What is a "Freemium"? How Can You Implement This Strategy Into Your Marketing Arsenal?

By: Chris Swope

What is a Freemium?

In 2006, venture capitalist Fred Wilson coined the term "Freemium", a combination of two words - free, and premium. According to Wikipedia's website, a freemium is a business model that works by offering basic web services, or a basic downloadable digital product, for free, while charging a premium for more advanced special features.

A real life story you can relate to.

The best way I can think of to fully explain this strategy is to give you a personal example of being involved with a "Freemium" experience while on vacation in Italy. In 2008, my wife Jennifer and I spent 10 magical days in Italy - 4 days travelling through Tuscany, and 6 days in Rome.

A Freemium in Rome

Let me share this story with you. While visiting Rome, we did what 99.9% of other tourists do, we set aside time to visit St. Peter's Basillica. When we entered the 'square', or area, out in front of the Basillica, we stood there for 10-15 minutes just looking around at all the beauty that surrounded us. There were century old buildings everywhere we looked: statues, columns, and Roman architecture everywhere.

As we stood there and gaped, we were approached by a young, attractive female who was impeccably dressed. In perfect English, she asked where we were from and struck up a conversation with us. She explained that 'they' were going to be giving a FREE professionally guided tour of St. Peters. If we were interested in learning a lot more than we ever could on our own, we were to head over to the staging area where our guide would meet us. We were excited to learn from an expert for FREE, and immediatly went over.

After a 90-minute personally guided tour with about 20 other tourists, which was absolutely incredible, the upsell came. I wasn't expecting it, it just kind of happened naturally as we were wrapping up the tour. Our professional guide, explained that if you had a good time and learned a lot, but were interested in the more advanced, in-depth tour of the grounds which would include both the Vatican and The Sistine Chapel, they were grouping together just a few select people for this incredible opportunity.

To be honest with you I can't even remember what the exact cost was, but I know for sure it was well over 100 euros per person. They had offered a basic tour of St. Peters Basillica (which was 90 minutes long and very thourough) and then used the "Freemium" strategy with on the idea of more touring and information of The Vatican and Sistine Chapel.

Hopefully this real-life example of how a freemium works will help you understand this strategy. What is a practical way that you can implement this business strategy into your own business?

You'll have to figure that one out for yourself...but here is what I do. I lead with free education. I give it away, through my blog, through videos, and through articles such as this one. I develop a rapport with people this way and gain credibility. They value my expertise and advice. I don't charge a dime for it.

Will people take "my freemium", "my tour" of the Vatican and Sistine Chapel after receiving all this valuable free marketing information from me? YOU BET THEY DO!

About the Author

The bottom line is that becoming a master attraction marketer is a must for anyone looking to make profit online. To access more info and to read more articles that can assist you in becoming a proficient internet marketer, you can visit Chris Swope's Blog to see attraction marketing live and in action.

Those seeking a simple & proven business that is changing lives in one of the most difficult economic times in history, and to learn about "private" coaching and consulting from Chris, please visit Internet Wealth Strategy right now.

(ArticlesBase SC #2443117)

Article Source: http://www.articlesbase.com/ - What is a "Freemium"? How Can You Implement This Strategy Into Your Marketing Arsenal?