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There is no higher form of user validation than having customers support your product with their wallets. However, the path to a profitable business is not necessarily an easy one. This course blends instruction with real life examples to help you effectively develop, implement, and measure your monetization strategy, iterating on the model as appropriate.
Lesson 1: Introducing MonetizationDeveloping an appropriate monetization strategy is comparable to finding the product/market fit for a new idea. This lesson will get you started on the path to finding that strategy by helping you think about profitability from the very beginning. You will also learn about different monetization models, profit margins, KPIs, and customer acquisition and retention.
Lesson 2: Monetization StrategiesThey say nothing happens before you make your first dollar. This lesson takes a deep dive into monetization strategies for different platforms, covering freemium, subscription, eCommerce, and Ads across web, games, and native apps. You’ll learn about the tools startups use to implement these strategies and design a plan to execute a model for your own product.
Lesson 3: Implement a Monetization PlanMonetization strategies change over time as the user base grows and the product evolves. In this lesson, you will choose and tailor a monetization strategy for your product and learn how to set up tracking to monitor its effectiveness. Using Google Analytics and other tracking tools, you will begin closely following and iterating based on behavior reports, crashes, exceptions, and app speed.
Lesson 4: Optimize Your ModelIn the final lesson, you will learn how to react and re-engage users if your monetization strategies don’t originally work. Through a case study with Nir Eyal, you will see how product and monetization are closely tied and how the Hooked Model can be used to optimize your strategy.
Case Study: WufooLearn how Kevin Hale got started with Wufoo (sold to SurveyMonkey).
Google is an American multinational technology company specializing in Internet-related services and products. These include online advertising technologies, search, cloud computing, and software. Most of its profits are derived from AdWords, an online advertising service that places advertising near the list of search results.
Udacity is a for-profit educational organization founded by Sebastian Thrun, David Stavens, and Mike Sokolsky offering massive open online courses (MOOCs). According to Thrun, the origin of the name Udacity comes from the company's desire to be "audacious for you, the student". While it originally focused on offering university-style courses, it now focuses more on vocational courses for professionals.