ryan holmes presentation
Post on 20-Oct-2014
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When Free Isn't Free Enough - Transitioning from Free to Freemium in the Consumer SpaceTRANSCRIPT
![Page 1: Ryan Holmes Presentation](https://reader035.vdocuments.us/reader035/viewer/2022081412/5444e62ab1af9f3f6c8b45d5/html5/thumbnails/1.jpg)
Going Freemium
Tactics and Lessons (in Progress)
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Social Media Dashboard
Broadcast, monitor & share from a single web tool
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What Did We Do?
Preparation
1. Customer Survey2. Metrics Analysis3. Research Migrations 4. Pricing Options5. Cohort Roll-out
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Customer Survey
Questions
How people used the product
What features are they willing to pay for
How much are they willing to pay
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Metrics Analysis
RJ Metrics
Slice & dice database to see how users were *really* using HootSuite
Make decision from data rather than hunches
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Migration Research
Findings
User communication is critical
Not necessarily easy (always be haterz)
Slow and steady FTW
Keep expectations in check
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Pricing Models
Options Considered
1.Charge per monitored term: keyword, search, tabs
2.2. Buckets of features – catering to different types of users at different price points
3. Charge per Team Member
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Cohort Launch
Roll Out
Only new users had to choose between a free/paid plan
User experience unchanged for older users
Analyze price points & adjust
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Cohort Trials
Tested each for ~1 month >
Iteration I - Tiers
Multiple buckets of features with pre-determined number of Team Members allowed
Iteration II - A la carte
Add features needed for monthly fee, e.g: enhanced support/vanity URLs/additional TMs, etc.
Findings...
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Cohort Results
A la Carte Results
80% increase Pro signups
15% increase free accounts
Why?
•A la Carte was simpler solution for most users
•More flexibility for SMEsUsers needed more Team Members than were available in tiered model
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Enterprise Plans
Big Business
Special tier for large business and orgs
Unlimited social profiles, plus more Team Members & Learning program
Differentiate with VIP service & new features i.e. Facebook Insights
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Mobile OptionsPlatform Tie-in
At first, charged for full & offered free (limited)
Migrated to free on 5 platforms – ex: 1st day 12K iPhone downloads
Aim: Tightly couple web and mobile to encourage Pro sign-ups (success TBD)
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Promoted Content
Another Stream
Twitter Promoted Content provides additional source with revenue share
First 3rd party syndication partner
Promoted TweetsPromoted TrendsEtc.
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Looking Back
Communicate: Early & Often
Learn: Analytics vs Hunches
Payment: AMEX, JCB, PaypalCohorts + a/b: Let us test before diving in
Gradual roll-out: system tune-ups, bugs
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Thanks from @hootsuite
Ryan Holmes - twitter.com/invoker++
Help Desk - help.hootsuite.com Feature Requests - feedback.hootsuite.com Learning University - learn.hootsuite.com
Twitter @hootsuite @hootsuite_help @hootsuiteiphone @hootwatch