When deciding whether or not to launch a self-serve monetization channel, what factors should I consider?

Self-serve monetization models are business models that allow customers to purchase products or services without the need for direct interaction with a sales team. Some examples of self-serve monetization models include subscription-based, freemium, pay-per-use, and marketplace models. While it's widely used, it will work not for all businesses and products.

Consider 4 key factors when choosing to go for self-serve monetization:

1. Your target audience.

Consider the needs and preferences of your target audience. If your audience is primarily composed of small businesses or individual customers, a self-serve monetization channel may be a good fit. However, if your audience is primarily large enterprises and b2bs, a more traditional sales approach may be more effective. Examples: Upwork for the mass market and Turing for large enterprises.

2. Your product.

Consider the nature of your product or service. If it is complex or requires significant customization, a self-serve monetization channel may not be the best option. In this case, a more personalized sales approach with a demo will be more effective. While for b2c consumer apps serve-serve is a norm. Examples: educational apps, wellness apps, and games are self-serve because that's how users expect them to be.

3. Your business model.

Consider how a self-serve monetization channel would fit with your overall business model. If your business model is based on recurring revenue streams, a self-serve monetization channel may be a good fit. However, if your business model relies on high-touch sales and support, a more traditional sales approach may be more effective.

4. Your resources.

Consider the resources that would be required to launch and maintain a self-serve monetization channel. This might include technology, personnel, marketing, and support. If you do not have the resources to support a self-serve monetization channel, it may not be the right option for your business.

I hope, it was useful!