June 15, 2018

Tim Fargo

Episode 757: How to find your target audience, with Tim Fargo

Our special encore guest today is Tim Fargo. He is a successful entrepreneur, speaker, and investor and founded investigative business firm Omega Insurance Services in 1996 with a credit card, grew it to over 300 employees, and sold it in 2003 for $20 million. He is now the President and CEO of socialjukebox.com — a social media content management system he developed and designed. Tim is also the author of Alphabet Success — Keeping it Simple. My Secrets to Success. Now…you may remember Tim and the wisdom he shared back in Episode 63 of Onward Nation. If you haven’t listened to, studied, and applied all he shared during our first interview…I highly encourage you to add Episode 63 to your list of vital priorities.

What you’ll learn about in this episode:

  • How the freemium model works well for some business models and service offerings, but doesn’t work as well for others
  • How to determine whether the freemium model will work for your own business model
  • How paying customers tend to be the easiest work with while “free” customers have a tendency to ask lazy questions
  • Why many companies invest a lot of resources into creating a free product only to not receive much in terms of returns from the free product
  • The differences between the freemium model and offering a free trial, and how to transition from the former to the latter
  • How very few people tend to convert from the freemium model to the paid version of the product
  • The importance of focusing on the needs of your business and not paying attention to what others believe you need to do or have to be successful
  • How moving away from the freemium model can reduce operating costs without impacting the top line revenue of a business
  • The importance of recognizing that it is largely a waste of time to try and please everyone, particularly individuals who cannot be pleased under any reasonable circumstances
  • How not every customer or client is an individual that your company should have a relationship and that it is okay to let some customers or clients go
  • The importance of choosing the freemium model for the right reasons and not because someone told you that you should

Ways to contact Tim:

Stephen Woessner

Stephen is the CEO of Predictive ROI and host of the Onward Nation podcast. He is the author of two bestselling books, speaker, trainer, and his digital marketing insights have been featured in SUCCESS, Entrepreneur, The Washington Post, Forbes, Inc. Magazine, and other media.