors.
The Promise of Advanced Features
Freemium also promises more advances in functionality (in the premium version), and this is something that more advanced users will take to readily. It’s kind of a confirmation that the application is not just for newbies, but also has something to offer the more hardcore, tech-savvy users as well.