That Will Never Work #10: Getting Into a Subscription Frame of Mind
May 24, 2021
Joseph dives into his innovative hypnosis app, outlining its unique offerings from free podcasts to custom sessions. He shares impressive download metrics and growth goals while eyeing the competition with major players like Calm. Marc proposes that switching to a subscription model could enhance customer lifetime value and attract investors. They explore the pros and cons of different pricing strategies and discuss leveraging PR to broaden reach. Valuable insights on navigating investment conversations round out the discussion.
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App Structure And Traction
- Joseph's app bundles a free podcast, hundreds of hypnosis tracks, and customizable sessions assembled from pre-recorded segments.
- The podcast has ~8–9 million downloads and the app about 500k downloads, driving strong organic traffic.
Scale Personalization With Modular Audio
- Joseph scales personalization by assembling custom tracks from thousands of pre-recorded segments.
- This modular approach lets him offer tailored content without recording each request live.
Run Small Subscription Experiments
- Experiment with subscription pricing and formats rather than committing immediately to one model.
- Test monthly, quarterly, annual, and throttled tiers to find the best lifetime value versus conversion.