Thursday, October 25, 2012
Computers are an indispensable part of today’s world. They are found almost everywhere and are responsible for amazing increases in productivity and efficiency. The extent that we rely on our computers is usually only apparent when they malfunction. Then, just like when we wake up in the morning feeling sick, and long to feel good like when we are healthy, do we realize how dependent we are on these technological marvels. However, what would a computer be without software?
Why do you think that Microsoft, SAP, and Oracle rank as some of the largest companies in the world? It’s called software. Software is a highly lucrative business. Why? Because once the software is created, it can be replicated almost infinitely at very little additional cost. For software multinationals with the financial clout to design new software, the marketing of their new product is handled by their marketing departments. However, for individual or small teams of software developers, whose expertise is usually limited to creating software and not marketing, getting their product recognized and accepted in the market is a huge task. And, who’s kidding who, what use is it creating the world’s next must have program, if you can’t sell it? This is where software monetization comes into play.
Software monetization is the task of making money from your software and it invariably involves the appropriate marketing of your software. As a small fish in an ocean of sharks, you have to nimble and smart to get ahead and make your product stand out. This can be achieved in many different ways.
Perhaps this is not what Isaac Newton intended when penning the famous quote, “If I have seen further it is by standing on the shoulder of giants,” however, by bundling your software with a better known piece of software, you can use their already established market to gain quicker and greater market penetration than attempting to go it alone.
Whether as a standalone operation or in conjunction with bundling, you can divide your software into different versions with different features and price points. This enables buyers or potential buyers to get a feel for your product offering before fully committing. Similarly, you can integrate a dynamic installer into your software to facilitate quicker and more stable downloads as well as accessing revenues from Tier 1 advertisers.
All these software monetization options will cost you money in revenue share but will save you money in the short and medium term in marketing costs and should provide quicker market penetration than what you could’ve achieved on your own.
Author bio: This article was written by software marketing experts at Somoto.
Posted by Nico Westerdale at 9:46 AM