Are you a young entrepreneur longing to get paid for your digital services, but confused about the payment models?
If Yes, we are there to help you out.
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In this article, you will find some of the most fruitful payment models for the digital world, which can be used easily. Now, you do not have to worry about payment, you just need to keep your concentration on the services provided by you.
Listed below are few of the payment models in the digital era that makes sense.
- Subscription access method – In this method, the viewer agrees to pay you a certain amount in advance for receiving your services. He/ she is called the subscriber and you will be called the subscription provider. The whole process is called subscribing.
This can be done for a particular time period/ for a particular data limit/ any other option depending on the terms and conditions discussed between the subscription provider and the subscriber.
Editor’s Tip: The payment is made in advance by the subscriber even before you deliver your services. Try to provide the subscribers with the best services so that they are totally satisfied and allow them to pay digitally (Helps in quick payment). This will urge the subscriber to continue its subscription. And you will get the payment once again in advance.
- Campaign results method – The modern marketing team runs a number of a campaign to target the prospective targets. And this, when done online, is called a digital marketing campaign.
In such campaigns, the revenue is based on the percentage of the objective meet by the campaign. Different campaigns have different objectives.
For instance, for few campaign selling products is the objective. In this case, it is easy to calculate your revenue.
On the other hand, for a few campaigns, the objective is to make awareness. In this revenue is calculated according to the number of impressions made.
But as we all know that many of the best campaigns also fail to produce the desired result.
Would you like to go without profit, even after campaigning for a third party? Don’t worry. We have a piece of good news for you. You can go for a flat rate plus the campaign results module.
In the above-mentioned module, there is an agreement between you and the person for whom you are running the campaign. He decides on a particular amount to be paid to you irrespective of the results of the campaign. And when the campaign is over this amount is added to the result of the campaign and is paid to you.
- Per view access Method – This method is used mostly for downloadable documents, videos or clips. These may be protected with a password or Digital Rights Management. But they can also be unprotected ones.
Here the revenue is directly proportional to every single view. Your revenue will multiply with each and every access by the viewers.
- Advertisement modules – When you open a particular site online, an array of advertisement opens up in front of you. These advertisements are of the source of remuneration for the site. There are different modules on which these the cost of these advertisements are calculated.
Few of these are the CPM, CPC, PPC, CTR, CPA. Let us discuss few of them.
CPM stands for “Cost Per Thousand” and the M in this stands for “ Mile”. In this particular method, the cost is calculated according to the number of customers viewing an advertisement. The formula which is used is (CPM= cost/ number of visitors X 1000).
CPC stands for “Cost Per Click”. In this method, the cost is calculated by the number of times the ad is clicked. The cost may vary from GBP 0.10 to GBP 40, according to the item advertised.
CPA stands for “Cost Per Acquisition”. In this method, you need to advertise for your clients on your blog or site. In return they will pay a particular commission to you, It can be a percentage of any price born by you.
In all the above-mentioned methods the add is mostly a text ad. And are many times delivered through a search engine, such as Google Adsense Network, etc. So a portion of the ad cost is paid to them.
- Providing access to email subscribers – The email address of the subscribers is of great value. This is the personal belonging of a company and they can charge a particular amount and open it for you to make use of it.
In this particular method, the company agrees to send your advertisement as a part of their email/newsletter or can even send a separate message on your behalf to its subscribers. In return, you need to pay them a certain amount.
- Paying for a particular section of the site – In this particular method, you can be in a deal with a company. Wherein, the company pays for a particular section/ content of your site.
For instance, if you are a company indulged in insurance. You can look for companies related to health. They will definitely be interested in paying for your sites portions and you can charge them a particular amount per year.
You can also use a combination of two or more methods to calculate revenue. If that brings you a better deal.
The best way is to discuss with your clients and make each and everything clear. Jot it down in an agreement and them proceed. Happy earning!!
Divyanshu Jangid is a Software Analyst at Hyper Drive Solutions. His interests include researching, reading about new technologies. When he’s not working, he enjoys spending time with his family, friends and playing billiards.