“Free” reigns supreme when it comes to online marketing. But “pay” is more profitable to your bottom line. In the popular Freemium world of digital offerings, where free and premium content or services are offered, it’s prudent to consider how you will transition free offerings into paid subscriptions before you actually take that leap.
The conversion rate is all over the boards when transforming free into premium services. Industry averages have been reported anywhere from 0.5% to 5%. When it comes to profit, that’s a huge range.