Memo Opening
Problem is that it would take You several years to break the cost of buying the Fit-ify! Facebook application using only web-advertizing revenue. “The online advertising has been Facebook’s main revenue source” (Geron). In order to monetize the application and change its revenue model, it is useful to create some advanced features on the application that allow the user to customize his/her page more flexibly, make one’s progress public and appreciate the other users’ progress. You can also sell the user virtual gifts, provide the drug-testing online and send messages to the user if he/she does not weigh for a long time.
Discussion
Combining the web-advertizing revenue model with the fee-for-service model would be more effective for monetizing the Fit-ify! Facebook application. “Monetizing refers to the conversion of existing regular site visitors seeking free information or services into fee-paying subscribers or purchasers of services. Many of the sites that are conducting these monetizing campaigns worry about visitor backlash” (Schneider 304). It means that when offering the services for sale, the administration must be aware of the risk, as it is difficult to be sure whether the visitors will pay for certain services or ignore the offer and waive the application.
An implication of this fact is that the administrator, before launching the fee-for-service model, should carefully research the aimed audience, understand their needs and interests, and then choose the right moment to offer the services. Implementing the elements of the fee-for-service revenue model in Fit-ify! Facebook application means providing the optional opportunities for which the users are to pay, which could be effective on the condition that the interests of the audience are taken into consideration and the right moment is chosen.
The Facebook audience includes representatives of diverse ages and social groups. “On Facebook, older users make up 40%, with college students (29%) being the next biggest group” (Atal). The same is the situation with the users of the Fit-ify! Application, that is why the emphasis should be put on taking advantage in capturing the users’ attention. The application should provide unique options for entertainment and self-expression.
Within the six years since the day of its opening, the purposes of the site changed as well as the audience’s attitude to the process of sharing the information and its privacy. “Schrage concisely summarized a contradiction the site must deal with every day: “Facebook is all about sharing information. At some level, sharing information is antithetical to secrecy. ‘The site bridges that gap by offering control over how you share’” (Pegoraro). Getting accustomed to the options of managing the level of privacy, some users may desire to share their progress, and they are not to be deprived of this.
Besides the implementation of the in-opt policy of sharing the private data in the application, my recommendation is that the elements of the real-time simulation game, resembling the popular Farmville, should be added. “The makers of popular Facebook games FarmVille and Mafia Wars have a new time-waster that has users digging for buried treasure — and the game already has had 7.5 million players after about a week” (Valentino-DeVries).
It means that this kind of user’s time destination could be a significant source of revenue for You. Expanding the theme of the sports competition, the game should provide the opportunities to combine fun with self-expression, such as training the virtual outstanding Olympic champions, choosing the virtually balanced diet for them, the exercises program and participating in the competitions, interacting with the other users.
The three main purposes of present-day social networks are uniting the users into interest groups, sharing information and entertainment. “The Silicon Valley company has focused on tying together people on the Web, mapping out who knows whom.
Now, Facebook wants to map out connections between people and their interests” (Schatz). Researching the user’s audience it should be noted that their behavior in the virtual world resembles that in real life, the people reflect their mobility in their virtual preferences, that is why the designers could provide additional motivation, such as sending the reminding message to the users which did not use the application for a long time. Being motivated by the other users may be useful and that is one of the services which can be purchased. “There is always someone telling you ‘Good job’ or ‘You can do it. Don’t quit — you’re almost there.’ Which is probably why so many people keep talking about it on Facebook” (Webley).
The users are to be provided with certain symbolic prizes for their achievements, such as medals, cups or flowers, which they could purchase for themselves or send to their friends in order to support and encourage them. Trying to make the application fun the message about the positive drug test may be sent to the users if they change their data immensely and unexpectedly by mistake, for example. It is important that the application should meet all the main requirements of the application users, provide a wide range of opportunities for sharing information, expressing one’s emotions and entertainment.
Closing
Making the application fun, controlling the users’ regular weighing and providing the optional opportunities for the encouragement of the other users will help to monetize the Fit-ify! Facebook application. But before the implementation of some of the suggestions, it is necessary to customize the existing options and note the users’ feedback as to the possible faults of the application, such as difficulties of changing the weight and other parameters.
Bibliography
Atal, Maha. Myspace, Facebook: A Tale of Two Cultures. Business Week. 2007. Web.
Geron, Tomio. Giving Credits where Credits Are Due. The Wall Street Journal. 2010. Web.
Pegoraro, Rob. As Facebook privacy settings change, company execs defend the changes. The Washington Post. 2010. Web.
Schatz, Amy. Facebook Execs Defend Changes as D.C. Eyes Privacy Regulations. The Wall Street Journal. 2010. Web.
Schneider, Gary. Electronic Commerce. Cengage Learning. 2008: 655.
Valentino-DeVries, Jennifer. App Watch: FarmVille Creators Go Hunting for Treasure. The Wall Street Journal. 2010. Web.
Webley, Kayla. Running in Marathons: Facebook Made Me Do It. Time. 2010. Web.