Startup Success Series: Monetising a Freemium Model

The Startup Success Series is designed to provide insight and education on the topics that matter most to the founder community right now.

Each week Startup Victoria hosts a 1-hour webinar for the community, focussing on a specific topic. There’s only so much we can squeeze into 60 minutes, so following each webinar you can access further resources in our Startup Success Series articles.

The Startup Success Series is supported by LaunchVic.

LaunchVic is Victoria’s startup development agency. LaunchVic invests in organisations and projects that empower entrepreneurs to scale innovative companies and deliver new industry benefits to the Victorian economy.

Some of the most successful startups on the planet utilise the freemium business model. Spotify, Slack and Dropbox have all shown that freemium can work – but how do you turn your userbase into paying customers so you can continue to grow your business?

It isn’t easy – for every Evernote and SurveyMonkey who rode the freemium rocket to soaring heights, there are a multitude of businesses that were unable to monetise their free users. So what’s the secret to effective conversion?

This edition of the Startup Success Series provides advice to those high-performing founders who are ready to take their business to the next level and convert users to paying consumers. We discuss examples from startups who have successfully created a paying customer base from initially free users, as well as providing practical advice and tips from an expert panel featuring Mikey De Wildt, Co-founder & COO of Influx and John Sherwood, Co-founder of Gleam.io.

Virtual Event Recording

About: Watch the webinar recording below to learn more about Mikey, John and their experiences as founders and with idea validation and problem-focusing, followed by an audience Q&A.

Timestamps:

2:30 – Introductions
6:29 – Defining the freemium model
14:17 – Free vs freemium
18:48 – Conversion rates
22:12 – Changing to freemium
32:38 – Failed experiments
38:00 – Q&A

Gleam.io

Learn more about Gleam.io and the work they have done here!

Influx

Learn more about Influx here!

Is Freemium a Good Revenue Model for MOBAS? – Analysis of Successful Factors

About: A research thesis analysing MOBAS and freemium – read here.

Reading Resources

About: Read more about monetising freemium models.