"Free for a day" - tittle of Entrepreneur story
In this story the main idea is that Pinch Multimedia company gave away its premium app for currency conversion for free for a day.
Bold? Stupid? They were able to get to no.3 among productivity apps. BUT the story does not tell us if it continue to drive sales after that one day.
Typical app business model is to give away the free demo version and charge for the premium app. This idea violates the rule. The intent is to spread the word about the app and drive future demand. BUT again the story does not answer that question. It does tell that the company produced another product TalkTapp. Judging by the type of app the new app is so different than the first that I doubt that the experiment proved financially rewarding. It seems that it has helped them to get people talking about them- their brand.
The idea of giving away product in order to attract future business is an old idea. In the app world it is an innovation.
Today's question is:
"What effect would giving your product for a day have on your future demand?"
In this story the main idea is that Pinch Multimedia company gave away its premium app for currency conversion for free for a day.
Bold? Stupid? They were able to get to no.3 among productivity apps. BUT the story does not tell us if it continue to drive sales after that one day.
Typical app business model is to give away the free demo version and charge for the premium app. This idea violates the rule. The intent is to spread the word about the app and drive future demand. BUT again the story does not answer that question. It does tell that the company produced another product TalkTapp. Judging by the type of app the new app is so different than the first that I doubt that the experiment proved financially rewarding. It seems that it has helped them to get people talking about them- their brand.
The idea of giving away product in order to attract future business is an old idea. In the app world it is an innovation.
Today's question is:
"What effect would giving your product for a day have on your future demand?"
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