One challenge that independent developers often face on the road to entrepreneurship is how to expand their income. Today, I’m going to share some practical strategies to help you succeed in this field.
Traffic is the key to the survival of independent developers. No traffic means no users and no income. So, how to increase product traffic?
First, pay attention to users’ negative reviews. These negative reviews are often the reason why users abandon your product. Improving these negative reviews can effectively reduce user churn. At the same time, you can conduct some one-on-one interviews with users who have lost your product to understand why they gave up the product so that targeted improvements can be made.
Precipitating users into private domain traffic pools, such as WeChat groups, QQ groups, public accounts, WeChat friends, etc., can increase your channels to reach users. When a product is updated, it is disseminated through these channels as soon as possible, which may awaken some silent users and regain some lost users.
After product traffic is guaranteed, the focus should be on increasing the paid conversion rate. Here are some specific measures:
Allow users to jump directly to the payment page at any payment point to avoid adding multiple steps that will lead to a decrease in conversion rate.
Reasonable design of payment points and benefits makes users feel value for money. For example, monthly benefits may be more attractive than points-based benefits.
Real user testimonials can dispel other users’ doubts about paying. People follow the herd, and it is easier to make up their mind to pay when they see good reviews and recommendations from other users.
Sincerely telling the story of your product concept and the team behind it can make users trust your product more and have the confidence to pay.
Pricing needs to be set based on the stage of the product and market demand. The price can be lower in the early stage to attract users, and the price can be gradually adjusted as the product features are enriched and iterated.
In addition to increasing product traffic and paid conversion rates, you can also expand revenue by increasing revenue sources. For example, if your product is a content product, you can earn revenue through paid columns, advertising, or product distribution; if your product is an APP, you can earn revenue through paid membership, advertising, or directing traffic to personal self-media accounts. Diversifying revenue can not only reduce the pressure to monetize, but also find a better balance between user experience and commercial monetization.
In short, as an independent developer, if you want to expand your income, you need to start from many aspects, including increasing product traffic, increasing paid conversion rate, and increasing income sources. I hope the above strategies will help you!
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