How to monetize a tool (8)
Hello,
I'm looking for some ideas on how to monetize a tool that I've developed.
The tool is an educational game in the music learning niche.
People spend about 6 minutes per session on it, and come back each day to use it, mostly on desktop.
Do you have any suggestions on how to make some money from it?
Thanks
Sent from my SM-G950F using STM Forums mobile app
i would suggest you just start by simple smartlinks pops on your tool
this way you can have a first evaluation of your traffic and it's behaviour to offers. this will help you narrow your choices maybe
Plus dont forget to track everything so you know your audience and traffic
How many users do you have now?
How many are active a day? DAU
About 300 users per day, 10.000 registered users
Sent from my SM-G950F using STM Forums mobile app
Hmm...
I always like to think about it as if it was X100...
If you had 1 million registered users and 30,000 daily users how would you monetize it?
Judging from your description, it seems like the most common routes would be:
-Native or banner ads running alongside it/underneath it, almost like nationalweatheragency.org or another site people just visit for a few minutes a day.
-Pre-game or mid-game 30 second video ads like on Mobile games or Youtube videos
-Add a paid component to the game or site where people have to pay 10$ a month (or however much) to unlock the premium version
-(If appropriate) build an email list and send related offers to it
-Partner with or become affiliate for a much larger related company or offer that IS paid, much like Pixabay derives most of its income from running sponsored Shutterstock images next to their own free images, which people then click on and buy (earning Pixabay affiliate income/revshare/however that is set up).
Sounds like a cool setup you've developed!
If you've got engaged users hungry to learn or solve a problem, why not partner up with someone selling a music course or even create your own, something as simple as an short ebook.
Your revenue per user will be many times higher that way than it would be just slapping up some ads.
Is there any chance you could introduce some kind of premium into the game?
Either make it as a freemium model with some additional paid upgrades or have a free trial first and then try to convert them into the paid option.
Hard to tell though without seeing the game itself if these models would work or no.
Then another way would be to promote others products and courses that are related (I know there are plenty of them in the learning musical instrument niche)
The last option would be just add ads as mentioned above (this could be a model too -> introduce ads and offer a paid version without ads)
Jack has give you some great ideas already!
Originally Posted by jack_l
or
Introduce a scoring system for current users and extend the functionalities of your tool involving a 3rd party paid platform. Based on their profile scoring, a few top users will get access for free to the extension, while others will need to pay a small fee to use it.
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