Jeff Morris, Director of Product Management – Revenue at Tinder, shares his approach to identifying monetization opportunities, launching new products, and measuring success.
Tinder recently became the #1 revenue generating app in the Apple app store, so I was thrilled to interview Jeff to learn how he and his team achieved this milestone.
Jeff shares how he makes difficult decisions about what products and features to charge for and what to give away for free. He takes a data-driven approach to making these decisions and bringing products to market.
Jeff illustrates this approach by providing a behind the scenes look at the launch of Tinder Gold, the company’s flagship monetization product.
Instead of taking a “launch and learn” approach, Jeff and his team tested Tinder Gold in a few cities for a month and a half to get conversion and retention data that proved they should roll it out to the rest of Tinder’s user base.
Jeff then analyzes KPIs such as new subscribers, renewals, and churn to measure success and make optimizations.
You’ll learn a lot from this episode about quantitative analysis, data-driven decision making, and generating and testing ideas for paid products and features.
Here are the highlights:
- The most important things to think about when developing a monetization strategy (3:30)
- How Jeff generates new ideas for premium features (5:00)
- How Jeff tested the idea for Tinder Gold and brought it to market (8:30)
- The skills required to manage revenue products on an ongoing basis (9:50)
- How Jeff prioritizes ideas and sets a long-term product roadmap (11:20)