Growth Gems experts

Govind Balakrishnan

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11 insights on Monetization, Onboarding and Activation and Product from one talk or podcast, each with the quote and a link to the moment it was said.

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Monetization

Monetization

For products around inspiration and self-development like Curio, people project a future version of themselves. This translates into some people being comfortable projecting this future self, subscribing and building the habit later.

How Habit Formation Can Fast-forward Sub Growth at 14:05 · Featured in Growth Gems #40

Monetization

There’s a relationship between someone who builds a habit to the product and becomes a subscriber. But people are also willing to take a chance on a product, especially if they come from a good acquisition channel. A lot of people are willing to subscribe first then try it up.

How Habit Formation Can Fast-forward Sub Growth at 13:24 · Featured in Growth Gems #40

Monetization

When testing out the best features to make available for free, also think about the context in which users first hear about your product. Example: maybe tracks are not the most valuable to give for free (vs. saving for later) in the case where someone tells you about Curio while you’re watching Netflix.

How Habit Formation Can Fast-forward Sub Growth at 21:38 · Featured in Growth Gems #40

Monetization

When thinking about price testing, keep in mind that people are more interested in getting value than they are sensitive to price. There is actually a point where there is an inverse correlation (conversions falling when reducing price).

How Habit Formation Can Fast-forward Sub Growth at 20:53 · Featured in Growth Gems #40

Onboarding and Activation

Onboarding and Activation

Activation and revenue might not be in conflict, but they need to be thought of differently. The mindset between people coming in can be very different. Example: someone who wants to build the habit first then subscribe vs. someone who projects the future version of themselves, takes a chance on the product and subscribes directly.

How Habit Formation Can Fast-forward Sub Growth at 19:10 · Featured in Growth Gems #40

Onboarding and Activation

Curio removed sign up, because they were asking for information without giving anything in return. Instead they became very up front about the fact that it was a paid product (first screen is the paywall), yet allowing users to experience the product without giving any information in return. Generous, but honest and upfront.

How Habit Formation Can Fast-forward Sub Growth at 15:40 · Featured in Growth Gems #40

Sylvain's take:

Product

Data

Data

There is the obvious form of hard activation (e.g. listening to a track), but there might be other signals as well that you can find through a more sophisticated data infrastructure. You can even find the signals that lead to a higher LTV.

How Habit Formation Can Fast-forward Sub Growth at 18:30 · Featured in Growth Gems #40

Organic Acquisition