Adding Revenue
As our download rate increased and the market grew, the team saw the opportunity to acquire paid subscribers. We projected our upgrade percentages and designed a feature set, based on user feedback and usage patterns, with the goal of making back the investment in 4-6 months. We exceeded our goal and have seen upgrade rates of 10-12%, even when experimenting with pricing, which exceed the industry benchmarking in this vertical. Furthermore, we found that the paid feature set significantly increased retention.