SOURCE: Offerpal Media

November 24, 2008 17:33 ET

Offerpal Media Publishes Industry Report on Monetizing Social Traffic Through Virtual Currency

'Top 20' Report Draws From Successful Case Studies to Highlight Best Practices for Generating Revenue Using Virtual Goods and Services

FREMONT, CA--(Marketwire - November 24, 2008) - Offerpal Media, the leading monetization platform for social networks, social applications, virtual worlds and other forms of community-oriented web properties, today released an industry-first report showcasing strategies and best practices for monetizing social traffic using virtual currency. The company provided a sneak preview of the report at the Facebook Developer Garage in San Francisco, an event focused on generating revenues through social networking applications. The complete report is available for free at http://offerpalmedia.com/whitepaper.php

Demand for virtual goods and services has grown exponentially of late, creating a highly lucrative market opportunity for publishers of social web properties such as social networks, applications, social games, virtual worlds and others. These publishers have found it very difficult to monetize their traffic through traditional forms of online advertising, but virtual goods and services offer them a way to generate significant revenues while simultaneously engaging and motivating their user bases.

Until now, however, there has been little education to help social web publishers understand how to achieve viral and financial success through this burgeoning channel.

"Our goal is to help social web publishers turn their properties into thriving businesses. The 'Top 20' report is the essential guide for both established players and newcomers in this growing industry who wish to monetize their traffic using virtual currency," said Anu Shukla, founder and CEO of Offerpal Media. "The most successful social publishers are those that have integrated virtual currency or goods into the overall user experience, and this report offers key insights on how to do that successfully."

The report contains 20 tried and tested techniques for monetizing social traffic using virtual goods and virtual currency, with real-world examples from popular properties including WeeWorld, Make a Baby, Friends For Sale!, (Lil) Green Patch, Mobsters and others.

Tips one through five include:

1. Build virtual currency into your site or application from the ground up
2. Understand your users' motivations
3. Create multiple methods for users to earn virtual currency
4. Sell decorative virtual goods
5. Enable virtual gifting

With its clear, step-by-step approach to creating virtual economies and converting virtual currency into real dollars, the 'Top 20' report is expected to help boost the revenues for a large number of social web publishers.

About Offerpal Media

Offerpal Media is the first "Managed Offer Platform" for social applications, online communities and e-commerce sites. The company's turnkey platform allows social web publishers to monetize their traffic through uniquely engineered advertising offers. Meanwhile, advertisers can tap into Offerpal Media's expansive network to reach more than 50 million highly engaged and targeted consumers on social web sites. The platform also helps online merchants generate incremental revenue by using ad offers as an alternate payment method. Based in Fremont, CA, and backed by top-tier venture capital firms, Offerpal Media features an experienced management team with deep roots in online advertising, personalization, and optimization technologies. For more information, visit www.offerpalmedia.com

Contact Information

  • Contact Information
    Jason Throckmorton or Rachel Levine
    LaunchSquad
    415.625.8555
    Offerpal(at)launchsquad(dot)com