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Making Multi Million Dollar from WordPress Plugin without Paid Marketing

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Making Multi Million Dollar from WordPress Plugin without Paid Marketing

  1. 1. Making Multi Million Dollar from WordPress Plugin Without Paid Marketing
  2. 2. About Me 22 Nizam Uddin Co-founder & CEO at weDevs
  3. 3. It’s All about WordPress Plugin
  4. 4. 4 What I Learned in 7 Years, Delivered here in 7 Mins!
  5. 5. Outline 02 WordPress Market Size Idea & Planning 01 Post-Launch 04 Pre-Launch 03 7 Common Mistake Plugin owner should avoid 05 4 tips for Plugin Owners 06
  6. 6. 6 Market Size? Around 550 Million active plugins make WordPress a Multi Billion Dollar Market
  7. 7. Ideas & Planning 7 Think About What You’d Like to Achieve and Set Goals to Get There Research Existing Products to See How They Can Be Improved There Are Many Great Plugin Ideas Just Waiting to Be Developed Research Current Trends to Help you Generate New Plugin Ideas Rely on Your Own Experience As a WordPress User and Developer Start Point End Point
  8. 8. Follow Popular Tech Blog to Know The Current Trends GigaOM Mashable Gizmodo ZDNet TechCrunch
  9. 9. https://en.forums.wordpress.co m/forum/ideas/ Keep Eye on WordPress.com Idea Forum
  10. 10. Think about Specific Niche Market
  11. 11. Solve Real Life Problem with WordPress
  12. 12. Think about SAAS Seriously!
  13. 13. Think about Enterprise Solution!
  14. 14. Market Fit Business Model Pre-Launch What you should be doing before launching your WordPress business Content Marketing Distribution Channels Support Pricing
  15. 15. The Business Model 16 1. Provide the free version 2. Develop a demo or trial 3. Show the value proposition 4. Let the users upgrade 5. Offer Money back guarantee Steps Premiumor Freemium
  16. 16. Freemium vs. Premium 17 ❖ If the Product is simple and easy to use. ❖ There is a large potential market ❖ Usefulness increases with more users Freemium Works Best If ★ The Product has many features ★ The Market is Niche ★ Support Costs Are High Premium Works Best If
  17. 17. 18 Research Plugin Pricing in Your Market Test and Iterate Your Pricing Decisions Determine Your Plugin’s Value Don’t Undersell Yourself! Understand Pricing Psychology Calculate Your Costs and Overheads Pricing How much you are willing to get by selling your product
  18. 18. As for Example :
  19. 19. Lifetime Pricing Formula: Lifetime Price = 5 x Annual Price 1. Find the lifetime value of your customer - 2. How many years they use your product on average. 3. It’s basically 5 years!
  20. 20. Distribution Channels 21 In which marketing channels you should focus on
  21. 21. Creating a team who are experts in your products, energetic and well experienced in WordPress Live chat support Free support at WordPress.org First reply within 4 hours Customer Support 22 Provide service that would cost the user $100-$300 for free
  22. 22. Content Marketing Creating, publishing and sharing content with the goal of increasing visibility of your business to acquire users. 23
  23. 23. Market Fit Product/market fit means being in a good market with a product that can satisfy that market. 24
  24. 24. One metric for Product/market Fit is if at least 40% of surveyed customers indicate that they would be ‘very disappointed’ if they no longer have access to a particular product or service. Making Things That People Really Want 25
  25. 25. What you should be doing after launching your WordPress business ● Marketing and Promotion ● Legal: GPL Licensing ● Quality Control ● Understanding Human Brain ● User Behavior Analysis ● Featured on Blogs ● Reduce Abandonment ● Increase 5 Star Review Post Launch 26
  26. 26. Collect user emails with lead generating techniques The best time to show an opt-in to new users is right after plugin or theme activation. Email Marketing Guest Posting & Doing PR in popular websites, review sites and blogs Marketing & Promotion 27
  27. 27. Marketing Mix & Promotional Mix 28
  28. 28. Growth Hacking AARRR Framework
  29. 29. Growth Hacking from Philosopher Thales, so the story goes, because of his poverty was taunted with the uselessness of philosophy; but from his knowledge of astronomy he had observed while it was still winter that there was going to be a large crop of olives, so he raised a small sum of money and paid round deposits for the whole of the olive-presses in Miletus and Chios, which he hired at a low rent as nobody was running him up; and when the season arrived, there was a sudden demand for a number of presses at the same time, and by letting them out on what terms he liked he realized a large sum of money, so proving that it is easy for philosophers to be rich if they choose, but this is not what they care about. Thales of Miletus, 624 – c. 546 BC
  30. 30. Legal: Licensing Register and trademark your product name and launch it under GPL license as WordPress suggests. 31
  31. 31. Quality Control “Never compromise with quality”
  32. 32. How people's brain quirks work ● Unconscious processes happen in the ‘older’ part of the brain, called the ‘reptilian’ brain, while conscious processes happen in the ‘newer’ part of the brain. ● The conscious process is responsible for our self-awareness; the uniquely human side of us, if you will. ● Most cognitive processes come about as a result of the conscious process. Understanding Human Brain 33
  33. 33. Exploit Cognitive Imperfections of the Conscious Brain ● Attribution Error ● Confirmation Bias ● Self-Serving Bias ● Belief Bias ● Loss Aversion 34
  34. 34. User Behavior Analysis 35 Helps you to understand the next step you should take and develop strategy To understand user behavior of your WordPress plugin/ theme, you need to know - ★ Active and Inactive users ★ Version of PHP ★ Version of WordPress ★ Server software ★ Deactivation Reasons ★ Languages
  35. 35. Data Analysis:
  36. 36. Continuous Content Marketing ★ Phase 1: Research Topics and Create a User Persona ★ Phase 2: Create Quality Content ★ Phase 3: Conduct Outreach Use the user behavior analysis to come up with ideas and topics to perform content marketing: 38
  37. 37. Define What You’re Offering- ★ The Direct Approach: Simply Ask Bloggers for a Review ★ The Conversational Approach: Talk About Your WordPress Plugin (Almost) Every Chance You Get ★ The Social Approach: Take to Twitter, Facebook, LinkedIn, Et Al ★ The Write Approach: Craft Posts for Your Own Site (Or Hire Someone Who Can) ★ The Backward Approach: Find Your Users ★ The Stealth Approach: Scope Out Blog Authors Featured on Blogs 39
  38. 38. It’s easier to improve a WordPress plugin to reduce churn rate, than to generate leads via marketing Reduce Abandonment 40 Highlight Your Plugin’s Value Remind User Your Plugin’s Value Before Deactivation Capture User’s Feedback Before Deactivation Get Personal With Direct Feedback Emails
  39. 39. Increase 5-star Reviews 41 If you don’t ask users to review your plugin, you are losing tons of positive reviews. First Strategy – Extraordin ary Support Strategy #2 – Asking a favor back Making Reviews Rain – Automation
  40. 40. 7 Common Mistakes Plugin Owners Make 42 Complex User InterfaceGiving Free Unlimited Support for Life Having Multiple Unrelated Plugins Being Unaware of User Feedback Not sticking to WordPress.org official guidelines Writing code without thinking about compatibility Having One Massive Plugin
  41. 41. 4 Tips for Plugin Owners 43 33 Building Partnerships With Other Plugins 1 Build Your Minimum Viable Plugin 2 Asking For Reviews, The Right Way 4 Mass Emailing Done Carefully 01 02 03 04
  42. 42. Thanks! Does anyone have any questions? Finally, Let’s Connected with Each Other @Nizam5428 /nizamuddinbabu /nizamuddinbabu