offerpal: monetizing traffic with virtual currency
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Offerpal Media Inc. Confidential
Incentivize and Monetize Social Traffic with Virtual Currency
SNAP SummitAnu Shukla
Founder & CEO, Offerpal Media, Inc.
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I. Why Virtual Currency?II. Top Ways Your Users Can Earn Virtual CurrencyIII. Integrating Virtual Currency Into the User ExperienceIV. Promoting Virtual Currency = MonetizationV. Optimizing Your Virtual CurrencyVI. Conclusion
Agenda
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Phenomenal Growth…• 68% of all US Internet users use social networks**• 580M+ social network users worldwide***• 29 Billion minutes spent on SN in July 08**• 67 Billion pageviews in July 08**
The Social Network Advertising Dilemma
* Robert Peck, Bear Stearns, August, 2007 ** comScore July 2008** * comScore World Metrix June 2008
Non-effective advertising• Interrupt-driven CPM banners: <50c CPM• Out of context CPC ads: <$1 CPM• Video ads: $1-$2+ CPM
SN Users as % of Total Internet Users*
0%
10%
20%
30%
40%
50%
60%70%
80%90%
100%
2006 2007 2008 2009 2010
90 %+ penetration870M+ Users by
2010
90 %+ penetration870M+ Users by
2010
829M Users
733M Users
89.6% 83.3%
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UserEngagement
>$100 eCPM
<10¢ eCPM
Highest Advertising Industry eCPMs
CPM Banners CPC Adsense
Monetization for Virtual Currency
and Digital ProductsMonetization
<$1 eCPM
Ave app earns $75/day per 1000 DAU, some >$200/day
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Virtual Currency in Social Applications
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Virtual Currency in Virtual Worlds
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Virtual Currency in Social Games
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Top Ways Your Users Can Earn Currency
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Top Ways Your Users Can Earn Currency
#1: Logging in
• Increases stickiness• Creates loyalty• Improves frequency
of return visits by 10 – 20%
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Top Ways Your Users Can Earn Currency
#2: Inviting Friends
• Increases virality• Quickens growth• Helps grow
applications up to 30% faster than without incentivization
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Top Ways Your Users Can Earn Currency
#3: Completing Tasks
• Deepens user engagement
• Focuses user attention• Increases user activity
up to 20x or more on incentivized activities over non-incentivized activities
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Top Ways Your Users Can Earn Currency
#4: Completing Offers
• Monetizes traffic• Taps into user motivation• Generates on average $75
per day per 1,000 Daily Active Users
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Integrating Currency Into the User Experience
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Integrating Currency Into the User Experience
MMORPGs:
• Allow users to communicate with their friends in a fun and competitive environment
• Use points, levels, and currency to fuel competition and keep the user focused on advancing within the game
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Integrating Currency Into the User Experience
Functional Goods in MMORPGs:
• Goods that meaningfully alter the user experience
• Allows users to add more weapons, increase protection, add more lives, etc.
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Integrating Currency Into the User Experience
Providing Tips: • Focuses user’s attention on
what you want them to do• Shapes user behavior and
click-paths
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Integrating Currency Into the User Experience
Social Interactions:• A form of self-expression in a
social context• Contribute to a cause • Currency is earned to
facilitate the exchange
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Integrating Currency Into the User Experience
Customization:• Customizing the avatar
increases user investment and creates a barrier to exit
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Promoting Virtual Currency = Monetization
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Promoting Virtual Currency = Monetization
Promote currency within your app
• Use banners, prestitials, reg-path offers or other forms of display ads
• Include buttons or tabs in your nav bar, status bar, and other consistent placements
• Currency-driven banners generate 10x click-through rates of non-incentivized banners
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Promoting Virtual Currency = Monetization
Integrate currency into the game experience
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Promoting Virtual Currency = Monetization
Promote currency on other apps/sites
• Remind users to return your app
• Re-engage with inactive users
• Target inactive users on relevant sites/apps
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Promoting Virtual Currency = Monetization
Use multiple communication vehicles:
• Email• Notifications• Contextual touch
points
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Optimizing Your Virtual Currency
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Optimizing Your Virtual Economy
Maintain a balanced economy
• Manage inflation by not issuing too much currency
• Monitor trades or exchanges, if allowed
• Keep an eye out for “gold farming” and fraud
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Optimizing Your Virtual Economy
Setting your exchange rate
• Increases or decreases to your exchange rate can impact revenue numbers between 5 – 25%
• Adjust the exchange rate based on• Which level the user is at within your
game• A specific advertising offer• The behavior of specific users• Etc.
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Optimizing Your Virtual Economy
Measure, Test and Analyze
Offerpal Media’s testing platform monitors and optimizes: • Revenues • eCPM• Click-Through Rates• Take Rates• Exchange Rates• Conversions• Revenue/Click • Revenue/Completion
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