In our founders’ letter, we wrote about how we started Keye to give professionals easier access to premium content. In industries driven by access to information and news, this content has become an essential requirement for those striving to excel in their careers. However, the cost of these resources can quickly add up, putting a strain on the budgets of independent consultants, entrepreneurs, and small firms. In this post, we want to share a bit more about the core concept of how Keye solves this: bite-sized access to the tools and content you need to succeed.
When we looked at the kinds of services that enabled us to do our jobs and (attempt to) lead successful careers, we realized most of them fell into one of four categories:
- Data & Insights: Premium data and market intelligence platforms that help professionals make informed decisions based on market trends, industry data, and financial analysis.
- News & Information: Reputable news sources and information platforms that keep you up-to-date with the latest developments and add context to raw data.
- Productivity Tools: SaaS applications and other helpful tools that streamline workflows and help you get work done better or faster.
- Learning & Development: Courses and training materials that help develop new skills. We’ve always believed that being competitive as an individual or small business isn’t just about what you can offer today, but how you learn and get better over time.
All of these are services that, if you work at a large company, might be provided by your employer. If you don’t, you’re probably paying for the services you really need on a daily basis and forgoing others that might be helpful or pique your curiosity.
What we realized after talking to hundreds of founders, independents and SMBs is that those services that seemed like a “nice-to-have” for one company, often ended up being incredibly powerful enablers for other companies that did choose to buy them. For example, we talked to one startup that took a chance on buying Loom to support their outbound sales efforts, and ended up increasing their reply rate 4x. But other founders we spoke to often resorted to hacky workarounds like sharing passwords, or simply didn’t use the services at all. By doing so, they were likely leaving incremental revenue, time-savings or other opportunities untouched.
This is where the idea of fractional access comes in.
But first of all what is it? Bite-sized access simply means allowing a user to get partial access to a full subscription. In Keye’s case it means access to a website for a specific amount of time, such as one day, rather than the full length of the subscription. The benefit, or course, is also paying a fraction of the price. In this sense, Keye’s model is similar to a free trial, but it differs in a few important ways:
- Users access Keye services on their terms. Whereas a free trial is sometimes offered for a limited amount of time or as a one-off, bite-sized access let’s you break up your trial usage into chunks of time that suit your actual needs, so you can get real work done.
- Content providers get paid. Typically, a digital service would consider a free trial to be part of their acquisition cost. Users that look at their site and leave are considered “unmonetized” or “low ARPU”. With Keye, these users access their service, and Keye compensates the provider for that partial access.
So why is this model good for everyone?
With Keye’s model, everyone wins. New, price-sensitive users, who otherwise would never have shown interest in a product, now get to use it. When they use that service, the provider generates revenue, but also gets a chance to market to and convert that user to a full subscriber.
How It Works: The Specifics
1. Explore Keye’s Curated Collection: Keye offers a service catalog of over 30 premium sites spanning data & insights, news, productivity tools, and learning platforms. These services cater to a wide range of professional needs, from market research and financial analysis to staying up-to-date with the latest industry trends.
2. Use Your Credits: As a Keye subscriber, you’ll receive a monthly allocation of credits based on your subscription tier. These credits can be used to unlock access to any service on the platform. Whether you’re looking for insights from data analysis tools, news from reputable sources, or honing your skills through learning platforms, Keye allows you to ‘spend’ them on any of our partner services to get fractional access.
3. Seamless access: When you find a service you’re interested in, simply click to open the site in a new tab and gain 24-hour access. This approach offers the flexibility to explore premium resources without committing to long-term subscriptions up front. It’s the perfect solution for professionals who need specific tools on a project basis or want to sample various services before making a decision.
4. Variety and Affordability: By using the Keye platform regularly, you gain access to a broad range of resources that would typically cost a significant amount when subscribed to individually. If you come across a service that you want to use every day, Keye will help you purchase a full subscription from the provider.
5. Maximizing ROI: With Keye, you maximize your return on investment by paying only for the resources you use. No more paying for subscriptions that you only use sporadically – you’re in control of where your credits go.
Experience the Future of Professional Resources
In a market where information and tools are vital for success, Keye brings a fresh approach to the table that empowers professionals to explore, experiment, and excel. Whether you’re an entrepreneur looking to analyze market data, a consultant seeking insights, or a learner eager to expand your skill set, Keye provides a cost-effective and efficient solution that puts premium resources at your fingertips.
With bite-sized access you can try before you buy, enabling you to make informed decisions and thrive in your professional journey. Join us in embracing this innovative way to access the tools and content you need to succeed. Welcome to the future of work – welcome to Keye.