Owen Tripp Presentation
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Owen Tripp discusses ReputationDefender's transition to a freemium model to educate the market about their privacy and reputation services. He explains that creating a new category requires establishing understanding among stakeholders and proving demand. While expensive, freemium allows planting seeds through free products to attract users and iterate based on metrics before converting some to paid subscriptions. ReputationDefender is testing concepts like RepAlerts that provide free, limited reputation monitoring to demonstrate value and expertise on the path to paid upgrades. The goal of freemium is to educate the market at scale about needs their services address.
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Owen Tripp Presentation
- 1. Freeing a Service to Educate a Market Freemium Summit Owen Tripp, COO and Co-Founder
- 2. FREEMIUM SUMMIT: Freeing a service to educate a market A little bit about ReputationDefender • Founded in 2006. Based in Redwood City, CA • Comprehensive suite of privacy and reputation tools focused on controlling publicly visible, online data • Customers in over 100 countries • Direct to consumer marketing (70%), distribution partnerships (30%) • Backed by Maples Investments, Kleiner Perkins, Bessemer and JAFCO
- 3. FREEMIUM SUMMIT: Freeing a service to educate a market 2010 Press Coverage 3
- 4. FREEMIUM SUMMIT: Freeing a service to educate a market Paid membership growth 2006 2008 2010
- 5. FREEMIUM SUMMIT: Freeing a service to educate a market So why in the heck would we pursue Freemium? (and why have I been invited to speak here?)
- 6. FREEMIUM SUMMIT: Freeing a service to educate a market Creating a category is hard… • You need to invent a lexicon • You need to prove that anybody cares (to partners, investors, your colleagues, yourselves?) • You need to ask somebody for some of their precious time • You need to establish the flow of how the experience should work
- 7. FREEMIUM SUMMIT: Freeing a service to educate a market …and expensive • Demand generation media is $$$ • UI iteration and testing takes investment • Evangelism means time and money • Experimentation necessarily means total ROI is less than ideal
- 8. FREEMIUM SUMMIT: Freeing a service to educate a market Plant a few seeds… Knowing where to plant: • Isolate unique pain points within your product solution • Find the “greatest common factor” in how people relate to your product flow • Lower the barrier to entry to a painfully low point
- 9. FREEMIUM SUMMIT: Freeing a service to educate a market …then weed Kill relentlessly: • Toss out ideas that don’t meet a minimum metric threshold (conversion, engagement, etc.) • Diagnose which of your key assumptions might have been off • Shelf concepts which lack a diagnosis
- 10. FREEMIUM SUMMIT: Freeing a service to educate a market Now try to catch as many as you can
- 11. FREEMIUM SUMMIT: Freeing a service to educate a market The seeds we’re planting ① Turn heads, don’t stop iterating until ‘wow’ ② Demonstrate irrefutable expertise, leadership ③ Provide path to paid in a consistent manner ④ Demand metrics but don’t halt product innovation because of tracking issues Our Current Projects: PRIVACY: MyPrivacyFree Results MyPrivacyFree for All PrivacyDefender uProtect.it REPUTATION MONITORING: -> RepAlerts Social Proof (RIP) Idiot Friend of the Day (RIP) FAMILY PRODUCTS: -> KidAlerts Principles of reverse freemium
- 12. FREEMIUM SUMMIT: Freeing a service to educate a market Sample concept: RepAlerts
- 13. FREEMIUM SUMMIT: Freeing a service to educate a market Sample concept: RepAlerts
- 14. FREEMIUM SUMMIT: Freeing a service to educate a market Sample concept: RepAlerts
- 15. FREEMIUM SUMMIT: Freeing a service to educate a market Sample concept: RepAlerts
- 16. FREEMIUM SUMMIT: Freeing a service to educate a market Free Take-Aways • Spend time thinking about your greatest common factors before launching your tests • Feed your best LTV opportunities with paid media (also, understand the differences between cohorts) • Educate through Freemium models • Don’t forget that free is not a business model
- 17. FREEMIUM SUMMIT: Freeing a service to educate a market Help us try ‘em out! www.privacydefender.net www.kidalerts.com www.reputationdefender.com/free http://uProtect.it www.reputationdefender.com/freeprivacy Thank you!