We will not argue about whose banking system is the best in the world. There are different factors to consider for each market so that it is difficult to establish a ranking. (In addition, it would be a boring task.)
But consider the following question. Given the present rate of emergence of new technology and changing models of interaction, how do you think banking will be affected in the years to come?
If you look at banks and financial services in emerging markets, you cannot help but notice the vast number of services provided by banks to their clients that U.S. banks fail to provide. As a customer of several banks in Eastern Europe and an active participant in the fintech community, I can say that many banks in these countries are using technology in order to provide innovative services to their customers.
Continue reading “14 Surprising Services Offered at Banks in Europe”
The price of video content is the most prominent barrier in front of potential customers. For instance, the average price for video courses can range between $300–$1,500. To decide to pay such an amount is not so simple if you are not sure exactly what is inside. This applies even cheaper video games or other videos.
In other words, the buyer is not certain whether the video contains precisely the knowledge or information that is necessary for him, whether he likes the manner of teaching or submitting and the quality level of the product. For the customer, it would be good to get acquainted with the content before buying.
Promo videos often offered by sellers do not give customers a full picture. As a rule, these videos are executed like an advertisement and can contain good quality and encouraging words, but they do not determine the quality or the actual content of the video that the customer is going to buy.
Continue reading “The barrier when selling video”
I would like to share some exciting data on monthly spending based on the https://melt.one insight stats. I hope your personal and corporate funds have not gone into self-driving mode.
According to our statistics, an average American (for private accounts) spends $728 per month on recurring payments. This is without taking into account payments for loans, college or school, or car leasing. LaterI will show the popular categories of costs. If a person is engaged in a small business, then the amount of automatic monthly payments is, on average, $1,700 per month.
Continue reading “The behavior of recurring payments”
One of the most significant privileges of modern life is our freedom of choice. And although this freedom is, in most cases, limited by the norms and rules of our society, which is quite natural, thanks to this opportunity people are making discoveries, creating inventions and achieving goals.
If the thesis of freedom or the right of choice is applied to the topic of this article, it can be noted that in modern markets there are two sides with different goals: sellers and buyers. The goal of the one side is to limit “freedoms” for buyers, and the other side is interested in complete freedom, close to anarchy.
This is especially noticeable in the market for services and sales of goods by subscription. Perhaps this caught my attention because my company provides services for monitoring and managing monthly expenses, and I can argue that the business subscription model is becoming the primary business model for sales and consumption.
Continue reading “Toward a better subscription-based business model.”
For a long time, competition in the market has passed from the technological to the social and cultural plane, and it seems that this is the most awkward stage of development for financial technologies. A decade ago, FinTech solutions brought with them additional value for people, simplifying processes and providing new opportunities for making payments and tracking funds.
What is happening today? Has FinTech entered the zone of minor improvements, or trying to invent new business models? What are the real problems we are seeking to solve today? Of course, we would like to create the most straightforward and easy-to-understand tools for people to interact with each other. Perhaps this is a common goal for all of us, whatever we may be doing, because, in the end, it all comes down to our interactions with each other.
Continue reading “The Next Grade of FinTech”
If you are selling digital products, you probably receive 80–10% royalty. This means, in many cases, the author only receives a small portion per sale. For physical goods, such as paperback books, the picture may be much worse. Although I must say that now, there are services, which pay 90–80% royalty for virtual goods. However, I wonder which model is beneficial to the author. How much money are they willing to pay to sell their works. Of course, the digital products, “always are enough at your warehouse”, and if you have a good distributor providing sales, then it will probably neutralize any commission.
However, we decided to experiment and proposed a new business model — a subscription with a fixed price of $1 for each file sold, monthly.
This means, that until your product is on our platform, you pay $1, monthly. This model is quite unusual, but it raises some questions to the whole ecosystem and the sales process. What have we learned? If an author has content, which attracts buyers, then this model is highly profitable for a seller. For example, if the value of your book is $19, and it sells well, you receive 100% of the royalty, and your monthly cost is only $1.
Continue reading “Which business model is most suitable for the sale of digital goods?”
In my previous post, we discussed the future of digital content distribution. We covered the ways sellers and buyers may be able to find each other in a vast ocean of digital content, which expands more and more each year. This explosive growth of digital content and content creators has to lead to both new opportunities and new questions. We certainly can sell products in millions, but do we know how to handle billions?
It’s clear that we consciously or unconsciously buy because of word of mouth recommendations from friends and coworkers, instead of technological or marketing efforts. But what I find even worse is that there’s a great number of content creators and content we’ve never heard of. You won’t find them on the first page of search engines, local search, or major shopping sites.
Continue reading “The Future of Digital Content Distribution II: Nowadays”
How will buyer-seller relationships unfold in the future? New distribution channels are needed in today’s world, where creating and publishing content is an option for everyone, but selling products remains a challenge. As more up-and-coming content creators appear, the problem becomes more serious.
Simply put, if I like Dave Brubeck, I’ll exclusively search for his music. However, if you are not Brubeck or Rihanna, you’ll struggle to be noticed because nobody’s heard of you, no matter how brilliant you music may be. A presence on Amazon or iTunes isn’t always enough if your buyer doesn’t know you exist.
You can certainly publish content on your blog, but who’s going to buy your book or music there? Your friends and family might, just to cheer you up. If your blog receives tens of thousands of unique visitors a day, that’s another story entirely. But in most cases, it’s just not that simple.
Continue reading “Crowdselling: The Future of Digital Content Distribution?”
Today, there is almost no anonymity online. Many people strive for the opposite, in fact – total publicity as it concerns their professional goals, copyrighted materials, and intellectual property. In our contemporary world with new value systems, it just doesn’t make sense to hide your intellectual property. The very fact of stopping a new idea from implementation doesn’t make sense. Perhaps, it could even be considered a crime in the future. However, we aren’t speaking to the abolition of the copyright or its infringement.
Against the backdrop of the new developments and opportunities in today’s information-centric culture, copyright registration can be an obsolete mean to an ineffective end. In many cases, it’s even a limiting factor for industry development, and oddly enough, infringes on the rights of authors. Our current intellectual property system benefits corporations by complicating the process of protecting the rights of content creators. In an era where opportunities and innovations abound our system is almost a tragic comedy.
Continue reading “Copyright and Intellectual Property: Change is Coming”