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Author: Yongjun Li
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The $807B digital content industries (e.g. ebooks, music, gaming) implement freemium pricing, offering initial contents for free (e.g. first few book chapters) and monetizing later contents with a premium. Determining the optimal amount of free content, or conversely optimal charging position (e.g. Chapter 42), is challenging. Offering scant free content risks customer churn, whereas a lavish amount diminishes profit. Also, freemium pricing for digital content, unlike consumer packaged goods (sampling literature) or technology products (versioning literature), is connected to content dynamics (e.g., better to charge at an emotional high). Collaborating with a leading ebook platform, the authors determine the optimal charging positions for ebooks via a large-scale randomized field experiment. The remarkable 50% revenue lift translates into a $100M+ annual gain for the platform. The authors further propose innovative text analytics to determine landmarks of content dynamics (e.g. sentiment culminations); and discover that optimal charging positions commonly occur shortly after the second culmination. Two mechanisms underlie this: moment-to-moment synchrony between a product's and customers' sentiment, and multi- instead of single-chapter purchase, peak soon after the second culmination. Finally, a scalable pricing design illustrates the vast commercial potential of automating pricing for massive numbers of content products and customers.
Author: Yongjun Li
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The $807B digital content industries (e.g. ebooks, music, gaming) implement freemium pricing, offering initial contents for free (e.g. first few book chapters) and monetizing later contents with a premium. Determining the optimal amount of free content, or conversely optimal charging position (e.g. Chapter 42), is challenging. Offering scant free content risks customer churn, whereas a lavish amount diminishes profit. Also, freemium pricing for digital content, unlike consumer packaged goods (sampling literature) or technology products (versioning literature), is connected to content dynamics (e.g., better to charge at an emotional high). Collaborating with a leading ebook platform, the authors determine the optimal charging positions for ebooks via a large-scale randomized field experiment. The remarkable 50% revenue lift translates into a $100M+ annual gain for the platform. The authors further propose innovative text analytics to determine landmarks of content dynamics (e.g. sentiment culminations); and discover that optimal charging positions commonly occur shortly after the second culmination. Two mechanisms underlie this: moment-to-moment synchrony between a product's and customers' sentiment, and multi- instead of single-chapter purchase, peak soon after the second culmination. Finally, a scalable pricing design illustrates the vast commercial potential of automating pricing for massive numbers of content products and customers.
Author: Julian Runge
Publisher:
ISBN:
Category :
Languages : en
Pages : 43
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Book Description
Firms commonly run field experiments to improve their freemium pricing schemes. However, they often lack a framework for analysis that goes beyond directly measurable outcomes and focuses on longer term profit. We aim to fill this gap by structuring existing knowledge on freemium pricing into a stylized framework. We apply the proposed framework in the analysis of a field experiment that contrasts three variations of a freemium pricing scheme and comprises about 300,000 users of a software application. Our findings indicate that a reduction of free product features increases conversion as well as viral activity, but reduces usage - which is in line with the framework's predictions. Additional back-of-the-envelope profit estimations suggest that managers were overly optimistic about positive externalities from usage and viral activity in their choice of pricing scheme, leading them to give too much of their product away for free. Our framework and its exemplary application can be a remedy.
Author: Julian Runge
Publisher:
ISBN:
Category :
Languages : de
Pages :
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Book Description
Author: Eric Benjamin Seufert
Publisher: Elsevier
ISBN: 0124166989
Category : Business & Economics
Languages : en
Pages : 254
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Book Description
Freemium Economics presents a practical, instructive approach to successfully implementing the freemium model into your software products by building analytics into product design from the earliest stages of development. Your freemium product generates vast volumes of data, but using that data to maximize conversion, boost retention, and deliver revenue can be challenging if you don't fully understand the impact that small changes can have on revenue. In this book, author Eric Seufert provides clear guidelines for using data and analytics through all stages of development to optimize your implementation of the freemium model. Freemium Economics de-mystifies the freemium model through an exploration of its core, data-oriented tenets, so that you can apply it methodically rather than hoping that conversion and revenue will naturally follow product launch. Learn how to apply data science and big data principles in freemium product design and development to maximize conversion, boost retention, and deliver revenue Gain a broad introduction to the conceptual economic pillars of freemium and a complete understanding of the unique approaches needed to acquire users and convert them from free to paying customers Get practical tips and analytical guidance to successfully implement the freemium model Understand the metrics and infrastructure required to measure the success of a freemium product and improve it post-launch Includes a detailed explanation of the lifetime customer value (LCV) calculation and step-by-step instructions for implementing key performance indicators in a simple, universally-accessible tool like Excel
Author: Patti M. Valkenburg
Publisher: Yale University Press
ISBN: 0300218877
Category : Psychology
Languages : en
Pages : 341
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Book Description
Cover -- Half-title -- Title -- Copyright -- Dedication -- Contents -- Preface -- 1 Youth and Media -- 2 Then and Now -- 3 Themes and Theoretical Perspectives -- 4 Infants, Toddlers, and Preschoolers -- 5 Children -- 6 Adolescents -- 7 Media and Violence -- 8 Media and Emotions -- 9 Advertising and Commercialism -- 10 Media and Sex -- 11 Media and Education -- 12 Digital Games -- 13 Social Media -- 14 Media and Parenting -- 15 The End -- Notes -- Acknowledgments -- Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- Q -- R -- S -- T -- U -- V -- W -- X -- Y -- Z
Author: Bush Wes
Publisher:
ISBN: 9781777119317
Category : Business & Economics
Languages : en
Pages : 276
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Book Description
"Product-Led Growth is about helping your customers experience the ongoing value your product provides. It is a critical step in successful product design and this book shows you how it's done." - Nir Eyal, Wall Street Journal Bestselling Author of "Hooked"
Author: Natasha Zhang Foutz
Publisher:
ISBN: 9781680833331
Category : Electronic books
Languages : en
Pages : 118
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Book Description
Generating more than $2 trillion worldwide, entertainment encompasses numerous industries, such as the motion picture, publishing, music, sports, broadcasting, gaming, event, and tourism. It is rapidly growing and waging an enormous impact on the global economy, culture, and consumer well-being. It also serves as an essential platform for advertisers, relaying brand messages to entertainment audiences via advertising, sponsorship, and other forms of branded entertainment. The distinct properties of entertainment, such as its experiential nature, short lifecycle, integration with human talents, sequential distribution, and complementary consumption with technology hardware, entail unique challenges to executives and academics. This monograph thus delineates a general framework of entertainment marketing and synthesizes the relevant studies that address some of these challenges. It concludes by inviting continued research on the intriguing and rapidly changing entertainment and media landscape.
Author: Michele Willson
Publisher: Bloomsbury Publishing USA
ISBN: 150132019X
Category : Games & Activities
Languages : en
Pages : 319
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Book Description
The first collection dedicated to analysing the casual, social, and mobile gaming movements that are changing games the world over.
Author: Jochen Wirtz
Publisher: Ws Professional
ISBN: 9781944659424
Category : Business & Economics
Languages : en
Pages : 80
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Book Description
Preface -- Introduction -- Integrating service quality and productivity strategies -- What is a service quality? -- Identifying and correcting service quality problems -- Measuring service quality -- Soft and hard service quality measures -- Learning from customer feedback -- Hard measures of service quality -- Tools to analyze and address service quality problems -- Return on quality -- Defining and measuring productivity -- Improving service productivity -- Conclusion -- Summary -- Endnotes
Author: Hermann Simon
Publisher: Springer
ISBN: 3319204009
Category : Business & Economics
Languages : en
Pages : 231
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Book Description
The world’s foremost expert on pricing strategy shows how this mysterious process works and how to maximize value through pricing to company and customer. In all walks of life, we constantly make decisions about whether something is worth our money or our time, or try to convince others to part with their money or their time. Price is the place where value and money meet. From the global release of the latest electronic gadget to the bewildering gyrations of oil futures to markdowns at the bargain store, price is the most powerful and pervasive economic force in our day-to-day lives and one of the least understood. The recipe for successful pricing often sounds like an exotic cocktail, with equal parts psychology, economics, strategy, tools and incentives stirred up together, usually with just enough math to sour the taste. That leads managers to water down the drink with hunches and rules of thumb, or leave out the parts with which they don’t feel comfortable. While this makes for a sweeter drink, it often lacks the punch to have an impact on the customer or on the business. It doesn’t have to be that way, though, as Hermann Simon illustrates through dozens of stories collected over four decades in the trenches and behind the scenes. A world-renowned speaker on pricing and a trusted advisor to Fortune 500 executives, Simon’s lifelong journey has taken him from rural farmers’ markets, to a distinguished academic career, to a long second career as an entrepreneur and management consultant to companies large and small throughout the world. Along the way, he has learned from Nobel Prize winners and leading management gurus, and helped countless managers and executives use pricing as a way to create new markets, grow their businesses and gain a sustained competitive advantage. He also learned some tough personal lessons about value, how people perceive it, and how people profit from it. In this engaging and practical narrative, Simon leaves nothing out of the pricing cocktail, but still makes it go down smoothly and leaves you wanting to learn more and do more—as a consumer or as a business person. You will never look at pricing the same way again.
