The Mavenlink 'The Price of Free' infographic expands upon the marketing phenomenon known as 'freemium.' The freemium term is a combination of the words 'free' and 'premium,' representing the concepts admission of gratuitous products and services with the option for paid upgrades. Businesses such as LinkedIn, Google Apps and Skype have opted for the freemium model, and this chart reveals why.
The statistics gathered here reveal that free ventures like the Angry Birds smartphone application actually make more money than games that charge consumers. While this may come off as puzzling, this graph explains that a greater amount of users consistently opt for free tools. Once these users become familiar with a particular framework, they may eventually make an investment, allowing them full access to add-ons, support and storage features. Essentially, a greater number of clients are enticed by the complimentary aspect, resulting in a greater number of purchases.
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