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Offerpal Media - Ten Tips For Monetizing With Virtual Currency (Nick Talarico, Facebook Developers Garage - Taipei)
- 1. 際際滷 title goes here Monetizing Social Games: A Step-by-Step Guide Nick Talarico Director of Publisher Development, Offerpal Media, Inc. www.facebook.com/ntalarico @nptca Offerpal Media Inc. Confidential
- 2. First, a bit about Offerpal Media
- 3. Company Background Quick Facts: Management Team: 100+ million Unique Visits / mo. George Garrick, CEO 4+ million transactions / mo. Mitch Liu, Co-founder & VP Venture capital funded: June, Bill Lonergan, CFO 2007, and February, 2009 Mihir Shah, CRO o Interwest Partners Naghi Prasad, VP Engineering o Northbridge Venture Partners Shannon Jessup, VP Sales o D.E. Shaw Ventures Launched October, 2007 Headquarters: Fremont, CA Offerpal Media is built on the science of inserting scientifically targeted and relevant advertising offers into the virtual economies of social web sites, games and applications.
- 4. Pioneer in Virtual Currency Monetization In 2007, Offerpal Media launched the first platform to give consumers a way to earn virtual currency for free whether by participating in targeted ad offers, completing online surveys or shopping at brand-name retailers. Today, we have: 165 Million User Accounts 4,000 Advertising Offers 2,000 Publishers/Developers 750 Billion Virtual Points Issued $19.6 Million in Venture Funding
- 5. User Flow 1 2 3 4 2
- 6. First, some things to consider
- 7. Not All Games Monetize the Same Schwarzenegger DeVito
- 8. Not All Games Monetize the Same Consider: The Type of game compelling theme & mechanics? (below) The Demand for Virtual Currency The Balance of Sources & Sinks (+ Non-Monetizing Sources) The Promotion of the Monetizing Sources User Engagement & Retention (DAU:MAU) All of these things, when optimized, will improve monetization. >$150 eCPM Card Games $400 RPGs & MMORPGs $225 <$1 eCPM Resource Management Games $200 <10蔵 eCPM Owning $150 Monetization for Virtual Category Trivia $25 Monetization Currency and CPM Digital CPC Adsense Products Banners User eCPM Engagement
- 9. First of all, Make It Fun Before you do anything, ask yourself: Is your game fun? Will users come back? Will they invite their friends? If not, go back to square one. Monetization mode comes AFTER your game is engaging and viral.
- 10. And now 10 Steps for Monetizing Social Games
- 11. Tip #1: Define Your Sinks Some Types of Sinks: Functional Goods Decorative Goods Behavioral Goods
- 12. Tip #1: Define Your Sinks Types of Sinks: Functional Goods Decorative Goods Behavioral Goods
- 13. Step #1: Define Your Sinks Types of Sinks: Functional Goods Decorative Goods Behavioral Goods
- 14. Step #2: Assign Currency to Your Sinks Dual Currencies: Use in-game currency to engage users Use RMT currency to monetize Assign currencies to each sink or set of sinks The decision to use multiple currencies may be one of the biggest decisions you make. Happy Harvest uses Game Coins for its engagement currency and Credits for RMT currency.
- 15. Step #3: Define Sources for Your Currencies Types of Sources: In-game currency Missions/Quests Logging in RMT currency Cash payments Ad offers Shopping & more to come
- 16. Step #3: Define Sources for Your Currencies Types of Sources: In-game currency Missions/Quests Logging in RMT currency Cash payments Ad offers Shopping & more to come
- 17. Step #3: Define Sources for Your Currencies Types of Sources: In-game currency Missions/Quests Logging in RMT currency Cash payments Ad offers Shopping & more to come
- 18. Step #3: Define Sources for Your Currencies Types of Sources: In-game currency Missions/Quests Logging in RMT currency Cash payments Ad offers Shopping & more to come
- 19. Step #3: Define Sources for Your Currencies Types of Sources: In-game currency Missions/Quests Logging in RMT currency Cash payments Ad offers Shopping & more to come
- 20. Step #3: Define Sources for Your Currencies Types of Sources: In-game currency Missions/Quests Logging in RMT currency Cash payments Ad offers Shopping & more to come
- 21. Step #4: Get them hooked Balance engagement with monetization: Engage your users first & monetize once engaged Allow all to play, but let people pay to advance more quickly Focus on constant balance between sources and sinks (the sinkhole must always be slightly larger)
- 22. Step #5: Set Your Exchange Rate Tips on setting the exchange rate: Too low = low perceived value Too high = high inflation Find the sweet spot by using Offerpals Multivariate Testing Platform (free like all Offerpal products) =
- 23. Step #6: Launch Game vs. Users of Facebook games expect them to be alive constantly evolving and improving. Release games when theyre not 100% finished and iterate with improvements as new features.
- 24. Step #7: Promote Your Virtual Currency Promotion = Monetization Add a tab to Add Credits Include balance in a status bar Use newsfeeds, notifications, banners and other messaging opportunities
- 25. Step #8: Keep Demand for Currency High What drives demand? User psychology Self-expression Collection Achievement Limited edition goods Level-specific goods Perishable goods New, fresh content Global leaderboards & social competition
- 26. Step #9: Maintain a Balanced Economy Tips for a healthy economy: Try upping exchange rate for a day & promoting it to users. NEVER (ever) flood your RMT currency. Ever. Seriously. Dont keep the economy too tight remember, its free to play If your economy is too loose (if its too easy to acquire currency), then youre missing out on monetization.
- 27. Step #10: Test, Measure, Optimize What to test? Attribute Graphs Exchange rate Price points User Interface options User patterns Use the Offerpal Virtual Currency Analytics System (free like all Offerpal products) Trend Graphs
- 28. Questions? Sign ups? www.Offerpal.com @Offerpal http://myofferpal.wordpress.com www.facebook.com/ntalarico @nptca