Rex Fisher, vice president of business development for Digonex Technologies, recently wrote a contributed article for Virtual Goods Insider, which was published on Dec. 3.
In the article, Rex discusses the recent explosion of the virtual goods industry and how dynamic pricing models will be a key driver of the industry’s continued growth and success. Virtual goods are objects that exist solely online, such as digital gifts; virtual swords, currency or clothing for online games; and applications like Mob Wars and virtual greeting cards for social networks. Virtual goods are purchased and exchanged on the Internet and have no real physical value.
The virtual goods industry has exploded in the past two years. Some industry analysts predict the market will top $1 billion in 2009 in the U.S. alone, and nearly $7 billion in China. As the industry continues to evolve and expand, it will be important for companies to develop sound pricing strategies including the adoption of dynamic pricing tools in order to maximize revenue opportunities and ensure long-term success.
Dynamic pricing solutions, such as Digonex’s Digital Online Exchange (DOE) platform, can help organizations including makers of casual multiplayer online games and virtual world developers, adjust prices up or down based upon consumer demand, which enables companies and social game developers to offer prices that are market-driven. Dynamic pricing tools provide a powerful alternative for virtual goods companies seeking a solution to effectively monetize products and maximize profits.
To read the contributed article entitled, ’Show Me the Money: Maximizing Virtual Goods through Dynamic Pricing, click here. You can also visit www.digonex.com to learn more about dynamic pricing and how this pricing structure can positively impact both retailers and consumers.