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Revenue models that work and monetization tips for entrepreneurs
Conduit has exploded over the last few years and now supports over 200,000 publishers and more than 60 million active users. But that's not the interesting part. What's fascinating is that they are effectively monetizing their user base and generating significant revenues. I sat down with Adam Boyden, President of Conduit, to elicit his secrets to monetization.
Conduit's business is based on making it very easy for online publishers to build better connections with their end users. Their partnership with Google lets them leverage the proven search monetization model effectively. While they are generating significant revenues through search monetization, Conduit's model is evolving into a marketplace called "Conduit Open" where their 200,000 publishers can gain syndicated distribution of their content and services through other publishers in the network.
Where's the money?
Search, affiliate marketing and e-commerce continue to be dependable revenue streams.
What's exciting is the emerging mobile based economy where people are paying for services and the emerging model of virtual currency that generates price discrimination while generating community.
Adam cautions around subscription models for long tail or mass market ventures since subscribers have higher expectations that drive higher cost structures. But subscription models can work very well in specific segments of the market depending on the value being delivered.
What should entrepreneurs keep in mind as they build their revenue models?
1. Always focus on building the largest community for the market segment you are pursuing
2. Don't reinvent the wheel. Leverage what others have already done successfully. For example, with Conduit we have been fortunate in having a partnership with Google who has already solved the problem of search monetization. This helps avoid the need to build costly infrastructures or pursue unknown endeavors.
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Conduit: Function -noun,
Pronunciation \ kän- dü-et \
- A channel through which something is conveyed.
- A means of transmitting or distributing (a conduit of information).
Conduit provides website syndication solutions for web publishers that increase traffic, revenue and brand loyalty while simplifying access to the content, communities and applications that subscribers care about most. By creating a direct, always-on connection between publishers and subscribers, Conduit opens new channels for real-time communication and commerce. More than 140,000 publishers have joined the Conduit network worldwide, including major brands such as Fox News, Lufthansa, Major League Baseball, Greenpeace, TechCrunch, Softonic and small and medium organizations in 180 countries around the globe. Web publishers who become part of the Conduit network have the opportunity to syndicate their website content and applications directly to the browser by allowing subscribers to add them as simply as adding an RSS feed.
The Conduit community toolbar helps Web publishers drive online revenue and build stronger relationships with their customers by giving them direct access to the content and applications they want, when they want them, directly from their browser. As the first and only fully customizable, branded toolbar available 100% on-demand, the Conduit community toolbar offers a greater variety of features and more sophisticated communication and syndication capabilities than custom-programming without the high cost and headaches of software development projects that lie outside a Web publisher’s core business.
Build a community toolbar today! www.conduit.com/toolbar/
The company is privately-held with headquarters in Israel and Redwood Shores, CA. For more information about Conduit, visit www.conduit.com or email firstname.lastname@example.org.
Joined Vator onReena Jadhav is a 4 time entrepreneur (Done.com, Conduit, JobFlash, Riiwards), now working on HealerPedia.com, start-up Advisor, and Investor with Valley incubators. Harvard MBA, Summa Cum Laude Wharton Business School.