Could MicroPayments Create A New Revenue Stream For You?

A micropayment is a financial transaction involving a very small sum of money. PayPal defines a micropayment as a transaction of less than 12 USD. Much of this you see online. For example you can buy content to enhance your console games. In itunes you buy one song or a tv show episode. Many consumers don't really think much of spending 2 or 3 bucks on an item. Many websites have premium or members only content for monthly micropayment. This is not only online but off line as well. The "Dollar Store" has become big business. Recently I have seen this spread into the grocery stores with the mini cup of ice cream for only a dollar. You might even make a quick sales because the transaction is small enough it doesn't need budget approval.

So let's think for a moment. What micropayments can you add to your business? Hopefully your salesman take great notes on objections, especially when it comes to price. This will make the brainstorming of ideas much easier. (if they don't see Telenotes for some help with that) Write these objections on the board. Are there some that indicate the prospect needed a few but not all the features? Is an opportunity to create a lite version. Later on the salesman could present other features for a little more a month. (Much like the cable companies do.) Or what about offering a subscription model instead of the one time payment. World of WarCraft 9.99 a month multiplied by how many users...That's a lot of money. Can you offer some silly extras like the apparel offered for your XBOX avatar? Could you take a half gallon ice cream selling for $4.99 and package it into 10 6oz. cups selling for $1 each.

Each of your opportunities is unique and profitable.

Fred Abaroa
The Marketing Imagineer
Fred [@] TMIFred.com
@TMIFred