Today we’ve released a new version of Mindlogr which adapts to our new model for moving forward.
Mindlogr has been a project which started in early 2013 and has progressively grown since then slowly. Originally called Diarymemo, it was soon changed to fit the growing interest in digital wellbeing and mental stress management.
Whilst it’s been steadily growing, we’ve been trying to figure out the best way to make this platform widely available and accessible to as many people as possible, whilst also keep in mind that we need to make it work financially to ensure that it can continue to exist.
The idea is a good idea and we’ve found that there are lots of people who are interested, however due to the evolving nature of the idea, it’s difficult to understand why people are attracted to the platform, and more importantly how we can make it viable so that existing users can continue to use it knowing that the platform is in a financially stable place.
From the start we adopted the FREEMIUM model for startups because we thought that this would be the best balance between giving people a place to test and trial the platform, but also giving power users more features.
The freemium model is adopted by many consumer and business startups, because it is a fast and easy way to attract users to the platform, but more importantly for this group of initial users to share with their peers easily.
Almost all new startup ideas have some element of social media/networking within them and thus the freemium model is this trade off for the user where the platform has built in mechanisms to ensure that sharing is a widely done activity. In fact many sharing platforms will request a share as part of their onboarding process, the part where you get introduced to the platform.
Unfortunately after trying this model, our own research and testing has concluded that it doesn’t work for our platform. The inherent nature of private videos and privacy of the accounts means that Mindlogr is primarily an individual and personal experience, and not one which is shared across social networks.
As such the freemium model falls down for us because users who join for free have no reason or requirement to share the platform. Free users essentially don’t help us to grow the platform at all, and thus jeopardise the viability overall.
After much deliberation, research and customer surveys, we’ve decided to move to a model which means that there is a 30 day free trial and then a nominal charge of $1/month for standard users. We feel that this is a fair price to pay and our research and surveys show that the majority of users agree.
We hope that this will enable us to grow more and be able to develop faster to keep improving Mindlogr and allow passionate users to have the best experience of the platform knowing it is working well with a financially stable model that means it will be around for a long time.