Download - Cary Rosenzweig's Presentation
Cary RosenzweigCEO
IMVU Inc.
Social Gaming + Virtual Goods SummitLondon
November 12, 2010
Converting Free Users to Paying
• What is IMVU?
• 12 Lessons: Convert Free Users to Paying
• Games and Europe
• Q & A
Agenda
Agenda
What is IMVU?
An online social entertainment destination where members use 3D avatars to meet new people, chat, create, and play games with their friends
Company Overview
• Founded in 2004
• Based in Palo Alto, CA
• 100 employees
• 3 institutional rounds
• $30M raised
Business Snapshot
• 3D avatars
• Virtual goods
• Social network
• Games & music
• 50M+ registered users
• 10M+ uniques/month
Global unique visitor data from Quantcast: http://www.quantcast.com/imvu.com
Registered Users (millions)
0
10
20
30
40
50
60
Dec-05
Mar-06
Jun-06
Sep-06
Dec-06
Mar-07
Jun-07
Sep-07
Dec-07
Mar-08
Jun-08
Sep-08
Dec-08
Mar-09
Jun-09
Sep-09
Dec-09
Mar-10
Jun-10
IMVU is growing and healthy
IMVU Revenue ($ Millions Per Year)
$0
$10
$20
$30
$40
2006 2007 2008 2009 2010
Attractive demographics
70% Female
60% 18+ years old
50% USA
12 Lessons
For Converting
Free Users
To Paying Ones
Diverting new users directly into the store = 20% lift in number of users buying goods
#1 Take them to the store ASAP
#2 Make them an offer they can’t refuse
$0.99 offer = 150% increase in VIP members
11IMVU Confidential
#3 Give them many ways to pay
#4 Give them new ways to pay
+
= 15% lift in VIP signups & revenue
#5 Give them cool ways to pay
$50 “3D Prepaid Card”
• Collaborative effort with specific retail partner (Target)
• Higher price point resulted in incremental lift
• “3D collectable art” reinforces brand
#6 Keep your inventory fresh
4+ Million Virtual Items
April 2004 October 2010
#7 Give them free stuff
Gifts available only with purchase = 10%-20% lift vs. no gift
#8 Make spending cool
#9 Let them be creative
More than 1/3 of IMVU revenue comes from Creators
#10 Turn users into sellers
The top 20 virtual items sold represent only 0.2% of all
credits spent
#11 Give them new ways to spend
3 new games = 10% of credits sunk via entire catalog
IMVU = Social Entertainment
#12 Speak their language
Now in Swedish!
… Dutch, French, German, Italian, Spanish,
Portuguese
… and more!
Customer
Money
Credits
IMVUCreator Credit Sink
IMVU’s Virtual EconomyIMVU’s Virtual Economy