Making “Freemium” Work 💲
Over the past decade “freemium”—a combination of “free” and “premium”—has become the dominant business model among internet start-ups and smartphone app developers. Users get basic features at no cost and can access richer functionality for a subscription fee. If you’ve networked on LinkedIn, shared files through Dropbox, watched TV shows through Hulu, or searched for a mate on Match, you’ve experienced the model firsthand. It works for B2B companies as well—examples include Box, Splunk, and Yammer.
Several factors contribute to the appeal of a freemium strategy. Because free features are a potent marketing tool, the model allows a new venture to scale up and attract a user base without expending resources on costly ad campaigns or a traditional sales force. The monthly subscription fees typically charged are proving to be a more sustainable source of revenue than the advertising model prevalent among online firms in the early 2000s. Social networks are powerful drivers: Many services offer incentives for referring friends (which is more appealing when the product is free).
Time To Read: 10 Minutes
Published: May 2014
Link: Making “Freemium” Work 💲
Meta CEO Mark Zuckerberg announced today that the company is rolling out Meta Verified on Instagram and Facebook in the U.S. The subscription service, which first launched in Australia and New Zealand last month, allows users to add the coveted blue check mark to their Instagram and Facebook accounts for a monthly fee. Meta Verified costs $11.99 per month on the web and $14.99 per month on mobile.
“Meta Verified is rolling out in the US today,” Zuckerberg said on Friday in the Meta Channel on Instagram. “You can get a badge, proactive impersonation protection and direct access to customer support.”
You can join the waitlist to sign up for the subscription service online starting today. In addition to the monthly fee, you will have to be at least 18 years old. You need to complete the verification process and provide a government-issued photo ID to confirm your identity before being approved for a Meta Verified subscription. Two-factor authentication is also required. Meta Verified subscribers won’t be able to change their profile name, photo, username or date of birth unless they’re willing to complete the verification process again.
Read More: Meta launches paid verification on Instagram and Facebook in the US 🎖️
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