What Is The Value Of Offering A Free Trial Or Freemium Product?

What Is The Value Of Offering A Free Trial Or Freemium Product?

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Freemium is like a Samurai sword: unless you’re a master at using it, you can cut your arm off. – Rob Walling

Are you about to launch your new product or service but hesitate if it is the right time and right version of that product or service to launch or not? You are right’ hesitation is part of the business when it comes to launching an innovative product or service. However, innovation is the lifeline of a business and when you are holding a B2B business, the market becomes harder for you. You can offer a free trial or freemium to analyze if there is any loophole in your product or service or it is perfectly right to hold a launch event.

Difference Between Offering A Trial and Free Product

However, a question arises here. Do you really understand what is better to try? Would it be better to go for a free trial or a kind of freemium is preferable concerning your product or service? You need to be too careful about what is better to understand the marketability of your product. For making a better decision you must now the difference between these two else there is wasted potential. Solution to your problem is a decision framework which can serve you in order to take the right decision.

Both are customer acquisition models. A free trial offers free partial or complete product to prospects for a limited time. On the other hand, a free product offers everything without the user paying for anything.

Benefits of a Free Trial

Offering a free trial can benefit you in the following ways:

  1. Competitive Advantage Against Competitors

In terms of b2b lead generation, you can get a competitive lead over incumbent legacy software contenders. Free trial compels your potential client to buy it as you are providing it for free (for a limited time). Whereas, they need to first get into purchase deal if your competitor doesn’t provide this service.

  1. Free Trials Give Your Sales Team Leverage

B2B salespersons can get benefited by it a lot. Throughout the globe, it is a common practice to attract clients before the launch of a product, officially. For this purpose, pre-sales engineering organizations communicate with the other businesses, who may become potential clients, and offer them to try a product for free for a limited time. In this way, you can get the right feedback from your potential clients and if they identify any flaw in your product, you can work to overcome that as per the recommendations of your clients. Thus, it will help you throughout the sales process.

Benefits of Offering a Freemium

  1. Help You to Create Buzz

As you know this is the era of internet marketing, freemium can support you create a strong buzz about your product even before the official launch of it.

  1. Spend Less on Marketing

Freemium will not only help you create buzz but will also assist you in terms of less spending on marketing because your potential clients are already getting into your ‘unsent proposal.’

Jim Ruby

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