Wednesday 7 December 2016

Insight: Developing a digital revenue flow

Published 24/11/2013 | 20:30

Dualta Moore has funded the start-up himself to date – with no external sources of funding. And while he has managed to bootstrap the operation thus far, he is now keenly focused on developing the correct revenue model.

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The business currently operates what is known in the sector as a freemium model where users can access the website for free. This free model has, to date, helped the company achieve a growth rate of 35 per cent, month on month.

However, Dualta is now planning to offer a premium service where users can opt to gain access to advanced features and content for a fee. In doing so, he hopes to convert between 1 per cent and 3 per cent of users to a paying model and as a result begin to generate revenues.

He has introduced a number of new initiatives among staff, including hack-days where staff are encouraged to interview site users in order to elicit feedback which might help them in developing new products or services.

He has also introduced self-autonomy days where staff are encouraged to develop new ideas for the business, which he believes will help drive creativity and innovation in the firm.

Sunday Independent

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