Last week, our CRO and co-founder Janis moderated an insightful panel at the Social Gaming Summit in Berlin on monitoring the health of virtual economies. The panel comprised representatives from social games publisher Wooga, offer-based monetization provider Deal United and affiliate tool Gatewoo as well as analytics platforms HoneyTracks and GamesAnalytics. The discussion – one that met with keen interest from the audience – identified the following best practices for optimal virtual economy health:
1. Determine the right KPIs.
Note: The panelists’ suggestions are included in the slide show below.
2. Set up a robust KPI tracking infrastructure.
3. Set up an A/B testing interface to measure the effects of different features on certain KPIs.
4. Constantly work towards improving the health of the virtual economy.
5. Find the proper balance between user growth, retention and monetization.
More detailed information is also available in the “Inside Virtual Goods: Profiling the Social Gaming Middle Market 2011” report from Inside Network.
While there is no silver bullet, a consistent and iterative approach towards improving virtual economy health can certainly help publishers reap rich rewards.
Measuring the Health of Your Virtual Economy