Freemium or Free trial?
Nico Muoio
16 replies
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Sven Radavics@sven_radavics
intribe | Tinder for Brand Partnerships
Depends on the product!
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Freemium users who never level up can still provide value. End of the say + some value is better than nothing at all.
@brittany_salas I agree. Do you try to get new convert free users in Sadu to paid?
@nicomuoio IMO its always worth a try! In addition to building community and word of mouth freemium users are also a a great way to test the value prop. It could be the case that it the value they are getting is completely different from paid users, revealing a hidden use case.
Propertizer
Free trial. After the end of the free trial, you can send discount and ask feedback from your users
@david_sipos I like this!
Try with both, whatever works on your case
@janak_patel56 What worked for you?
@nicomuoio I had freemium initially, now trying with Free trials :)
NVSTly: Social Investing
we have a freemium plan, and also a free trial to our premium plan
It comes down to how you plan to monetize and how much commitment your target audience has with your product.
@medinaluis You're right, Luis... I feel like it really depends on the product.
@nicomuoio I guess with free trial, your main objective is to try to hook the customer without full economic commitment whilst freemium gives the freedom to use the platform long enough to understand whether it's worth investing in it or not.
Agree with @sven_radavics, depends on the Product, how finished is the MVP (ie. end-to-end or just currently one or two key components), how much it costs to actually provide the service, how quickly it takes users to establish value, what are the price points you want to offer, and even what are others in the same or similar space doing, what is your ICP.
@sven_radavics @stevenbirchall I 100% agree! I also like what @brittany_salas said, that there is some value to having a number of users that remain in the free tier, could help with community building and word of mouth.
I also feel like the price of the product is a helpful when deciding how to price. If the product is $15-$20/month then maybe fermium makes sense and it what will help drive new users...but if the product is $1k+/month I think that a trial is somewhat expected.
I like freemium...If you plan on trading stocks full-time, choosing the Best Trade Stock App that meets your trading needs is a key consideration.