Robbie Baxter shares the latest post from her Subscription Stories series. In this episode, “Freemium, Free Trial and Free Surprises with Elena Verna of Reforge. When Does It Make Sense to Give It Away, and When Doesn’t It?”
In my work with subscription and membership models, one of the books that influenced me the most was Free: The Future of a Radical Price. Free was written by Chris Anderson, Editor-in-Chief of WIRED Magazine and published in 2009 by Hyperion. That book got me thinking about the role of Free in subscriptions in a more strategic and systemic way. If your business hasn’t analyzed the possible role of free in your business model, whether it’s a free trial, a free sample, or a freemium offering, you’re missing out. The judicious use of Free can be one of the most powerful tools in your subscription pricing toolkit. Our guest, Elena Verna, is a growth enthusiast and pricing expert. She’s been responsible for growth at companies like Miro, SurveyMonkey and Malwarebytes. Now, she’s at Reforge, a membership-based learning community where she teaches monetization. In this conversation, we’re talking about the role of Free, the rise of growth as a discipline and what it means to truly be data-driven.
Key points discussed include:
- What Elena is teaching in her monetization class
- Intuition versus data and the combination of the two
- The many uses of ‘free’ within a business model
Read the full interview, Freemium, Free Trial and Free Surprises with Elena Verna of Reforge, or listen to the podcast at Robbiekellmanbaxter.com.
Robbie Kellman Baxter identifies what ‘freemium really means’, how it can be used as a tactic, and the role of freemium in both ordinary and extraordinary times.
Lots of organizations, particularly subscription businesses, are changing their rules about what is free and what is paid, in response to the coronavirus.
The Atlantic, The Wall Street Journal and Bloomberg News are a few of the many publishers that have removed the paywall in front of coronavirus-related content. In other words, non-subscribers have access to articles relating to the pandemic and impending financial meltdown.
News isn’t the only industry that is giving away more than usual during this time of crisis.
Fitness organizations, like Orange Theory are live streaming classes that were formerly in-person, for members only.
Hello Core is offering free meditation classes to the public 3x/day through Instagram Live.
Zoom Communication CEO Eric S Yuan is expanding the features available on free accounts for K-12 educators.
Many of my clients are asking what they should be giving away–a difficult choice in a time when many businesses are desperate for short-term revenue to avoid mass layoffs and ‘keep the lights on’.
Points covered in this article include:
- The difference between free trial and freemium
- Viral freemium models
- Customer engagement and retention
Read the full article, In Crisis, What Should Be Free(mium)?, on LinkedIn.