Who could have imagined that walking could become a source of income?
It may sound unbelievable, but Sweatcoin makes it possible.
Back in 2015, Sweatcoin burst onto the scene with an impressive $6.3 million in funding. Since then, it has experienced exponential growth, boasting an astounding user base of over 120 million people worldwide.
So, how does Sweatcoin work? The app, available for free, tracks users' daily steps. For every 1,000 steps, users earn one Sweatcoin, which can be exchanged also for Bitcoin.
But how does the app generate revenue to pay its users? In a nutshell, Sweatcoin has three primary revenue streams: advertising revenue, brand affiliations, and premium memberships.
As we delve deeper into Sweatcoin's business model, curiosity arises. That's precisely why we invited Rowan Pereira, the group product manager at Sweatcoin, for this episode. Join us and listen to the full conversation to discover the app's effective growth strategies, user retention techniques, revenue generation channels, and the value of its premium subscription.
For noteworthy quotes and key takeaways from the episode, read the article - Redefining motivation and user retention in the fitness app landscape with Rowan Pereira (Sweatcoin)
Episode Topics at a Glance
- Rowan's experience working with Multiply and Lingumi
- Overview of Sweatcoin and its growth strategy
- Reasons for habit formation
- Metrics for measuring user engagement and retention
- Focusing on early user experience and A/B testing for growth engine
- The impact of premium upsells on retention
- Competing with bigger brands
More about Rowan
Rowan is a dynamic growth-oriented professional with seven years of experience in product management. Currently serving as a Group Product Manager at Sweatcoin, she is fueled by a high-energy personality and a strong passion for promoting gender equity. Beyond her tech career, Rowan enjoys drawing portraits and seeks creative outlets whenever possible. Inspired by her father's tech background, she embarked on a similar path, finding fulfillment in making a positive impact. Notable achievements include spearheading an impartial campaign during the 2016 referendum and launching the UK's first regulated financial advice app, Multiply. In her current role, Rowan played a pivotal role in the unparalleled growth of Sweatcoin, acquiring 60 million new customers worldwide and topping the charts as the most downloaded health and fitness app globally.
Rowan’s Links
Rowan’s LinkedIn
Sweatcoin on App Store
Sweatcoin on Google Play
Timestamps
[00:00:01]: Introduction to Subscription League podcast
[00:02:35]: Rowan's experience working with Multiply and Lingumi
[00:04:35]: Overview of Sweatcoin and its growth strategy
[00:11:39]: Reasons for habit formation
[00:13:20]: Metrics for measuring user engagement and retention
[00:18:57]: Focusing on early user experience and A/B testing for growth engine
[00:22:54]: The impact of premium upsells on retention
[00:23:35]: Competing with bigger brands
Episode production by Mobdesign: https://podcasts.mobdesignapps.fr
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