Open sourcing your products can be a great marketing and profiting strategy to advertise your product and reduce cost. If you go this route, people from all over the world will be able to use your product and improve upon it to create a better product at the cost of zero.
Open source can save you marketing and sales cost. It is easier to create a market through open source if the product becomes popular through users. If your product has gone viral, then it has become a success.
You can generate revenue from your open source products through on-line support. Sell support services like training, consulting, troubleshooting, and configuring to cater businesses and users who are using your product. Provide installation services, customization services, and enhancement services to generate revenue for your company. These are some profit strategies you can implement for your business.
You can also create a deal with another company to integrate some of its services to your open source product. Firefox made a deal with Google and generate millions annually from integrating Google Search into Firefox. Listen to your customers and keep on innovating and supporting them as your business model.
