The document summarizes key lessons from a 3-day masterclass on monetization. It discusses frameworks for analyzing user behavior like RFM analysis and lifecycles. It also covers optimizing user journeys through funnels, segmentation, and testing engagement campaigns. The goal is to understand user patterns to increase retention, engagement, and monetization through personalized automated campaigns.
2. In this 3-day Growth Series
Masterclass, you’ll learn:
● The Marketing Mix model: maximizing growth marketing channels vs. optimizing budget
● How to increase your app’s visibility and boost organic downloads
● How to drive analytics to improve engagement and fuel monetization
These top growth professionals will address the challenges they’re overcoming
and the strategies they’re using to succeed
3. Day 3
● Using advanced analytics to uncover
monetization opportunities
● Types of campaigns you should
automate to drive engagement and save
you time
● Lifecycle optimization to take you from
activation to repeat purchase
● Tap into dormant and churned users for
new monetization opportunities
Key Learnings:
Engagement,
Retention and
Monetization
Supercharge retention and turn
your super fans into brand advocates
by pairing real-time analytics with
personalized engagement
campaigns.
5. Lesson from Match.com:
Free Trial vs. Basic Membership
Lesson from Earnin:
Free App with Tip-Only Payment
Lesson from Jerry.ai:
Using data to reduce friction and
identify “savings”
Striking the right balance between
acquisition and monetization
KEY LEARNING
Try to minimize the cost of acquiring a user by
eliminating friction and then nurture them
through to monetization
6. Lesson from Match & Inflection:
Use free-trial period to educate
Lesson from Inflection &
LendingClub:
Use time between screens to
educate
Lesson from Jerry.ai:
Use text message journeys to
educate
The advantage of educating a user
prior to asking for payment
KEY LEARNING
Users who are likely to monetize are interested in learning
more. Adding some friction around learning may weed out
freeloaders while making the remaining users more likely
to monetize.
7. Lesson from Match.com:
Ask for payment early but bill later
Lesson from Earnin &
LendingClub:
Collect payment info for payment
to the customer...then collect
fees/tips
Lesson from Jerry.ai:
Collect payment after full-price
discovery
When to ask for payment?
KEY LEARNING
Maximize conversion & monetization by delaying
asking for payment until the user is highly confident of
the value they will receive.
8. Lessons from Jerry.ai
● SMS Open/View rates are
close to 100%
● Short, customized messages
can be very powerful
● For considered purchases, the
increase in deferred
conversion far outweighs the
funnel drop-off
Use SMS & Mobile push messaging
to increase monetization
KEY LEARNING
Getting phone # and mobile message approval can
dramatically increase your ability to generate deferred
monetization.
9. Lessons from Jerry.ai
● “If you’d like me to finalize
your quote, just reply ‘Yes’”
● Can also be used for retention
oriented processes
Use Webhooks to automate
processes
KEY LEARNING
Giving the user the ability to reply Yes creates less
friction than asking them to go to the app and take an
action. SMS or Mobile Push combined with Webhooks
is very powerful.
10. Lessons from Jerry.ai
● Use customer-specific data
changes
● Use product or market
changes
● Define an ongoing education
journey
KEY LEARNING
Ongoing interactions work. Jerry generates more
than 30% of its conversions after 30 days and users
continue purchasing after 24 months.
Find Relevant Reasons to Engage
Down the Road
14. RFM Analysis
Recency
The freshness of the
customer activity
E.g. Time since last
order or last engaged
with the product
Frequency
The frequency of the
customer transactions or
visits
E.g. Total # of transactions or
average time between
transactions/engaged visits
Monetization
The intention of customer
to spend or purchasing
power of customer
E.g. Total or average
transactions value
18. Funnel Analysis
Define the
metrics important to
your business
All funnels should
be built around
metrics important
to your business
Identify
key
touch points
A user’s journey on
your app is not
always linear
Segment
users and compare
funnels
Not all users behave the
same way, even if all of
them end up purchasing
your product
19. How many users who
add to cart actually go
ahead and complete a
purchase?
Track User Flows and
Drop-off Points in Your App
20. • Conversion Over Time
trends help you identify
how effective your
communication is
inside the app
Analyze time taken
between user actions
Conversion Analysis
22. Errors to Avoid
Don’t focus on the high drop-off points
1
2
3
High drop-off doesn’t necessarily mean there is
something wrong with your app
All users don’t need to follow the
same conversion path
26. Encourage users to
establish habits (refer
friend, search products,
etc)
Encourage users to
monetize
Interest Conversion
Encourage users to
launch app or
sign-up
Acknowledgement
AIC Framework
27. AARRR Framework
Acquisition
• Installs the app,
Signs-up on the app
• Trackable acquisition
event in CleverTap
Activation
• Completes
Registration, likes,
board created, etc
• Experiences core
value prop
• Action that indicated
likely continued app
use
Retention
• Pin, wishlist, add to
cart, view product
• Core app activity,
inherent to the app’s
purpose
Revenue
(Monetization)
• Purchase, Subscribe,
• Converts to a paying
user for the core value
prop
Referral
• Share content, invite
to app, add rating
• Indicates advocacy
and generates new
acquisitions
29. Experiment and Iterate
Try different engagement to
see which works best in moving
users to the next stage.
30. Rollout the campaign variation
which performs best to all users
in a stage.
Rollout
31. 1
Review lifecycle
metrics at a glance
Lifecycle Optimizer Value
Maximize retention and
LTV
Easily experiment
to understand the most
effective campaigns
2
3
● Understand key customer metrics
● Compare key customer metrics
● Ascertain the impact of each engagement
● Transition users through lifecycle stages
● Impact retention and overall business KPIs
● Make data driven decisions
● Automate journeys to influence users