Omega Mobile: Mobile Experience Design Blog
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How can virtual goods turn into cash? Check out this recent article from Fast Company that gives a detailed list of how corporations are turning healthy profit with virtual products. $200 million in virtual goods were purchased in the U.S. last year. Tencent, China’s largest internet portal, made over $1,000,000,000.00 last year. 88% of that billion was from virtual goods.

Virtual Mobile User Experiences

This made me think of ways, other than direct-to-consumer sales, that individuals and corporations can reap financial rewards. 

Interesting when more companies provide a virtual environment and virtual tools as well as a marketplace to sell stuff for financial rewards. Creative users could “co-creating” a product with an established brand or celebrity. Both could profit from the sale. 

For example, focus groups and consumer testing are invaluable for new product development. Instead of costly prototypes and time consuming market research, corporations can roll out brands in a virtual environment like Second Life. If there is anything true about today’s online user, they love to give feedback that can yield precious information from specific target audiences. A great response to new packaging or a concept could even help attract investors while a tepid reaction could save millions by scrapping a dud project early. 

When I think of the young and computer savvy, I can see how virtual experiences can have a direct impact on their future earning power. For example, imagine a fashion crazy teen designing virtual clothes and having online fashion shows for her high school friends. When she applies for design school, she’ll be way ahead of the game and already on her way with experience that includes material choices, budgeting, production and target audience awareness. 

Could the next media mogul use mobile technology and virtual goods to make their millions?

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