Making money with our software
Our software suite offers a fully-integrated Micro-Payment Accounting service - basically a "Credits" based e-commerce system built into all community services. Credits are a community’s unit of currency. They are the mechanism by which for-profit systems can charge for additional or premium services. Not-for-profit systems can use credits to regulate user activities.
These 'credits', used a micropayments for services, are the key to creating a successful revenue-generating online community. It essentially allows you to charge for everything a member does!
How it works
A user maintains an electronic wallet (in the form of 'credits' applied to their account) and uses this currency across all community services. Credits are drawn down automatically from this account for any fee-based services used on the system.
For example, a member can deduct credits to place an ad in the classifieds, deduct some more to purchase a product from the mall, and finally deduct another amount to download a special file from the File Libraries - all without having to pull out a credit card each time.
Every service has built into it options for surcharging: Charge for a special event chat with a celebrity, participation in a special forum, even sending an email - the options are endless. You can even reverse the process, and pay users for their participation!
All of our services are designed to provide opportunities for surcharging. We'll outline a few examples below so you can see how other products miss the boat when it comes to making you money.
File Library allows your users to share program and document files.
There are plenty of opportunities for surcharges here as well.
Credits increase a community’s e-commerce throughput
- People are more inclined to spend “intangibles” ("Credits" they've already paid for).
Using "credits" puts less risk on the sale as the decision point is less dramatic than pulling out a credit card.
- Credits can be pre-purchased, allowing you to profit from the float.
- Risk of sale loss is reduced as the customer decision-point is less distressed, as a “real” credit card is not involved.
- Lower credit card transaction fees. A customer can fill his electronic wallet with credits through a single credit card transaction, and subsequently purchase items free from nickel and dime transaction charges.
Credits enable vendors and marketers to establish E-centives programs, accumulating points for members who perform desirable activities. Customers or prospects can be rewarded for various activities by using credits / points for discounted or free merchandise.
Applying Credits to User Accounts
Credits can be applied to user accounts in many ways:
|Manually||Your staff can manually post credits from the remote sysop menu. You might do this, for example, if a member sent in a check for services.|
|Automatically||The system can automatically give a new user credits when he signs up. For example, a portal might give first-timers a small amount of credit. To make it interesting, the system could let them view but not participate in chat and forums, and view but not download the offerings in File Libraries. That way, first-timers get a teaser of features and benefits of the system.|
|Account Management System||
Members can purchase credits to spend on premium services or products from
the system's "Credit Store", "Cashier", or "Coupon Manager".
This is a great convenience to both the host and the member.
The member benefits from 1 payment being able to be used across many services,
and the host receives pre-payment for services.
|By Service||Various web services can optionally post credits to a member's account. For example, the Polls service can post credits upon completion of a poll. The File Library can reward members with credits for submitting files.|
|Through Transfer||Members can transfer credits to other members. This is a powerful Viral Marketing technique as users encourage and enable others to participate in premium service areas.|
|Via External Processes||The "Credit Deduction" functionality code logic is replaceable. This allows you to integrate with physical loyalty card programs or databases.|
Add Gamification engagement to your website
The rise of gamification and the increasing power of game thinking create substantial opportunity for social networks. Major brands like Nike as well as startups like Foursquare and Groupon have used game mechanics such as points, badges, levels, challenges, leaderboards and rewards to create and engage community while igniting viral growth.
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