COURSE THREE OF THREE
Monetization Strategy Course
At 10 hours / week
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Enroll today for 30% off this course and unlock 30% off the complete Growth Product Manager Nanodegree program!
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Some prior Product Management experience is recommended.See detailed requirements.
Learn the parts of a balance sheet that are impacted by product strategy, and understand the goals and basic moves of a growth monetization strategy. Understand the basic blocks for building a monetization strategy, and how to evaluate one using scorecards.
Differentiate between different buyer personas, such as consumer versus professional. Examine how the nuances in motivations of different buyer personas informs the targeting strategy. Identify the right channel to acquire new customers for each persona and develop tactics suited to each persona and channel combination
Identify the different stages in the “Path to Purchase” and how it is optimized for paid conversion. Understand the tradeoff between adoption, conversion, and revenue, to set optimal targets aligned with business goals. Learn the impact of UX design on the path to purchase and the leverage of buyer psychology on purchase conversion. Develop KPIs and scorecards for monetization to understand conversion efficiency.
Learn methods to identify what constitutes premium value for a buyer persona and how that translates to business value and apply tactics to amplify premium value identified for each persona. Understand the economic efficiency of acquiring customers using the unit economics model, and calculate KPIs including Lifetime Value (LTV), LTV : CAC, and the importance of recovering the CAC as soon as possible to optimize the payback period.
Learn what a pricing metric is, how it maps to the customer’s premium value and its importance in aligning incentives between buyer and seller. Distinguish between the different pricing metrics and how to decide an optimal range for the price amount. Build a pricing plan that optimizes for market share, revenue, profit, retention, and upsell, and calculate those KPIs. Learn how to build a growth accounting model for both customers and revenue.
In this project, you will apply the skills you have developed in the course to build a monetization model for a post-revenue B2B SaaS business, and then come up with hypotheses about potential changes to the monetization strategy. Using a provided description about the company, its product, pricing scheme, and a dataset of recent customer transactions, you will build monetization models for this business. Based on these models, you will then come up with a couple of hypotheses about changing the pricing metric and pricing plans to optimize the business’ monetization strategy. Lastly, you will create an experimentation plan to test these hypotheses.
VP of Product & Design at Sendoso
Rizwan started as an engineer at Microsoft, which led to a transition into product management. He was previously a Product Lead at Credit Karma, and designed the pricing and subscription model as a Product Lead at Postmates. He has also been the Director of Product at StackShare and HackerRank.
Enroll today for 30% off this course and unlock 30% off the complete Nanodegree program!