New business model = win win win? YOUR FEEDBACK IS NEEDED!!!
Posted: Sat Oct 09, 2021 12:01 am
Actually i didn't want to register for this forum, but i think my idea might be able to take watzatsong a step further.
In addition to making samples premium for money i thought, why not paying people for naming songs?
So here it is:
Lets say you sell WZS-Coins to the users and they can spend those coins on songs they wanna see named.
The more people want a song named, the more coins will be in the pool for that song.
If someone names a song correct, he will get lets say half of the coins from the pool for that song.
So 50% is your profit, 50% is the profit of the user.
And the user can then spent that coins on songs he wanna see named OR (which would be even cooler) could get them payed out as real money, once he reaches a certain amount of coins.
If you think about it, this would be a huge incentive for people to search for songs and name them.
People who don't want to buy or can't afford to buy coins, would be able to get coins by naming songs and if you could even earn real money by naming songs, there would be a lot of people putting real effort into this page.
Watzatsong would win, as they probably would make more profit, users who name a lot of songs would win, as they could earn real money and everyone else would win too, as more songs would be named, cause more people would put effort into it.
Especially for old samples no one is listening to anymore, this could become a new dawn.
Of course it will need some fine-tuning like getting your points back if a song hasn't been named for a month or so after you put some coins on it and things like that.
But all in all i think this could become a bit of a gamechanger for this site.
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For those who will read this topic for the first time, here is another representation:
We want to integrate WZSCoins reward system to motivate more users to search and name songs. For their efforts they will get WZSCoins. Users that want their songs named faster, can offer a reward in WZSCoins. WZSCoins can be purchased with real money.
Let's say 1 WZSCoin = $0.10
WZSCoins can be purchased as packages with Credit cards or Paypal
Here is a simple scenario:
1. User makes a new post and in the process he/she can offer a reward for the person who finds the right song, lets say 10 WZSCoins. If you want that song identified so badly, you can add more coins as a reward at any time. Users can add rewards for old posts as well, not just for the new ones.
2. More people will be motivated to search for the song as they will get rewarded for their efforts
3. Once the song is identified correctly, the person who found the right answer and it gets confirmed by the poster will get 10 WZSCoins
4. When an user collects 1000 WZSCoins = $100, he/she can cash out for real money
5. Watzatsong.com will keep 50%(just putting 50% to explain the idea. It might be less) of the amount and pays the user $50
6. We can allow any user to add to the reward for those songs that have a lot of subscribers - The more people want a song named, the more coins will be in the pool for that song.
Note: All the numbers and % above are mentioned with the only purpose to give an idea how this can work out.
Pros:
1. Motivation - more people will search for songs as they will also get paid for their efforts
2. More traffic as more people will visit the website to try identify songs and make some extra $
3. More recognized songs as more users will be searching
Cons:
1. As you know we have a lot of music enthusiasts and this might be de-motivational for them and make them feel bad - the fact that we actually commercialize their efforts (biggest concern)
2. Will need more moderating resources as more users will try to cheat
3. Not all users have Paypal and will be hard to make pay-outs. Might integrate other methods once we know what users have.
Waiting for feedback from more users
In addition to making samples premium for money i thought, why not paying people for naming songs?
So here it is:
Lets say you sell WZS-Coins to the users and they can spend those coins on songs they wanna see named.
The more people want a song named, the more coins will be in the pool for that song.
If someone names a song correct, he will get lets say half of the coins from the pool for that song.
So 50% is your profit, 50% is the profit of the user.
And the user can then spent that coins on songs he wanna see named OR (which would be even cooler) could get them payed out as real money, once he reaches a certain amount of coins.
If you think about it, this would be a huge incentive for people to search for songs and name them.
People who don't want to buy or can't afford to buy coins, would be able to get coins by naming songs and if you could even earn real money by naming songs, there would be a lot of people putting real effort into this page.
Watzatsong would win, as they probably would make more profit, users who name a lot of songs would win, as they could earn real money and everyone else would win too, as more songs would be named, cause more people would put effort into it.
Especially for old samples no one is listening to anymore, this could become a new dawn.
Of course it will need some fine-tuning like getting your points back if a song hasn't been named for a month or so after you put some coins on it and things like that.
But all in all i think this could become a bit of a gamechanger for this site.
--------------------------------------------------------------------------------------------
For those who will read this topic for the first time, here is another representation:
We want to integrate WZSCoins reward system to motivate more users to search and name songs. For their efforts they will get WZSCoins. Users that want their songs named faster, can offer a reward in WZSCoins. WZSCoins can be purchased with real money.
Let's say 1 WZSCoin = $0.10
WZSCoins can be purchased as packages with Credit cards or Paypal
Here is a simple scenario:
1. User makes a new post and in the process he/she can offer a reward for the person who finds the right song, lets say 10 WZSCoins. If you want that song identified so badly, you can add more coins as a reward at any time. Users can add rewards for old posts as well, not just for the new ones.
2. More people will be motivated to search for the song as they will get rewarded for their efforts
3. Once the song is identified correctly, the person who found the right answer and it gets confirmed by the poster will get 10 WZSCoins
4. When an user collects 1000 WZSCoins = $100, he/she can cash out for real money
5. Watzatsong.com will keep 50%(just putting 50% to explain the idea. It might be less) of the amount and pays the user $50
6. We can allow any user to add to the reward for those songs that have a lot of subscribers - The more people want a song named, the more coins will be in the pool for that song.
Note: All the numbers and % above are mentioned with the only purpose to give an idea how this can work out.
Pros:
1. Motivation - more people will search for songs as they will also get paid for their efforts
2. More traffic as more people will visit the website to try identify songs and make some extra $
3. More recognized songs as more users will be searching
Cons:
1. As you know we have a lot of music enthusiasts and this might be de-motivational for them and make them feel bad - the fact that we actually commercialize their efforts (biggest concern)
2. Will need more moderating resources as more users will try to cheat
3. Not all users have Paypal and will be hard to make pay-outs. Might integrate other methods once we know what users have.
Waiting for feedback from more users