How to Utilize iPhone "freemium" strategies to profit

With the spread of smartphones and free online games, the "Freemium" model of product distribution and monetization has become prevalent over the last several years. At it's essence, it is handing out software products for free and then allowing customers to pay for in-software services using microtransactions. This video features some businessmen who do business in iPhone apps discussing how they use "Freemium" systems in their apps to make the most money possible while providing great services to their customers.