In this episode of 3 MINUTES BULLSHIT WITH GEORGE, George Natsvlishvili is joined by Pavlo Pedenko, Senior Product Manager at Wise and Co-Founder at Growth Marketing Stage. Wise is a London-based financial technology company focusing on making international money transfers cheap, fair, and simple. Growth Marketing Stage is the first growth marketing conference in Ukraine with popular podcast episodes about online marketing.
Pavlo shares his experience as the Senior Product Manager with the monetisation models for apps.
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00:14 Pavlo’s Introduction
00:37 Alternative Models of Monetisation
Transcript & Key takeaways from the episode:
The monetisation model choice depends on the value your service offers inside the app. If there is a repetitive case of using your service you shall try to sell subscriptions.
Alternative options might be so-called Bundling Subscription Services such as Google Bundling Subscription Services, where you can just submit your app and start earning recurring revenue without changing the financial side of things.
If you are a desktop or Mac app, consider joining services such as Setapp the form, where you submit your app and they bundle you into a single subscription with other apps. They sell the subscription to the end customer and then distribute the revenue among the apps. No need to change the model and deal with unsatisfied customers using your subscription.
George: If you are an app, which model of monetisation you have to go with and why?
Pavlo: I think it's ultimately the question whether to go for subscription or for transactional heavily dependent on the value your service offers. If we are not talking about shitty stuff, but we are talking about the real value of your product, check if there is a repetitive case. If there is a repetitive case you can totally try to sell subscriptions. However, taking into consideration that everyone sells subscriptions right now, sometimes people are really hesitant to subscribe to another app. So consider options such as Google Bundling Subscription Services, which they introduced recently, where you can just submit your app and start earning recurring revenue without changing the financial sort of side of the things. Or if you are a desktop or Mac app, consider joining services such as Setapp the form, where you submit your app and they bundle you into a single subscription with other apps. They sell the subscription to the end customer and then distribute the revenue among you. You don't have to change the model. You don't have to cope with negativity coming from your current customers, but you can still have the chance to earn your current revenue which is great, right?
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