From day one there have been plans for ProjectPiglet.com to support many different use cases. At the core, it’s an analytics platform centered around people. On top of the platform you can search news, follow sentiment on politicians, get investing advice and more. With that in mind, from the start of the website development (early-2017) we laid out plans to eventually support three different paid plans, plus a free plan.
Today, we’re excited to announce the “Basic” and “Premium” plan split!
(The next two plans are “Enterprise (API access)” and “Free Search”, set for release later this year)
The Basic plan on ProjectPiglet.com is called “Discover” in our system, and comes with the following features:
- Search any topic
- Follow any topic
- Experts’ Opinions
- Promoter Score
- Top Related Stories
- Receive email notifications on followed topics
For those who’ve been with ProjectPiglet.com for Beta #1 and Beta #2, the Basic plan is essentially those features. There is no access to “Assets”, including the stock tracker, the cryptocurrency tracker, and importantly the “Trade Potential” engine. However, it does provide news updates (and example below):
Why the change?
It turns out, half of the users who fill out the ProjectPiglet.com survey, list the news emails as their favorite feature. Most of whom, never actually use the “Asset system”. Further, our open rates and click rates on emails are pretty astounding:
- 42% Average open rate
- 11% Average click rate
One item I should note, is that only 50% of users currently have this setup (46 of 106), the same percentage of users claiming it’s their favorite feature.
Basic Plan Price Justification
The average user also state they are willing to pay between $5 to $15 per month (a few users stating $0 / month and a few much higher) for said service.
With the survey results in mind, the new Basic plan is going to be priced at:
- $15 / month (for monthly change)
- $10 / month (for yearly charge)
Given this reduces the cost for people interested in everything besides Assets, I hope this converts more visitors, but also makes the current customers happy.
Finally, this will enable an entire separate service, which I’ve already tested at Lettergram.net (years ago). Daily emails of topics that interests you. However, with Piglet, we can literally have an entirely custom mailing list!
The Basic plan on ProjectPiglet.com is called “Expert Insights” in our system, and comes with the following features (in addition to Basic):
- Search any Cryptocurrency
- Follow any Cryptocurrency
- Search anyPublicly Traded Company
- Follow any Publicly Traded Company
- View (Assets):
- Trade Potential
- Price vs Experts’ Opinion
- Trade Volume vs Discussion
- Daily changes in:
- Experts’ Opinion
- Promoter Score
- Trend (Volume of Discussion)
There are also a few features coming in the next several weeks:
- Trade Potential Email Notifications
- Search by Trade Potential
- “Build a Portfolio”, track assets over time
From here on out, new features will primarily be built out for Premium users.
Premium Plan Price Justification
That is part of the reason the Premium plan is going to be priced at:
- $50 / month (for monthly change)
- $25 / month (for yearly charge)
You might think this is steep, however it is inline with similar systems such as Investors Business Daily:
Investors Business Daily provides a similar service, without the tracking of Experts / Insiders, the masses, etc. which ProjectPiglet.com provides. Further, there are several people in the surveys claiming they’d be willing to pay hundreds of dollars a month, others as little as $10. Given that dichotomy and where we are trying to take this, we feel the pricing is fair.
Finally, we are currently getting a 1.6% conversion rate (not bad for product price), which we feel can be improved via improving the landing page (43 new users with 2,600 new users visiting the site, this month).
New Landing Page
Finally, I think it’s important to note that this change also comes with a much needed refresh of the landing page.
First, the new registration box:
As you can see, it comes with two different billing types (Monthly and Annual) and the two different plans. Users already registered can simply go to their subscriptions tab in the top right of after they login. You can switch your subscription at any time, even keeping the coupon (which is autofilled if you have one applied):
In addition to the new registration box, I’ve also gone ahead and added three separate kinds of demos:
Each one of those buttons trigger a different kind of demo. Clicking the Invest Money button, brings the investment view:
Search News button brings a view you’d see when searching ProjectPiglet.com and it is similar to what you’d see in an email:
Finally, if you click the Follow Politics button, you can see the classic “Experts’ Opinion” chart, which has been on ProjectPiglet.com throughout it’s existence:
All of which are specific use cases for ProjectPiglet.com, and should help specifically highlight what given users are interested in. My only personal reservation, is that I should show all three at the same time (as all the features appear in the standard dashboard).
I think it’s important to note here, there is a high likelihood the Basic plan will continue to be supported by ProjectPiglet.com, but also be split into a separate brand via Lettergram.net. Project Piglet was always supposed to be a place holder and will likely be moved to a new name after the development of the various systems are complete. “InsiderOpinion” likely replacing ProjectPiglet.com, later this year.
Regarding the other plans mentioned at the top. The next plan to be released will likely be the “Free Plan”, which isn’t so much a plan as a website that’ll let you search. The largest issue I’ve faced developing Project Piglet is that there is a high entrance fee, thus lower conversion rate. I’ve tried to reduce this with tons of coupons, 30 days off, provide refunds for feedback, etc.
Even just today, I was receiving flack for sharing the service:
The fact is, building trust is hard. That’s why we release analyses, are writing this blog, and perhaps a free service would help people try the product prior to giving us a hard time.
The only thing holding back the our development of free search is really funds. Hence, we released the Basic and Premium plans. Assuming we can get somewhere in the neighborhood of 1,000 paying users (at 106 today), then we should have it completely covered. Which would let us further improve our branding and user registration.
Anyway, hope you’ve enjoyed the update! Stay tuned for more!