Introduction to Monetization
The why behind building this project?
The why behind building this project ?
First of all, congratulations on making it to your final project!!
You've successfully completed all the previous ones, and now you're about to tackle the most critical element of business growth—monetization. This is the last piece of the puzzle, and it’s here to help you solidify your understanding of how to turn product engagement into sustainable revenue.
Monetization isn’t a one-time decision or a simple transaction; it’s a nuanced skill that you need to own and understand to remain irreplaceable within your organization.
So, dig in, push yourself, and know that mastering this skill will ensure you’re always at the forefront of growth in any company you’re at or looking to join!
Key outcomes from your Monetization project:
- Determine if your product is monetizing or ready to monetize by conducting a litmus test.
- Understanding substitute pricing by analyzing your core users and value offered.
- Creating your monetization design and pricing page for your product.
Plan your week
After the session and as you read through this brief, you might feel a bit overwhelmed—and that’s okay! By spending 60 to 90 minutes each day and taking it one step at a time, this process will become much smoother. Here's a plan to help you go about your project:
Day | Goal |
Monday | 1. Read the project brief twice before coming onto the briefing call. 2. On the call you will work on a smaller product problem with your peers so you can jumpstart your assignment journey. 3. Choose the product you'll work on. |
Tuesday | 1. Conduct at least 5 user calls to understand the user and the stage of the product 2. Start working on the experiments relevant to the stage of your product |
Wednesday | 1. Finish working on your experiments and substitute pricing |
Thursday | 1. Try to finish working on whom and when to charge |
Friday | 1. Finish what to charge and how much to charge sections |
Saturday | 1. Finish designing your pricing page. 2. Hit that submit button before 7 pm Saturday. |
How to decide the product for this project ?
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