Ask HN: Next Step for Monetizing our Site
http://www.ecalc.com
We have a great online scientific calculator called eCalc (been around for about 1 year). We have a steady amount of users each day (around 10k) and recently released a new version of the calculator with a downloadable version for Windows and Mac ($15).
However, the conversion of the download product is very low and most people are not downloading the product from our site at all, instead they just use the free online version (but who wouldn't right?)
We'd like to make a monetization model from this product.
1.) Should we handicap the online version with a nag screen to encourage downloads?
2.) Should we try to sell ads on the site(note: average user is on page for 5-6minutes)
3.) Should we create a subscription model for say ($10 a year to use the calculator).
4.) Lower the price of the product to say $5
5.) Add more features (graphing, variables, sharing)
Any advice is much apprehiated...
10K a day sure, but what's the breakdown? Do you have 2K that visit the site 5 times a day, every day? That lends itself well to the subscription model. Are most of your visitors in and outs from google, with no recurring vistis? Ads might be the better option here. Are most of your visits coming from .edu domains? There may be an opportunity for school sponsorship here. Etc, etc.
You need to fit your monetization model to your particular user base.
Buy the desktop version, get unlimited access to the web version.
Put an identifier cookie on their machine and display the number of calculations performed over all time along with a link to the purchase. You know, guilt.
Maybe have a few of the more esoteric but ridiculously useful functions disabled and only enabled either in the pro or just by viewing a nag screen - click sin and get a popup (the first time this session only) that says "We're glad you like this, hey there's a free version). Only nag them a very small percentage of the time, but every now and then nudge them a bit.
To see which wording of "BuyNow" or "free trail" etc works best you should do some A/B testing using something like Google Web Optimizer. Hopefully it will speed up the process of finding the correct wording/strategy/layout.
Graphing is one option, but you'll need to think of more. There's also the problem of people paying, downloading, and then giving it away to others. Do you not worry about this? Or do you somehow "lock" the download to that user. Be very, very careful about preventing someone for using something they paid for. If their machine breaks and they get a new one, with the program still work? How can they move it?
And so on.
The real point is that people will only pay if they get something in return. Think carefully about what that might be.
I'm sure there are many students in poor countries that enjoy having a nice powerful online calculator that is easy to use, but nice is not a good business model.
We don't have a good way to prevent pirating and my thinking was that even top products like Adobe get cracked pretty quickly and distributed (so I figured it was a lost cause...)
Anyway, we have plenty of great ideas for additional features that we can add into the palette. Maybe we make a "pro version" that has these extras...
Is this really an advantage? I'd want to confirm with potential users that they are concerned with color schemes (as I know I'd never pay for color) and having it in a borderless window as opposed to an additional tab in an already open FireFox.
You really need to define the additional advantage of the pay vs non-pay version. What is the screaming need in your users lives that paying $15 is going to solve?
- Contact a company and ask if they want to sponsor a contest. The first 5 users to complete some math problems will earn whatever the company is offering (essentially that's an advertising campaign for the company);
- Run a contest between your users. They pay 5 bucks to enter, and the winner gets the money (after your share ;). A tournament perhaps?;
And kill your downloadable product - it serves no purpose business-wise except to tempt you to take steps that will reduce your traffic and by extension your ad revenues.
I'm thinking that the word "calculator" may be too generic for adsense and so we are SOL in seeing that as a revenue stream...
Edit: I should also add, the iPhone/mobile apps would likely far outstrip the sales of the $15 download, because people are used to buying iPhone apps, and Apple has made it much easier than buying from you. I would even suggest reversing the flow, so to speak, and talk about how iPhone users can find a free version online from their home or work computers whenever they want.
How does the calculator handle something like solving a matrix of complex numbers. I had to do that a lot in linear circuit analysis and would have loved a better tool to do it with.
Does the desktop version do all the math functions of the web/free version? Most EE types aren't too into closing sidebars or color schemes. I guess if I was a student and there was some sort of teaser, like a way to ease the pain of linear circuit analysis, I'd probably buy.
I wonder what other stuff you could add to mess with competing iPhone apps. I'm a Luddite Blackberry owner, so I don't know quite what's out there.