Last week we discussed how casual game developers can boost sales with offer completions, and this week we’re taking a look at another important component of virtual currency monetization platforms: direct payment options. Direct payments such as credit cards, PayPal and mobile SMS payments are a major part of virtual currency monetization. And there are a few ways you can optimize your direct payments in order to increase payment conversions. Here’s a look at the top five ways:
1. Offer a variety of payment options
Just like any online retailer, causal game developers must offer a wide selection of payment options. Credit cards have long been the primary tender type for online transactions, but millions of shoppers are putting away the plastic in favor of more secure, convenient or affordable alternative payment options. It’s important to incorporate several credit card choices as well a few alternative payment methods, such as PayPal and mobile SMS payments.
2. Deeply integrate payment options
As we discussed in our last post, offer completions aren’t just limited to your payments page—and neither are direct payments. Many monetization platforms can deeply integrate direct payment options throughout your game to make them a part of your in-game mechanics, which can significantly increase payment conversions. Present payment options in high traffic areas with high user engagement to maximize your results.
3. Customize your iframe
Stand-alone games and those hosted on social networking sites like Facebook or MySpace each require different visuals when it comes to monetization platforms. The same iframe won’t work for every game developer. But tailoring the payment platform specifically for your game can make your direct payment options stand out, which can help increase conversion rates. Select a monetization platform that can customize your iframe skin according to what your game looks like and where your game is hosted.
4. Set different exchange rates
Many casual games have a set exchange rate for their virtual currency, but those who set varying rates for different pricepoints can see a dramatic increase in sales and average order values. By offering more generous exchange rates for higher pricepoints, you can encourage your users to spend more per transaction. For example, if you generally sell 50 coins for $1, and 250 coins for $5, offering 2,500 coins at a special rate of $25 could significantly boost your average order values.
5. Use multiple placements
Maximize your direct payment conversions by using multiple placements throughout your payment pages. Once a user clicks from your payment page over to your offer page there is no guarantee that he or she will complete the transaction. That’s why it’s important to display direct payments on every relevant page. Presenting direct payment options as an escape hatch on your offer page will increase your direct payment conversions while saving sales that otherwise might have been abandoned.
