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Lovellvgf10 funnel
 

Lovellvgf10 funnel

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A shorter version of Feeding the Funnel. I gave this presentation at the Virtual Goods Forum

A shorter version of Feeding the Funnel. I gave this presentation at the Virtual Goods Forum

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    Lovellvgf10 funnel Lovellvgf10 funnel Presentation Transcript

    • Feeding the funnel:finding the levers to turn users into profits
      Nicholas Lovell, GAMESbrief
    • About me
      Former banker (I don’t do that anymore)
      Former web entrepreneur
      Founder of GAMESbrief (www.gamesbrief.com)
      Author of How to Publish a Game
    • What am I talking about?
    • The funnel
      Users
      Profits
    • The funnel matters because it is your entire business
      To emphasise that, we need Equation I
      CPA < LTV = good business
      CPA > LTV = trouble
      Where:
      CPA is cost to acquire a user
      LTV is the Life Time Value of a user
      Why the funnel matters
    • How most people start
      1% convert = £1,000.00
      1% convert = £10.00
      Say each costs £0.10
      Only if the average user stays for 100 months!
      I’ll get some visitors
      Some who visit will register
      Some who register will subscribe
      Subscribers will spend an average of £10 per month
      I’ll put my Maserati on order
    • Feeding the funnel
      Marketing
      PR
      SEO
      SEM/PPC
      Unique users
      Harness users to create virality:
      • Referrals
      • Facebook Connect
      • Importing contacts
      • Twitter
      Cross-promote from other titles
    • Converting it
      Unique users
      Registered users
      Active users
      Paying users
      Revenues
      For your business:
      Draw the funnel
      Reduce to as few steps as possible
      Know the conversion rate for every step
      Tweak, iterate, test until you know exactly how your funnel converts
    • Monetizing it
      Advertising
      Virtual Goods
      Revenues
      Subscriptions
      Downloads
      There are many sources of revenue
      Virtual goods / microtransactions are flavour du jour (and my favourite)
      In your own business, focus on ARPPU
    • Find the levers
      Users are not the only metric
      The others depend on your business, but might include:
      Page views
      Video views
      Game downloads
      Purchase of a virtual item
      A metric that you can’t influence is no good
      Focus on LEVERS
    • Digression: what do users buy
    • If you can, harness virality
      A viral business can be an insanely profitable business
      CPA is close to zero, so even if LTV is low, your business is great
      Time for Equation II:
      Viral coefficient = A% x B x C%
      Where
      A% = Percentage of your users who invite a friend
      B = Number of friends they invite
      C% = Percentage of friends who accept the invitation
      If viral coefficient > 1.3, time to order the Maserati
    • Levers are your secret weapon
      Find the metrics that have the biggest impact on the bottom line
      Try to reduce the metrics to one!
      Three is more usual
      Make sure they are LEVERS
      Laser-like focus on pulling and improving these LEVERS
      The result will be a better business and a happier team
    • Thank younicholas@gamesbrief.comFollow my blogwww.gamesbrief.comBuy my book