lose it! how to monetize your app by charles teague
DESCRIPTION
Charles Teague discusses Lose It!'s freemium business modelTRANSCRIPT
Weight loss that fits.™
Launched in
2008
3million+monthly/active/unique users2
0
million+users
33
million+ pounds lost
65%35%
female
male
ages 20 - 44
Top 10 Essential AppHealth & Fitness category
Facebook – 89k likesTwitter – 14k + followers
available on
Android, iOS, Nook,Kindle & web
Lose It! Overview
Lose It! contemplated advertising, affiliate / ecommerce, and other business models
Lose It! launched it’s Freemium business model in 2012
Now a top free and top grossing health and fitness app, more that 100k premium members
Foundation of Freemium is a great product, long-term relationship with user.
Determine differentiation between free / paid
Best when value / cost are aligned (e.g. the more value the customer gets, the more they pay)
Address particulars of users (for example churn vs. reactivation)
Expect a low conversion rate from free to paid, build a mobile that works with this
Structure release to enable A/B testing of everything
Zooming In On Freemium in 2014
Mobile creates new opportunities and challenges for freemium businesses
Free competitors can steal air in competitive landscape
Pricing in a mobile world is a challenge
In-app purchase provides meaningful lift to conversion but do the math since you’re giving up 30%
Android lags conversion significantly
À la carte pricing is an alternative but consider it carefully
Zooming In On Freemium Mobile