MBA1007 How to Adapt Spotify’s Business Model + Free Ride Friday!
The $100 MBA Show
Omar Zenhom
4.8 • 2.2K Ratings
🗓️ 18 May 2018
⏱️ 13 minutes
🧾️ Download transcript
Summary
The Spotify business model is genius. It’s also increasingly common practice, one currently adopted by businesses big and small. Spotify, Pandora, YouTube, and many more take the same approach: provide an incredible free service, then offer a premium version for a relatively small monthly fee.
The beauty is that it works at both levels. At the free level, you can still draw revenue from advertisements — the exact advertisements your customers will pay to avoid. If the service is great, and the customer has a certain amount of disposable income, it’s a win-win.
Today, we discuss exactly how to apply the free service to premium upgrade model to your business. Just like in many facets of business, from marketing to support, what you give away is ultimately what earns you the most.
It’s FREE RIDE FRIDAY!!! See if the Spotify method can work for you. Click Play!
Transcript
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| 0:00.0 | Hey today is free ride Friday so make sure you hang on to the end of the episode to hear |
| 0:04.1 | who won this week's free ride. |
| 0:06.5 | Every Friday we give away a lifetime membership to one of our programs. |
| 0:10.3 | This month we're giving way Easy course over at easycourse.co. |
| 0:13.5 | This is a course on how to build your own online course in 30 days. |
| 0:17.6 | It's valued at $500, but somebody who's left us on iTunes rating and review |
| 0:21.7 | will win today. |
| 0:23.4 | And we do this every single Friday, so all you gotta do is leave us |
| 0:26.2 | an iTunes rating interview to enter the weekly draw. |
| 0:28.8 | All right, let's jump at the city's episode. Heyo! Welcome to the $100 MBA Show Real Business Lessons for Real Business People in the Real World |
| 0:46.9 | with our daily 10 minute business lessons. |
| 0:49.2 | I'm your host, your coach, your teacher, Omar Z at home. I'm also the co-founder of the $100 MBA, a complete business |
| 0:56.0 | training and community online. |
| 0:58.0 | And in today's lesson, you will learn how to adopt Spotify's business model to your business? |
| 1:03.9 | If you notice, Spotify's business model |
| 1:05.9 | has sort of grown in the business world |
| 1:09.0 | in the last few years. |
| 1:11.0 | The concept of offering a free service that may include ads or something else |
| 1:16.8 | to help promote their business but then offering a premium service of the same content but without the ads and a few more |
| 1:26.2 | bonus features. Spotify is one of the fastest and most profitable companies in |
| 1:30.8 | their market and that's attributed to this business model. So in today's |
| 1:35.2 | lesson I'm going to show you how you can do the same, how you can apply the same business |
... |
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