4. Monetization
Designing and implementing a system of credits, and later, a subscription service, to generate revenue for the company.
The company itself started off as a free AI image generation MVP, but to recoup expensive GPU server costs, we had to find a way to monetize the experience.
To do so, we used two different revenue streams to monetize within the product:
- Credits for the user that wants to have à la carte training
- Subscriptions for users that desire certain benefits to having a membership with Playform
Some key metrics within the year monetization launched:
- With our first 5000 users, 170+ became paid subscribers—a conversion rate of 3%.
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The amount of subscribers exceeded our expectations by 3x.
- Subscribers accounted for over 50% of our weekly active users.
above: Monetizing via training
above: Monetization via subscriptions
above:
Monetization via an upsell