Kachingle presentation at EuroFinance 2009
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Kachingle presentation at EuroFinance 2009

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Cynthia's presentation at EuroFinance 09 on 10/22/09 (slightly modified).

Cynthia's presentation at EuroFinance 09 on 10/22/09 (slightly modified).

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Kachingle presentation at EuroFinance 2009 Kachingle presentation at EuroFinance 2009 Presentation Transcript

  • Crowdfunding Sites You Love Micropayments for Digital Goods in a Social World Presentation for EuroFinance 2009 by Cynthia Typaldos, Founder & President, Kachingle 10001001010011001001000100101111100011001010001010010100010000100000…
  • For news and content sites, advertising is not paying the bills. The Problem
  • Theorem Anything that can be digitized will be napsterized Newspapers Magazines Books Music Photos, Images, Art Video, TV, Movies 10001001010011001001000100101111100011001010001010010100010000100000… FREE! Previously - $$$$ or € or ¥ or..
  • Micropayments sound good BUT… “… the act of buying anything, even if the price is very small, creates what Nick Szabo calls mental transaction costs , the energy required to decide whether something is worth buying or not, regardless of price.” “… beneath a certain threshold, mental transaction costs actually rise , a phenomenon is especially significant for information goods. It's easy to think a newspaper is worth a dollar, but is each article worth half a penny? Is each word worth a thousandth of a penny? A newspaper, exposed to the logic of micropayments, becomes impossible to value.” — Clay Shirky http://www.shirky.com/writings/fame_vs_fortune.html
  • individual consumer/ user producer Whose value system is applied? Ease of use (reduction in “mental transaction costs”) difficult effortless Micropayments
    • Decide each time
    • At price set by producer
    • No financial limits
    • Encourages copycat sites
    • Creates barriers for viral & social behaviors
    • Negatively affects ad revenue
    beside advertising…what are the choices?
    • Decide each time
    • At a price explicitly set by user
    • No financial limits
    • Co-exists with advertising
    • Enables viral & social behaviors
    Tipping Subscriptions
    • Decide once (for each subscription)
    • At price set by producer
    • No financial limits
    • Encourages copycat sites
    • Negatively affects ad revenue
    • Creates barriers for viral & social behaviors
    Kachingling
    • Decide once (for everything)
    • At a price implicitly set by user (equitably distributed)
    • Financial limits (bounded total $)
    • Co-exists with advertising
    • Enables viral & social behaviors
    • Social recognition & association
  • How Kachingle “Automates” Micropayments
  • Are there parameters for success in the implementation of consumer micropayment systems?
    • user-centric
    • no “mental transaction costs”
    • tap into existing social networks
    • financial transparency
    • fun, entertaining, like a game
  • What will consumers pay for (using micropayments)?
    • Persona development (and control) [Kachingle]
    • Convenience [iTunes]
    • Special Features [Game tool upgrades]
    • Virtual Goods [Facebook flowers]
    • Other?