MBA1341 How to Have a Free Plan Alternative That Won’t Cost You Money

Thinking about offering a free version of your service? Do the math first. A free plan for your recurring payment/subscription model can be an incredible marketing and sales tool. Just ask Google: the free service can haul potential paying customers in by the bazillions. But it only works if the freebies convert. Every day, your free version costs you money — so there has to be an appropriate ROI. We’ve spent some time discussing the issue with Patrick Campbell of Profitwell. His insights had a direct impact on our choice not to create a free version of our own software, WebinarNinja. That said, the free plan model can work beautifully for the right kinds of services. Today, we discuss how to make this strategy work, what situations it’s perfect for, and why it’s not for everyone. With examples of the types of businesses it can help, you can decide if a free plan is right for you. Click Play! SUBSCRIBE ON APPLE PODCASTS Stitcher | SoundCloud | Podcast Feed | How To Subscribe Give us a Rating & Review Today’s Sponsors Bank of America Feeling stuck in your job? Bank of America’s A cademy for Consumers and Small Business can help. Bank of America can help you start on a long term career path through peer mentoring, immersive programs, and a variety of clear and distinct paths. Take the first step towards your long term career at careers.bankofamerica.com now! smartwater smartwater alkaline has 9+ ph to help keep you hydrated while you’re on the move — whether you’re climbing a mountain, or doing mountain climbers on your mat. If you’re looking for a moment of zen, smartwater antioxidant with added selenium helps you find balance for body and mind. Plus, there’s a new way to order smartwater; just ask “Alexa, order smartwater,” and the rest is taken care of. smartwater – that’s pretty smart! Show Links Profitwell The post MBA1341 How to Have a Free Plan Alternative That Won’t Cost You Money appeared first on The $100 MBA . Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.