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Monetizing B2C - Product School - Coggle Diagram

- - - - Three stages in figuring out a successful model
        
        1) Product-Market Fit
        
        three steps
        
        1) Is the market big?
        
        Are even users willing to try your product?
        
        2) Why should people use your product to fulfill that need? (i.e., value prop)
        
        Is it the only product that solves a particular problem?
        
        OR
        
        Cheaper?
        
        Faster?
        
        More intuitive to use?
        
        3) Is your value prop real for market? (i.e validate your value prop)
        
        Identify it early on
        
        Validate it by charging users for it :check: :explode:
        
        2) Grow revenue sustainably
        
        Interlinked with finding PMF, cannot be seen as a separate step :tada:
        
        3) Scalable growth the business
        
        print money :moneybag:
        
        Back and forth with step 1 and step 2 is possible
  - - - Partner with local service providers and give fast Wifi in emerging markets like India
      - Lessons learned
        
        Wifi is hard to be profitable
        
        Routers, cables and licenses
        
        Hard to prove business for internet provides
        
        Ads did not work :red_cross:
        
        Rise of Mobile Data
        
        Jio
        
        Lesson 1
        
        Market trends can impact your biz model
        
        Jio have free mobile data
        
        Lesson 2
        
        Your unit economics can make it harder to prioritize depth vs breadth
        
        Going deep could have worked
    - - Pay-per-contact
        
        Any time a customer decides to contact, charge the professional (pro)
      - Pay-per-quote :red_cross:
        
        Lesser value provided than Pay-per-contact
        
        Super up the tunnel than Pay-per-contact
      - Some other biz model could have explored
        
        Having customers pay
        
        Why not?
        
        Competitors dont ask customers pay
        
        This reduces the jobs done on the platform
        
        Subscription model
        
        Why not?
        
        Same reason as why pay per quote wont work
        
        not aligned with the value prop
      - Monetization Team
        
        Lesson 2
        
        Monetization infra will change as the company grows
        
        Have a infrastructure for pricing
        
        Lesson 1
        
        Psychology of price
        
        Pricing education for Pros
        
        They increased the price for pay-per-contact, pros felt the price increased
  - - - Emerging Market
        
        Google Station
    - - Monetization Team for 6 months
      - Search engine team
- - - - Leader of your sector
  - - - Customers have to spend more time
        
        Facebook, YouTube
    - - Quick and less time
        
        Amazon
        
        Started as transactional then moved towards community
  - - - Amazon Prime
      - Family and friends plan
        
        improves retention
      - Pricing
        
        Painless subscirption
        
        Per month under 10 Euros
      - Subscriptions are focused on one single feature
        
        One sentence
        
        Spotify figured that ads make them to subscribe to the premium
        
        Then after converting into paid users they will experience other cool features, but they are activated in a single feature
        
        PlayStation converts into paid for playing online with friends, but the paid users get 2 new games every month
        
        Helps in retention
        
        Runator gives a physical medal after every year
    - - Free trail is to acquire new premium members
      - Freemium - one part is free and other is paid
    - - Bothers users
      - Service needs to be massive
      - CPM vs CPC
        
        Facebook and Google are huge
      - Users expect to see the ads
        
        In order of get more coins in game, you have to see the ad
      - Ads in feed
        
        Targeted and segmented
        
        Part of the value prop
    - - Games
      - People love your brand and they want to buy physical things from your brand
    - - After you have a community or a lot of people to target
    - - We give you link, if you drive people through the link, you get paid
      - He is not a fan of this :warning:
      - No control over what happens
  - - - Base your decisions on data
        
        Design Thinking
        
        Start from users
        
        Lean UX
        
        MVP
        
        Agile
        
        Build fast and test fast
    - - Client
      - Value
      - Pricing
  - - - Different culture and different needs
    - - Go back to the beginning and start again