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The Money Making Techniques every startup should know (by @boardofinno)
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The Money Making Techniques every startup should know (by @boardofinno)

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cases & examples by www.boardofinnovation.com on why people put money on the table. Digital revenue models explained. (facebook, zynga, flickr, app.net, kickstarter, evernote, yammer,...) - Board of ...

cases & examples by www.boardofinnovation.com on why people put money on the table. Digital revenue models explained. (facebook, zynga, flickr, app.net, kickstarter, evernote, yammer,...) - Board of Innovation

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The Money Making Techniques every startup should know (by @boardofinno) The Money Making Techniques every startup should know (by @boardofinno) Presentation Transcript

  • The Money Making Techniques Every Start-up should know. @boardofinno by @nickdemey boardofinnovation.com cc flickr zizzy
  • In this slide deck 17 Techniques 36+ Examples
  • Avoid your Kodak or Nokia moment… hire our team coffee@boardofinnovation.com
  • The #1 question innovators ask us:
  • “What revenue model should I use?” = the wrong question to ask. “Why will people pay me?” = the right question.
  • First understand why people put their money on the table.
  • First understand why people put their money on the table. Only then explore how you can capture that value with a strong business model.
  • . Like a Boss . Be part of a Mob . Mystery & Thrills . “I own this Sh*t” . Collection Completion . Keeping secrets . Harder, better, Faster! . the VIP-treatment . Push the buttons . Just like me . Serve me . The clock is ticking . Reduce guilt/ fairness . Mine is bigger . Show me the numbers . Call me maybe? . Fear of missing out What is missing? 
 tip us @boardofinno or @nickdemey 17 Why people pull out their wallet:reasons
  • People want to look professional. cc flickr Thompson C Let’s start with the first technique Like a Boss Download all slides as PDF
  • People want to look professional. Example: Chocolat App If you don’t pay $49 the font of this Mac text editor will change to Comic Sans. The horror.
  • People want to look professional. Example: Windows Vista You don’t want to be that manager/sales lady/... who opens up “Home Basic” in a meeting, right? vs
  • People want to look professional. Example: Slideshare.net The only reason why we pay Slideshare $190/year is that our decks wouldn’t look like this... ADS
  • People want to look professional. Example: Slideshare.net The only reason why we pay Slideshare $190/year is that our decks wouldn’t look like this... < but like this.
  • People want to look professional. Example: Flickr.com Some people pay $25/y just to have the PRO badge. and so on...
 you get the message.
  • People want to belong to a group, something bigger. cc flickr Natural-Heart Be part of a Mob Download all slides as PDF
  • People want to belong to a group, something bigger. Example: Founderscard.com A €495 membership to get access to exclusive perks for entrepreneurs. You have to know someone (referral code) to get access. #smart
  • People want to belong to a group, something bigger. Example: App.net Would you pay to use Twitter? Some do! App.net offers a paid alternative. But on twitter you’re a user, here you’re a member, starting at $5/m. ! You share a common goal: open ad-free social network
  • People want to belong to a group, something bigger. Example: Kickstarter.com You’re not a user, member but a backer on kickstarter. You pay (donate) money to become part of a movement. For some the actual product is optional. Being part of the process is more important.
  • To experience and discover new things cc flickr dominiqueb Mystery & Thrills Download all slides as PDF
  • To experience and discover new things c - yanidel.com Example: Zynga Farmville What’s in the box? To discover the contents gamers could 
 spam 10 friends or 
 pay 20 Farm Coins ($10 = 55 Farm coins) This is one of the most lucrative ‘gambling’ techniques used in Free- to-play games these days.
  • To experience and discover new things Example: Carrot Todo app This paid iOS app ($0.99) has an attitude. It might get mad at you, tease you, and so on... Very smart tactic to differentiate the app from the thousands of other Todo apps. Many in-app purchases are available.
  • People hate to lose things. “I own this Sh*t” Download all slides as PDF
  • People hate to lose things. Example: Pinboard.in Yahoo decide to close down the free service Delicious. Pinboard quickly launched a paid alternative to save your bookmarks. 10$ - one time fee
  • Example: Gmail.com When Gmail is full, you don’t won’t to sort out thousands of mails to see what can be deleted. You just pay. ! Starting at 5$/y for 20Gig People hate to lose things.
  • cc flickr alexnako People love to complete a set when possible Collection Completion Download all slides as PDF
  • cc flickr Natural-Heart People love to complete a set when possible Example: Fontshop.com You might have enough with 3 fonts version. (italic, bold,...) but when there are 16 variations in total some people will just buy them all. Just to be sure and for the sake of completeness.
  • cc flickr Natural-Heart People love to complete a set when possible Example: Humble Bundle The pay-what-you-want model is already smart but in order to have all 9 games, the full package, you have to pay more than average. ! An easy nudge to put more money on the table.
  • cc flickr verbeeldingskr8 Able to control privacy Keeping secrets Download all slides as PDF
  • cc flickr verbeeldingskr8 Able to control privacy Example: Livestream.com Remove your videos from the public stream or the ability to set a password are Premium features. ! $333/month.
  • cc flickr verbeeldingskr8 Able to control privacy Example: Godaddy.com Cheap domain names are nice but if you want to keep your registration info private you pay extra on top. ! $9.90/y (without discount)
  • To speed things up cc flickr scubabrett22 Harder, better, Faster! Download all slides as PDF
  • To speed things up cc flickr scubabrett22 Example: Rapidshare.com This file sharing services limits the download speed of free users. Parallel downloads are also only available for paid users. ! €8.33/m
  • To speed things up cc flickr scubabrett22 Example: Evernote The files stored by Premium members are processed faster than free members. ! For €40/year people can go Premium.
  • Let people be first/ focus on exclusivity cc flickr dcmetroblogger the VIP-treatment Download all slides as PDF
  • Let people be first/ focus on exclusivity Example: Steam Some gamers pay to play unfinished games solely for the right to experience the game first. Do note: It’s not a pre-sale.
  • Let people be first/ focus on exclusivity Example: Plex Media App A subscription on the plex pass (starting €3.99/m) gives users early access to new features. To iOS app itself costs already $4.99.
  • Give users the right to tweak/ control Push the buttons Download all slides as PDF
  • Give users the right to tweak/ control Example: Yammer.com In order to manage a large user base or to change specific settings many services provide premium paid features for admins. ! Yammer: 3$/user/month
  • Give users the right to tweak/ control Example: Appmakr.com This app iphone builder offers Premium users the ability to add custom lines of codes and to tweak the HTML. ! $79/app/month
  • . Like a Boss . Be part of a Mob . Mystery & Thrills . “I own this Sh*t” . Collection Completion . Keeping secrets . Harder, better, Faster! . the VIP-treatment . Push the buttons . Just like me . Serve me . The clock is ticking . Reduce guilt/ fairness . Mine is bigger . Show me the numbers . Call me maybe? . Fear of missing out What is missing? 
 tip us @boardofinno or @nickdemey 17 You are halfway!reasons
  • Let user personalize their experience Just like me Download all slides as PDF
  • Let user personalize their experience Example: Wetransfer.com This file transfer service offers numerous options to personalize the branding & experience. !
  • Let user personalize their experience Example: Windows 7 As a bad example, Windows 7 Starter edition (the cheapest version) didn’t allow customers to change the desktop background. A bad decision that created a lot of frustration.
  • People will always pay for convenience Serve me Download all slides as PDF
  • People will always pay for convenience Example: Shoeboxed.com This app takes away the hassle to keep track of receipts & expenses. You take a picture, the scanning services does the rest. ! Starting at $9.95/m
  • People will always pay for convenience Example: useSold.com A newcomer in the field of e-commerce. Just take a photo of an item you want to sell. They do the rest (from price setting to shipment). ! They take a (secret) margin on top of your payout.
  • Add enough time pressure The clock is ticking Download all slides as PDF
  • Add enough time pressure Example: 
 Business Model Hub The faster you joined this online writing community the lower entry ticket was. 
 The fee started at $24 and rose gradually to $243.
  • Add enough time pressure Example: iBood.com One of the easiest tricks of the book. Deals or offerings that are limited in time. iBood has 1 offer available per day. Take it or leave it.
  • People want to limit negative feelings. Reduce guilt/ fairness Download all slides as PDF
  • People want to limit negative feelings. cc flickr kenstein Example: Godaddy.com When buying domain names (or other impulsive products) people might feel guilty. To reduce this ‘negative‘ feeling you could link your product to charity. The “round up” approach is a nice way to tackle this.
  • People want to limit negative feelings. cc flickr kenstein Example: iTunes Many people still buy music because it “feels right”. They don’t think it’s fair to download music via torrents. For some products it helps to emphasize that “you did the right thing.”
  • cc flickr gioxxswall Some (men) like to brag or show off. Mine is bigger Download all slides as PDF
  • cc flickr gioxxswall Some (men) like to brag or show off. Example: I am Rich app Remember this extreme case? Several people actually paid $999.99 to have an app that does nothing more than showing a red diamond, just to show off.
  • cc flickr gioxxswall Some (men) like to brag or show off. Example: ARGirl There should be an app category: “show off at parties”. Many small paid apps have only one goal. Trying to impress friends with the next (paid) gimmick.
  • People like to get insights cc flickr seenoevil Show me the numbers Download all slides as PDF
  • People like to get insights Example: Polar app While this health tracking app is free you have to pay to have a better understanding of the figures. ! $5 for 5min status check.
  • People like to get insights Example: Runkeeper Elite You can track your workouts with Runkeeper but to get detailed insights in your performance you have to upgrade. ! $19,99/year
  • Let people communicate/ connect cc flickr nnova Call me maybe? Download all slides as PDF
  • Let people communicate/ connect Example: SinglesAroundMe This app scans your neighborhood for matches. But the number of messages you can send is limited. ! Paid in-app upgrades are available to continue the conversation. Up to $19.99 per package.
  • Let people communicate/ connect Example: Facebook.com Facebook is experimenting with paid conversations (if you want to message strangers). ! $1 to reach the inbox
  • People want to get notified c - yanidel.com Fear of missing out Download all slides as PDF
  • People want to get notified c - yanidel.com Example: unfollowed.me Would you pay $4.99 to get notified when people unfollow you on twitter? This paid service believes you will!
  • People want to get notified c - yanidel.com Example: Netvibes.com This social media monitoring services has premium alert features to get notifications & alerts. ! The service ain’t cheap: $499/month
  • People want to get notified c - yanidel.com Example: TomTom GPS An expensive in-app purchase of €29.90 to have access to 1 year of traffic alerts. This update is the #1 paid feature for this app (on top of the 1 time €89.99 fee to install the car nav app).
  • 17 Techniques Smart digital revenue models combine a selection of these Download all slides as PDF
  • Collection Completion People have control. Doing Good Thrill to win. Public list, to brag. Example! Time Pressure
  • Go!It’s up to you!
  • www.boardofinnovation.com @boardofinno @nickdemey www.boardofinnovation.com/training We give training to corporates on Business Model Innovation & Intrapreneurship