I have developed a prototype and soon will be developing MVP. The problem I am solving has two users a corporate sector and second end user. I have a subscription model for corporate users but could not figure out end user monetization model. The end users are students and initially, my MVP will be based on students because the corporate solution is quite big and can’t be developed without an investor. To gain initial traction and prove my idea I decided to develop MVP on student solution which is a small part of the whole solution. I just want to figure out what should be the monetization model for a student app. I want to offer free service because students are always tight on budgets and students love free resources. If I offer free service how should I make money to manage the app?
By definition, monetization model means … is how you get from “not collecting money” to “collecting money”:
Base on your description, will this be too early as the MVP is not yet out and we don't have subscribers. We can design a monetization model when you have a reasonable size of free subscribers.
If you wanted to test whether your MVP can fetch some income, you should charge a subscription on your MVP to see people want to use it or not. Here we refer to this as designing the revenue model. - I believe you are at this stage.
The monetization model and revenue model are different strategies we should avoid using them loosely.
If you need help, please feel free to contact me