Over the last decade, SaaS companies have leveraged the Freemium Model for converting customers.
Freemium model is a combination of free and premium product features with the ability to upgrade to a paid subscription.
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This try before you buy strategy has given birth to some of the most successful SaaS companies - Slack, Mailchimp, Wistia and Box.
In the last couple of years, the freemium model has evolved due to the availability of large datasets. The companies that proved the value of freemium are now harnessing their vast datasets.
They pioneered a new piece of the Marketing Funnel that boosts efficiency and converts at around 50 percent - Product Qualified Leads (PQL).
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