In the virtual economy, content continues to be king. Users purchase virtual goods for purely social and expressive reasons, so the quality of those goods has a profound effect on perceived value. Publishers selling virtual goods can sell more and fetch higher prices by providing their users with merchandise that is interactive, expressive, and tailored to the social dynamics of their sites.
Cambridge, MA (PRWEB) July 29, 2009
Viximo Inc. has released data from a forthcoming study, exemplifying the effects content has on virtual goods revenue. Sales and purchase conversion data were compared between highly ranked goods, finding that five star virtual gift content drove 3.7 times the amount of revenue as three star content. Virtual gifts were ranked using criteria such as production value, subject relevancy, and interactivity on a 1 - 5 star scale. Three star gifts, being the average, represented a quality similar to Facebook virtual gifts.
Ravi Mehta, VP Products, concludes, "In the virtual economy, content continues to be king. Users purchase virtual goods for purely social and expressive reasons, so the quality of those goods has a profound effect on perceived value. Publishers selling virtual goods can sell more and fetch higher prices by providing their users with merchandise that is interactive, expressive, and tailored to the social dynamics of their sites."
Viximo provides publishers access to a massive inventory of premium and branded virtual goods content through its Content Marketplace. To target and optimize sales for their publishers, Viximo recently released enhanced analytics as part of their Content Marketplace and Virtual Currency solutions. Viximo is still the only virtual goods solution that provides every aspect of a virtual economy, including content, virtual currency, and analytics.
Mehta says, "Implementing a micropayment or virtual currency system is just one part of building a viable virtual economy. Unless a site has great content, and the analytics needed to effectively merchandise that content, that site's revenue will fall far short of its potential." Social networks, dating sites and casual games need a broad array of merchandise and require newly replenished inventory on an ongoing basis to be successful.
Companies that offer analytics, but don't provide the content that drives successful metrics, leave major holes for publishers . Viximo helps publishers find areas to improve revenue, but also, gives publishers the tools and assets to quickly make those improvements. Data for the study was gathered across Viximo's network of publishers. You can receive the full study when it is released by emailing Viximo.
Viximo provides Virtual Economy Solutions driven by unlimited, targeted, and premium content for consumers on social networks, online dating sites, and casual games. Coupled with their suite of analytics, currency, and payments providers, Viximo can have your virtual economy up and running in less than a week, and Viximo will work with you over time to maximize the revenue and customer engagement generated by that economy. Viximo can be found at http://viximo.com and you can access additional virtual goods strategy information at http://blog.viximo.com/corporate.
Brian Balfour, Founder and VP Product Marketing