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How businesses can make money with the Web 2.0 technologies

Discussion in 'Social Networks' started by arnoldsmithh, Dec 8, 2009.

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  1. #1
    Making money online isn’t a novel topic. People have been writing on various methods to earn money online. Monetizing your application is an important facet of this.

    There are ways to monetize your application which are as follows:

    - By selling your application – depending on your skills and killer social game idea, you can develop an application and then sell it.

    - Direct ad sales – Advertising on already popular applications

    - By generating installs – Driving web traffic to other’s website via your application.

    But the best method of monetizing your application is by selling virtual goods. People pay real money to buy virtual/digital goods on internet but the applications on which excessive micro-transactions occur are Facebook game applications. Social gamers are buying virtual weapons to combat in a fight and virtual presents to gift to their friends.

    For those who don’t know, Application is a way for businesses to communicate, interact and get closer with their customers. It’s not a product, it’s a service. These applications are free-to-play social games for the gamers to have an initial experience of the game. Players can then buy items to progress in the game as they contest.

    How you actually earn revenue from your application:

    As players buy virtual goods, you increase your revenue. There are methods for players to buy them. Either they pay via direct payment methods such as through PayPal accounts or by completing offers. In the latter, you integrate Offer platforms such as those from OfferpalMedia. Offer platforms display various offers to be completed in order to gain points or virtual goods in a game. It’s an alternative method of direct payment method known as Lead generation.

    The noteworthy fact here is that people really buy virtual goods for their enjoyment and fun and they are actually crazy about it. Fresh, Canny Entrepreneurs have utilized this fact to turn into brands. Douglas MacMillan has described the new hype as Runaway Success.
     
    arnoldsmithh, Dec 8, 2009 IP