Summary

 
🎯
Overall, end goal is cover more than 15% of growth target through Monetization.

Our Avenues:

  • Increase conversion from Free to Paid Users by 10% by meeting their unmet needs or giving them more value proposition and triggering conversion.
  • Upsell/Cross-sell to the existing paid users
  • Capture more free users by adding a new plan that suits their paying capacity
 

Our Approach:

  • Introduce special pricing for Start-ups and gain 5% conversion of existing free users to paid plan. Also, gain 5% share from new users each month
  • Pricing model change & new features in the Business plan for SMBs to upsell to 20% of Observe Plus plan SMB users
  • Introduce Discover and Assist so that the customers get more value, to create stickiness and AHA moments. Provide trial of new features to free users to aid in conversion to paid.
 

User Insights:

  • Users are willing to move to a paid version but the pricing seems higher than competitors.
  • For smaller businesses, the free tools in the market provide features like heatmaps and screen recordings and hence no incentive to move to Hotjar’s paid plan
  • Cost v/s manual effort to view all screen recordings is not beneficial to the team
  • Users who have been using Hotjar for a long time, would choose to continue to use this over any other tool
 
 
 
Monetization
Why Monetization
🤑
Why Monetization
1
Done
What are the Alternatives?
🤷‍♀️
What are the Alternatives?
2
Done
Litmus Test for Monetization
🧪
Litmus Test for Monetization
3
Done
Who to Charge
💁
Who to Charge
4
Done
When to Charge
🏥
When to Charge
5
Done
How and what to charge
📽️
How and what to charge
6
In progress
Pricing Mockup
🖌️
Pricing Mockup
7
Done
 
 
 

⬅︎ Lever 1: Acquisition

Lever 3: Onboarding ➡︎

 
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