The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Andrew Boone - JMP Securities - Analyst
: Jeff, I wanted to ask a little bit about the pricing test that you talked about in the quarter. Can you talk about where pricing could go going forward?
And then just related to the larger move across the industry of moving to free that we've seen over the last couple of years.
And then for my second question, can you talk about the broader opportunity with MyLZ and some of the components of selling subscription after
the core formation? How do we think about conversion later in entrepreneurs' lifecycle as it relates to LegalZoom? Thanks so much.
Question: Andrew Boone - JMP Securities - Analyst
: Thank you.
Question: Ron Josey - Citi - Analyst
: Jeff, I wanted to talk a little bit more, understand your comments on market share versus quality share, and just understand just how we're going
to market overall, how the business is shifting the subscriptions, and maybe how this might impact market share going forward and that metric
in particular.
And then, Noel, on sales and marketing, we heard on the call both you and Jeff talked about more efficiently acquiring customers. Executing more
tests to get there. Any insights on what you're doing here to more efficiently acquire customers would be helpful. Thank you, guys.
Question: Kish Patel - Raymond James - Analyst
: This is Kish Patel. I'm for Josh Beck. As you look across S&B, how would you characterize the competitive environment with some others like Zen
Business and then maybe also who's more relevant on the consumer side? And in addition, can you discuss the macro environment as it relates to
current customer spending patterns as well as new business formations, and maybe how we should think about a rebound in 2025?
Question: Ron Josey - Citi - Analyst
: Thank you very much.
Question: Kish Patel - Raymond James - Analyst
: Understood. Thanks, Jeff. Appreciate it.
Question: Katie Kuser - Morgan Stanley - Analyst
: This is [Katie Kuser] for Elizabeth tonight. I wanted to double-click on the customer education piece. What are some of the initiatives that have
been most impactful to broadening out the scope of the portfolio to the broader customer base? Is there a specific point in the formations flow
where education has been most successful? And kind of looking ahead when customers are more engaged, kind of in practice, what's that first
tangible step in moving from discovery to monetization? Thanks a lot.
Question: Katie Kuser - Morgan Stanley - Analyst
: Super helpful. Thank you.
Question: Ella Smith - JPMorgan - Analyst
: So Jeff, first for you, you continue to see strength in your compliance subscriptions, but of course the overall business formation environment right
now is challenged. I would think that compliance subscriptions are generally cross-attached at formation. So can you please help me impact the
strength and compliance subscriptions in the current environment?
Question: Ella Smith - JPMorgan - Analyst
: That's really helpful. Thank you so much, Noel and Jeff. And as a quick follow-up, I know you talked about testing higher price points with a few
products, one of which was registered agent service. Are there any other products and services that you call out that you think there might be
some pricing power in?
Question: Ella Smith - JPMorgan - Analyst
: That's really helpful, Jeff. Thanks so much.
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