VIXIMO -- July 14 -- The Virtual Goods industry is growing extremely quickly. Some estimate the size of the industry to reach $5.5 billion globally this year. Virtual goods are sold in four primary arenas; Social Networks, Online Dating Sites, Games and Virtual Worlds. To understand virtual goods we need to understand what drives this value system:
- Virtual goods help users stand out from the crowd - Paying for avatar clothing, hair styles, and other accessories is natural to ensure you establish a visual identity that represents you. Users who distinguish themselves more on dating sites are getting more dates.
- Virtual goods help users express themselves - MySpace allows users to customize their profile pages to express their personal style and interests. This feature is so popular it is widely regarded as one of a few reasons why MySpace was so successful in gaining traction.
- Virtual Goods help users to gain an advantage - Users can purchase a “featured spot” in search results to increase exposure to the site’s audience and thus increase their chances of being noticed by a potential mate.
FULL ARTICLE @ VIXIMO BLOG
This post also appears on SocialNetworkingWatch.
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