Maximizing subscribers (and revenue) for my web-based stock option analysis system
Posted on 2014-04-23
Hello EE Consultants, I would really value your thoughts on this: I'm about 70% done on a stock options financial analysis software, that takes a really original angle at analyzing options and finding the one that yields the most profit. I plan to implement this in "Delphi-for-the-web" (ie. Intraweb by Atozed software) and ultimately charge users a monthly subscription fee to log in to the site and use the software (anywhere from $10 to $50/month... not sure yet). Anyway, I'm wondering what approach would garner me the most subscriptions and ultimately, revenue :
(a) Launching it on a paid basis right off the bat, and build up subscribers as I go.
(b) Launching it as a completely free service, getting - hopefully - thousands and thousands of subscribers... letting it stay free for 6 or 7 months or so, then announcing something like "server costs have become too high, I'm afraid I have to start charging a nominal fee". By that time, I might have a hundred thousand subscribers (who knows? People love free stuff) and many of them might find my analysis indispensible by that time. To maximize revenue even further, I was thinking I could then take a random sample of a thousand or so of my subscribers and through a clever "questionnaire", determine what price they would be willing to pay for the service going forward
As you can tell, I like the potential of option (b) and I'm leaning towards that. But what do the experts think?