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Getting Users Over the Hump: Boosting Conversion to Paid Lee Clancy SVP/GM IMVU Inc. October 12, 2010 Virtual Goods Summit...
Agenda <ul><li>What is IMVU? </li></ul><ul><li>IMVU’s 12 Lessons of Conversion </li></ul><ul><li>Q & A </li></ul>What’s IM...
What’s IMVU? An online community where members use 3D avatars to meet new people, chat, create, and play games with their ...
Company Overview <ul><li>Founded in 2004 </li></ul><ul><li>Based in Palo Alto, CA </li></ul><ul><li>100 employees </li></u...
Business Snapshot <ul><li>3D avatars </li></ul><ul><li>Virtual goods </li></ul><ul><li>Social network </li></ul><ul><li>Ga...
Revenue IMVU Revenue ($ Millions Per Quarter) $40M+ Annual Revenue Run Rate Profitable July 2009
Attractive Demographics <ul><ul><ul><li>70% Female </li></ul></ul></ul><ul><ul><ul><li>60% 18+ yrs old </li></ul></ul></ul...
#1: Take them to the store Diverting new users directly into the store = 20% lift in number of users buying goods
#2: Make them an offer they can’t refuse $0.99 offer = 150% increase in VIP members
#3: Give them many ways to pay
#4: Give them new ways to pay + = 15% lift in VIP signups & revenue
#5: Give them cool ways to pay <ul><li>$50 “3D Prepaid Card” </li></ul><ul><li>Collaborative effort with specific retail p...
#6: Keep your inventory fresh 4+ Million Virtual Items April 2004 October 2010
#7: Give them free stuff Gifts available only with purchase = 10%-20% lift vs. no gift
#8: Make spending cool
#9: Let them be creative More than 1/3 of IMVU revenue comes from Creators
#10: Turn users into sellers The top 20 virtual items sold represent only 0.2% of all credits spent
#11: Give them new ways to spend 3 new games = 10% of credits sunk via entire catalog
#12: Speak their language Coming soon!  Tune in next time for lift…
Shameless Plug We’re Hiring! www.imvu.com/jobs
<ul><li>Lee Clancy </li></ul><ul><li>SVP Product Management  </li></ul><ul><li>& GM Direct Revenue </li></ul><ul><li>IMVU ...
Customer Money Credits IMVU Creator Credit Sink IMVU’s Virtual Economy IMVU’s Virtual Economy
Consider secondary markets <ul><li>Users get cheap credits (vs. IMVU’s retail price) </li></ul><ul><li>Creators get to cas...
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Lee Clancy\'s Getting Users Over the Hump - Boosting Conversion to Paid at Virtual Goods Summit West

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Lee Clancy\'s Getting Users Over the Hump - Boosting Conversion to Paid at Virtual Goods Summit West

  1. 1. Getting Users Over the Hump: Boosting Conversion to Paid Lee Clancy SVP/GM IMVU Inc. October 12, 2010 Virtual Goods Summit - West
  2. 2. Agenda <ul><li>What is IMVU? </li></ul><ul><li>IMVU’s 12 Lessons of Conversion </li></ul><ul><li>Q & A </li></ul>What’s IMVU? Agenda
  3. 3. What’s IMVU? An online community where members use 3D avatars to meet new people, chat, create, and play games with their friends What is IMVU?
  4. 4. Company Overview <ul><li>Founded in 2004 </li></ul><ul><li>Based in Palo Alto, CA </li></ul><ul><li>100 employees </li></ul><ul><li>3 institutional rounds </li></ul><ul><li>$30M raised </li></ul>
  5. 5. Business Snapshot <ul><li>3D avatars </li></ul><ul><li>Virtual goods </li></ul><ul><li>Social network </li></ul><ul><li>Games & music </li></ul><ul><li>50M+ registered users </li></ul><ul><li>10M+ uniques/month </li></ul>Global unique visitor data from Quantcast: http://www.quantcast.com/imvu.com <ul><ul><ul><li>Registered Users (millions) </li></ul></ul></ul>
  6. 6. Revenue IMVU Revenue ($ Millions Per Quarter) $40M+ Annual Revenue Run Rate Profitable July 2009
  7. 7. Attractive Demographics <ul><ul><ul><li>70% Female </li></ul></ul></ul><ul><ul><ul><li>60% 18+ yrs old </li></ul></ul></ul><ul><ul><ul><li>60% USA </li></ul></ul></ul>
  8. 8. #1: Take them to the store Diverting new users directly into the store = 20% lift in number of users buying goods
  9. 9. #2: Make them an offer they can’t refuse $0.99 offer = 150% increase in VIP members
  10. 10. #3: Give them many ways to pay
  11. 11. #4: Give them new ways to pay + = 15% lift in VIP signups & revenue
  12. 12. #5: Give them cool ways to pay <ul><li>$50 “3D Prepaid Card” </li></ul><ul><li>Collaborative effort with specific retail partner (Target) </li></ul><ul><li>Higher price point resulted in incremental lift </li></ul><ul><li>“ 3D collectable art” reinforces brand </li></ul>
  13. 13. #6: Keep your inventory fresh 4+ Million Virtual Items April 2004 October 2010
  14. 14. #7: Give them free stuff Gifts available only with purchase = 10%-20% lift vs. no gift
  15. 15. #8: Make spending cool
  16. 16. #9: Let them be creative More than 1/3 of IMVU revenue comes from Creators
  17. 17. #10: Turn users into sellers The top 20 virtual items sold represent only 0.2% of all credits spent
  18. 18. #11: Give them new ways to spend 3 new games = 10% of credits sunk via entire catalog
  19. 19. #12: Speak their language Coming soon! Tune in next time for lift…
  20. 20. Shameless Plug We’re Hiring! www.imvu.com/jobs
  21. 21. <ul><li>Lee Clancy </li></ul><ul><li>SVP Product Management </li></ul><ul><li>& GM Direct Revenue </li></ul><ul><li>IMVU Inc. </li></ul><ul><li>[email_address] </li></ul><ul><li>www.imvu.com/jobs </li></ul>Q & A
  22. 22. Customer Money Credits IMVU Creator Credit Sink IMVU’s Virtual Economy IMVU’s Virtual Economy
  23. 23. Consider secondary markets <ul><li>Users get cheap credits (vs. IMVU’s retail price) </li></ul><ul><li>Creators get to cash credits out for real dollars </li></ul><ul><li>Resellers earn spread between creator sell & user buy </li></ul>

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