Ryan Holmes Presentation
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20-Oct-2014 -
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Transcript of Ryan Holmes Presentation
Going Freemium
Tactics and Lessons (in Progress)
Social Media Dashboard
Broadcast, monitor & share from a single web tool
What Did We Do?
Preparation
1. Customer Survey2. Metrics Analysis3. Research Migrations 4. Pricing Options5. Cohort Roll-out
Customer Survey
Questions
How people used the product
What features are they willing to pay for
How much are they willing to pay
Metrics Analysis
RJ Metrics
Slice & dice database to see how users were *really* using HootSuite
Make decision from data rather than hunches
Migration Research
Findings
User communication is critical
Not necessarily easy (always be haterz)
Slow and steady FTW
Keep expectations in check
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
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
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...
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
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
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)
Promoted Content
Another Stream
Twitter Promoted Content provides additional source with revenue share
First 3rd party syndication partner
Promoted TweetsPromoted TrendsEtc.
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
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