Building A Virtual Economy
Upcoming SlideShare
Loading in...5
×
 

Building A Virtual Economy

on

  • 4,318 views

Presentation by Anu Shukla at the MySpace devJam on February 5th, 2009

Presentation by Anu Shukla at the MySpace devJam on February 5th, 2009

Statistics

Views

Total Views
4,318
Views on SlideShare
4,076
Embed Views
242

Actions

Likes
8
Downloads
110
Comments
0

5 Embeds 242

http://myofferpal.wordpress.com 221
http://blog.tapjoy.com 10
http://www.slideshare.net 9
http://192.168.1.108 1
http://www.slideee.com 1

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Building A Virtual Economy Building A Virtual Economy Presentation Transcript

  • Slide title goes here… MySpace devJam Anu Shukla Founder & CEO, Offerpal Media, Inc. Offerpal Media Inc. Confidential
  • Agenda I. Workshop: Building a Virtual Economy II. Panel Discussion: Best Practices for Virtual Currency  Monetization III. Apps Review: Real World Apps Critiqued  IV. Updates: What’s New with the MySpace Platform? V. Networking: Open Bar 
  • Offerpal Background  The first social advertising platform: launched October 2007 • 800+ publishers across multiple platforms • 2,000+ advertising offers in 54 countries  • 2.5+ million offers conducted every month • Platforms Applications Games Worlds
  • Offerpal Payouts Network‐wide eCPM: $150 – 200  • Average publisher payout: $75/day/1,000 users • Conversion rate: >5% (40x better than traditional CPA) • Revenues per completion: >$5.00  • >$150 eCPM $400 Card Games $225 MMORPGs Tamagotchi Games  $200 <$1 eCPM Racing $175 <10¢ eCPM $150 Owning Monetization  Pets for  Virtual  $100 Category Currency and  Digital  Monetization CPM  Green $75 CPC Adsense Products Banners User eCPM Engagement
  • Building a Virtual Economy: A Step-by-Step Guide
  • Step 1: Define Your Currency   Give it a name:  “Wishes” • “Baby Bucks” • “WeePoints” • “Favor Points” • “Moola” • “Chips” • “Munny” • “Green Bucks” • “Rewards” • “Coins” • “Vouchers” • “Tokens” • “Boosts” • “Jewels” • “Credits” • “Treats” •
  • Step 2: Define Your “Sources”  Let users earn  currency by: Logging in • Inviting friends • Completing tasks • Completing offers •
  • Step 3: Define Your “Sinks”  Let users redeem  currency by  purchasing: • Decorative Goods • Virtual Gifts • Functional  Goods/Services
  • Step 3: Define Your “Sinks”  Decorative goods: • Geared toward self‐ expression • Virtual clothes,  accessories,  backgrounds, toys, etc. • Prevalent in virtual  worlds and social  communities
  • Step 3: Define Your “Sinks”  Virtual Gifts: • A form of social expression • Leads to reciprocity and viral  growth • Popular on social networks,  especially “social utility” apps
  • Step 3: Define Your “Sinks”  Functional Goods:  • Meaningfully alters the  user experience • Virtual weapons,  protection, more turns,  more time, etc. • Found mostly in  MMOGs, RPGs and  other social games
  • Step 4: Onboard With Offerpal On‐board in  4 Simple Steps: 1. Sign up 2. Add new app 3. Configure & test 4. Go live (Total time: 10 – 15 min.)
  • Step 4: Onboard With Offerpal On‐board in  4 Simple Steps: 1. Sign up 2. Add new app 3. Configure & test 4. Go live
  • Step 4: Onboard With Offerpal On‐board in  4 Simple Steps: 1. Sign up 2. Add new app 3. Configure & test 4. Go live
  • Step 4: Onboard With Offerpal On‐board in  4 Simple Steps: 1. Sign up 2. Add new app 3. Configure & test 4. Go live
  • Step 5: Integrate Currency Into User Experience • Build currency into the  game mechanics of your app • Place currency where it  makes sense contextually
  • Step 6: Make it Easy to Find Promotion =  Monetization • Add a tab to “Earn  Currency” • Include balance in  a status bar • Use newsfeeds,  notifications and  other messaging  opportunities
  • Step 7: Use Ad Inventory Promotion =  Monetization • Use banners, prestitials,  reg‐path offers or other  forms of display ads • Currency‐driven  banners generate 10x  click‐through rates of  non‐incentivized  banners
  • Step 8: Introduce New Goods/Services Keep your economy  fresh:  • Add new virtual  goods/services regularly – monthly if not weekly • Come up with innovative  new goods/services • Think like a traditional  merchant and  “merchandise” your  products for easy  browsing
  • Step 9: Maintain a Balanced Economy Tips for a healthy economy:  • Don’t issue too much currency • Balance sources and sinks • Keep an eye out for “gold farming”  and fraud • Adjust the exchange rate • Manage inflation  • Monitor trades or exchanges, if  allowed
  • Step 10: Optimize, Optimize, Optimize Publishers should measure, test and analyze:  • What are your most popular “sources” and “sinks”? • Which audience segments are most  active in your virtual economy? • Which promotions are most  effective? • At what levels are users most  engaged in your virtual economy? • When are users most likely to  complete ad offers? • Etc. 
  • Step 10: Optimize, Optimize, Optimize Offerpal maximizes revenues on your behalf … Measurable success metrics include:  Our platform engine automatically  maximizes performance based on:  • Revenues • eCPM Profile data • • Click-Through Rates • Take Rates Behavioral targeting  • • Exchange Rates Proprietary algorithms • • Conversions • Revenue/Click • Revenue/Completion Our integrated testing framework allows  Revenue Per UI us to conduct: 400 • A/B split testing R 300 e • Exchange rate testing v 200 e • User interface testing n 100 • Offer rotation testing  u e 0 Old UI New UI: Most  New UI: All  Popular Offers Offers
  • What’s Next: Mobile Applications  iPhone Integration:  Social websites MMOGs Digital merchants… • First advertising platform  on the iPhone • Reaches 10+ million iPhone  users  • More than 15,000  applications already on the  iPhone platform  • Free‐to‐play, ad‐supported  apps are most popular
  • Questions?