In the previous article, we discussed pricing myths, how to create a monetization strategy and how to approach pricing for a new product. Let us discuss in detail how to measure the success of the monetization strategy.
Once we have implemented or crafted the monetization strategy, there are a few metrics that we could use to measure the success:
While there are many ways we can break down our cohort data to gain more perspective, we will look at three ways we can glean the data and generate some insights:
1. Revenue — non cumulative analysis: What is the revenue from the paying users per month
2. Revenue — Cumulative Analysis: What is the cumulative revenue from the paying users
3. Conversion (or upgrade) analysis: What % of new users are paying for the product
The best part of this analysis is that we don’t need a lot of data to evaluate the success. We can draw the above table within first few weeks of launch and see how we are doing.
Pricing is an iterative process. Best way to get it right is to keep doing qualitative research, quantitative analysis, and roll out A/B testing to confirm your hypothesis.
Hope this was helpful. I write on growth and monetization as I really enjoy understanding these levers to unlock growth potential. Let me know if you would like me to explore a specific aspect.
Read our other articles on Product Leadership, Product Growth, Pricing & Monetization strategy, and AI/ML here.
As a photographer, it’s important to get the visuals right while establishing your online presence. Having a unique and professional portfolio will make you stand out to potential clients. The only problem? Most website builders out there offer cookie-cutter options — making lots of portfolios look the same.
That’s where a platform like Webflow comes to play. With Webflow you can either design and build a website from the ground up (without writing code) or start with a template that you can customize every aspect of. From unique animations and interactions to web app-like features, you have the opportunity to make your photography portfolio site stand out from the rest.
So, we put together a few photography portfolio websites that you can use yourself — whether you want to keep them the way they are or completely customize them to your liking.
Here are 12 photography portfolio templates you can use with Webflow to create your own personal platform for showing off your work.
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