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Kachingle presentation at Social Bar Meeting Berlin June 1, 2010
 

Kachingle presentation at Social Bar Meeting Berlin June 1, 2010

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    Kachingle presentation at Social Bar Meeting Berlin June 1, 2010 Kachingle presentation at Social Bar Meeting Berlin June 1, 2010 Presentation Transcript

    • The Social Payment Platform for Online Content & Services in the World of “FREE”Social Bar, BerlinJune 1, 2010
      Cynthia Typaldos, Founder
      9/22/09 9:43pm PST
    • What will it take for Social Payments to succeed?
      user-centric
      no “mental transaction costs”
      tap into existing social networks
      financial transparency
      fun, entertaining, like a game
      These are Kachingle’s Guiding Principles!
    • Why would People Pay for FREE content?
      To build an online persona, achieve recognition, gain status …
      …. and to support a “voice”
    • What is Kachingle?
      Kachingle
      Subscriptions
      Micropayments
      Tipping
    • The Consumer Side of Kachingling
      Via the medallion, sign up for a Kachingle account and commit to a $5/month withdrawal from a Paypal account
      Whenever you encounter a Kachingle-enabled site, that you like and want to support, mouse over the Kachingle medallion and just click “Kachingle this website”, once
      At the end of each month, your contribution is shared among all sites that you “kachingled” during the period based on number of daily-visits to each kachingled site
    • Site Owners just add a Kachingle medallion to their site
    • The Kachingle Medallion
      After
      Before
      … when one decides to kachingle a site
    • Social Media Integration
      Push status updates through microblogging sites
      (e.g. Twitter and Facebook status integration)
      Additional Planned social media applications:
      Facebook app for comparing your contributions to friends and expressing your values
      iPhone app:
      Live access to statistics
      Compare your behavior to others
    • Vielen Dank!
      Thank You!
    • March 17th, 2010: Kachingle makes first “social cents” payments
      Carta:
      Now at 201.48
      “My blog earned $65.08 via crowdfunding!” – Steve Outing
      Now at $136.03
    • Kachingle, business model of choice for the world of “FREE”
      Tipping
      Kachingling (crowdfunding)
      • Decide each time
      • At a price explicitly set by user
      • No financial limits
      • Co-exists with advertising
      • Enables viral & social behaviors
      • 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
      consumer/ user
      Micropayments
      Subscriptions
      Whosevalue system is applied?
      • Decide each time
      • At price set by producer
      • No financial limits
      • Encourages copycat sites (e.g. music biz)
      • Creates barriers for viral & social behaviors
      • Decide once (for each subscription)
      • At price set by producer
      • No financial limits
      • Encourages copycat sites (e.g. music biz)
      • Creates barriers for viral & social behaviors
      producer
      difficult
      effortless
      Ease of use (reduction in “mental transaction costs”)
    • Problem to Solve
      For most news/content sites, advertising-based business models are not enough to pay the bills.
    • Paywalls and moving content to iPhone, Kindle or iPad are just plugging holes in the dike…
    • COMPLETE Financial Transparency
      Necessary Counterpart to Altruism to build Trust
      Every operation is recorded and can be tracked down
      Consumer’s Payment page shows sites that received part of the $5 contribution
      Sites see the same page and know how much money they are supposed to get
    • We now live in the world of “FREE”!
      Anything that can be digitized will be “napsterized”
      Newspapers
      Magazines
      Books
      Music
      Photos, Images, Art
      Video, TV, Movies
      $, €, ¥
      Before
      FREE!
      Now
    • More choices sound great BUT…
      “Why more is less”
      — Barry Schwartz
      http://www.shirky.com/writings/fame_vs_fortune.html
    • Micropayments sound great 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”
      — Clay Shirky
      http://www.shirky.com/writings/fame_vs_fortune.html
    • Users want to make their own decisions BUT…
      Experiment with musician in subway station
      — Robert Cialdini
      http://www.shirky.com/writings/fame_vs_fortune.html
    • Users may not trust a new service, a 3rd party in between BUT…
      “...if they knew for sure there money was absolutely, positively going where they want it to, that would make a difference”
      — Cynthia
      http://www.shirky.com/writings/fame_vs_fortune.html
    • Users don’t want work BUT…
      They want to have fun!
      — Bunny the K9 Kachingler