Contributions open up a new revenue stream and they do not endanger existing revenue streams. Users can contribute if they want to, but they don‘t have to. While contributions are a great way to generate user revenue, asking for contributions can also actually drive users towards other models, such as subscriptions. But if you intend to ask your audience to make a voluntary payment, you have to make it as frictionless as possible.
- Over the past 12 months, we have seen that contributions are a great way to generate user revenue.
- But users shouldn’t have to spend more time registering and making a contribution than time spent on reading the article.
- The LaterPay Contributions Button is a user-friendly way to solicit and accept financial support from your readers.
- Content providers can solicit revenue in two ways — either creating a button that asks for a specific contribution, or generating a larger menu that allows readers to choose from a selection of amounts, or even put in a custom value.
- Contributions drive user engagement – users who are engaged in any form of transaction are likely to try other offered transactions and models.
- Based on network-wide data from publishers using Laterpay, we expect about 16% of paying readers will convert into subscribers over time.