Transition From Freemium To Premium: Ignite the Journey To Revenue Generation In SaaS

Everyone loves to try products that are for free. Taking the advantage of free products and making them your customs acquisition strategy is the most productive use. Freemium to premium is a journey that leads to revenue generation and growth of the business along with the increasing customer base.

Merchants need to have a good convincing power using digital marketing and other revenue generation strategies that we are going to discuss further.

In a brief message, you need to prove to your customers that it is worth it and that they should convert it into a premium version of the product.

Let’s look at the tried and tested strategies to cover the freemium to premium journey seamlessly.

Nurture your Freemium Users

As soon as you put your product under the label of free product and free usage, you are going to have a lot of customers for your product. As your business continues to grow the customer base of the product, this is the right time to lock the genie inside the bottle.

To nurture your newly acquired customers, it is highly recommended to give them a smooth onboarding process so that they can familiarize themselves with the product. Clear instructions, equipped with the knowledge base, and product walk-through would not help in nurturing the freemium users but it will also help you to develop user-oriented premium features.

Highlighting the freemium features while you let your customer experience the free product is enticing the user about how much more they can achieve if they switch to the premium version of the product or service.

Hence, you can nurture your freemium users seamlessly with the right strategies that do not sound pushy and overselling to your customers.

Excite your customers to upgrade but make buying feel like a breeze.

Also Read: How to Plan the Best Freemium Model to Make More Users Upgrade to Premium

Invoke The Sense Of Urgency

For free trials, creating a sense of urgency can be pretty easy – you can go like your free trial is ending in two days, three days, and so on.

But when to do and what to plan for the freemium to premium conversion?

To invoke a sense of urgency for waking up your free trials and fetch conversations from them – it is best to start showing them time-sensitive promotions or one-time gift offers.

Time-sensitive offers urge customers to buy the offer and get the advantage of the premium features at a low price as compared to the usual price. Other than that, you can also offer gift vouchers to your freemium users which they can redeem and get a premium version.

Don’t just show them the banner of the exciting exclusive offers but show the features and solutions that they will get with that.

This way you will make them act and it will act as a real CALL to ACTION. LinkedIn uses this feature smartly.

In the basic feature of LinkedIn, it says 20 people viewed your profile but to discover who were 2o people the user needs to switch to the premium version of LinkedIn.

SaaS businesses can use the same feature and strategy to appeal to a sense of urgency along with showing customers that they are missing out on amazing premium features that will be helpful to them or their business.

Also Read: SaaS Free Trial vs. SaaS Freemium

Unlock The Personalized Features – Personalize The Freemium With Premium

Once you have acquired the customer, the next step is to convert the freemium user into a premium user. In this feature, we are not going to talk merely about locking the features’ – there is more to it.

For SaaS and B2B businesses, offering personalization is an important aspect as it makes customers feel that they can do it without paying any extra amount.

It is like usage-based billing in which consumers only pay for the consumption of data. If we look at the product usage, some clients want to use freemium but get it personalized as well. This could be a new strategy or model for the merchants but it is beneficial since a merchant is going to earn from it.

Hence, unlocking the personalized features for the freemium customer and charging them only for their personalized features can be a great strategy to generate revenue and convert your user from freemium to premium.

Also Read: Recurring Billing with Free Trials And Freemium

Make It Easy To Upgrade

This is important more than you think it is.

Customers do not want to be stuck to the payment page for long rather they want to complete the payment process in a matter of a few minutes.

Enable your customers to upgrade seamlessly and with a smooth transaction process so that they can feast on the premium versions as soon as they can.

Achieve Maximum Revenue From The Transition With SubscriptionFlow

For SaaS and B2B businesses, SubscriptionFlow is the platform to choose to avail of the personalized features and solutions that are built for your business.

With SubscriptionFlow, you can seamlessly manage your freemium to premium journey, and here is how we are going to help you with this:

Track your free to premium conversions as our software builds customer field and customer segmentation on the basis of distinguishing information.
Observe customer behavior and analysis to plan freemium to premium strategy
Make upgradation easier for your customers using our third-party integrations of payment gateways and multiple payment methods