5403 posts The Dude Abides
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CodingJack says

Maybe you should look for a way to boost sales on the best selling products. There is a reason why the top releases are front page on itunes and top selling products are on end caps and eye level in stores. It is easier to sell something that is already selling well than try to sell something no one wants. Maybe more energy should be put into selling popular items.

I agree with your idea, but only partially. Top authors don’t start at the top. So you have to give new authors a chance to climb the ladder, or else less people will bother to beome new authors. And what makes the marketplaces great is the huge variety of talented authors.

But.. I agree that showcasing top selling files is a smart business strategy. And it would probably make sense to replace the homepage featured files with the previous week’s top sellers. Because having featured files on the homepage is nice for showing off the great talent we have here, but the files that get showcased aren’t always big sellers. Case in point, I’ve had 2 files featured, and they were two of my least selling files. They were also two examples of my best work, so I was proud to have them featured, but probably would have benefited more had one of my better selling files been featured instead. And the same goes for customers. They’re here to buy. If they want to see something really unique but not necessarily practical for their project, that’s what the FWA is for. This also motivates authors to make a top seller even more, because if you do, the reward suddenly becomes huge.

For us here in the forums, showcasing top sellers on the homepage might sound lame. But very few of us represent the average buyer. And my guess is that buyers who’ve figured out how to find the top sellers page get in the habit of checking it out on a regular basis. So why make buyer’s bookmark the page or find a small link to get there? One extra click might not seem like a big deal, but in the business of web conversions it’s huge.

As a disclaimer, I don’t think I currently have any files on the popular files page.

614 posts Keeping the Groove Alive
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guitarsstate says

Hi Josh, just brainstorming out loud here, maybe in the future, authors could have a similar option in their profiles, just like the featured item, but where one item from the portfolio is chosen to be displayed as a special offer. This item would automatically go for half the price (or any lower percentage). While running the risk of polluting the author profile with an additional box, you could remove the featured item box, or even have the option where the author chooses which box to have showcased. Anyway, just a quick on-topic thought. Cheers.

+1 That’s an interesting idea. Anyway, the Bargain Basement will be missed by some, including me :)

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AudioMonks says

Its good idea to let the autor pick one of his items and put it in a “good price” or something like “1 week sale”.

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AudioMonks says


Honestly Tim McMorris and Soundroll should be all over the frontpage because they have great product that customers obviously want.

Use their sought after products as leverage to help everyone get exposure. A buyer comes to the MP to get the latest item by XXX , but (is forced to acknowledge) other “interesting items” (by little guys) along their way to their target. This is what makes little guys go big. Use the big guys as attraction, but push the little guys once you have the users attention.

Putting the big guys up front is what makes the “middle man” the most money. The middle man really don’t care who or what is selling, as long as profit is churning. Meanwhile, the little guys are discouraged because they big guys get all the exposure, so the little guys says F-it. So then the middle man is left banking on the big guys alone. As soon as the big guys “coolness” is gone, everyone is broke trying to come up the next best scam/marketing ploy.

If the middle man balances, or slightly favors the little guy, the little guys get big, and the big guys stay big. There is no “oh shit what happened” when the big guys “coolness” wears off because as they are phasing out, the little guys have picked up the slack and turned big. Thus the life cycle continues – healthily.

The only exception to this is when a little guy “gets lucky” and has a product that launches them to stardom.

Its a bridge between microeconomics and macroeconomics.

CodeFusion for president!! :)

5403 posts The Dude Abides
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CodingJack says

Its good idea to let the autor pick one of his items and put it in a “good price” or something like “1 week sale”.

-1

This is a nice idea in theory, but one of the great things about Envato is it doesn’t allow authors to undercut each other, and there are lots of other stock marketplaces that are terrible because they allow this sort of thing.

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VF says

To all the new ideas related to discount:

Too much of research going on towards devaluing the files, kudos. The “micro-stock” prices are already near to “none”. Personally I see even $40 is really nothing considering the amount of work done and sales trends.

“none”/2 = @#&*

May be we need a new definition if discounts are much needed : nano-stock :D

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AudioMonks says


Its good idea to let the autor pick one of his items and put it in a “good price” or something like “1 week sale”.

-1

This is a nice idea in theory, but one of the great things about Envato is it doesn’t allow authors to undercut each other, and there are lots of other stock marketplaces that are terrible because they allow this sort of thing.

I didn’t ment to allow users to undercut each other (thats terrible idea), the author himself can choose file from his portfolio and offer it in low price for a short period of time. i agree that the prices in AJ are ridiculously low, but thats is a different subject… ill love to see 2 more boxes beside the “Featured File” box,one for music pack, and one for the discount track.

5403 posts The Dude Abides
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CodingJack says

I didn’t ment to allow users to undercut each other (thats terrible idea), the author himself can choose file from his portfolio and offer it in low price for a short period of time. i agree that the prices in AJ are ridiculously low, but thats is a different subject… ill love to see 2 more boxes beside the “Featured File” box,one for music pack, and one for the discount track.

I have to admit I know next to nothing about how things are over on AJ. But for AD, CC and TF, allowing authors to create a “discounted” item would be a terrible idea. Here’s why:

  • “author A” and “author “B” both have very similar products for sale
  • “author A” lives in a country where cost of living is very high
  • “author B” lives in a country where cost of living is very low
  • Because “author B’s” cost of living is very low, he decides it’s worth his while to discount his product whenever possible.
  • “author A” has no choice but to discount his similar product as a result in order to compete

That’s how price wars work, and they can destroy a marketplace in my humble opinion.

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dodyrw says

I’d love my item become one, because it increase sales. As customer perspective, sales number is one of buying factor.

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CodeFusion says

“none”/2 = @#&*

(“none”/2) - BB = (negative)@#&*
Again, I’m not for, or against it, I’m just saying


CodeFusion Man you should be in marketing …

Unfortunately, I am. Being self-employed, my marketing ability is part of the ratio that determines (if/how well) my family eats. I’ve been self-employed for over 6 years now, so apparently my mixing psychology and sociology with business is a great blend.


... showcasing top selling files is a smart business strategy. And it would probably make sense to replace the homepage featured files with the previous week’s top sellers….
This is a strategy for a new (startup) business, with a weak client base. Putting the hot ticket items right inside the front door is how small (middle man) companies get started. They need customers – the best way to obtain them is by delivering what the customer wants, in the shortest time possible, as cost effetely as possible, with the least amount of hassle.

This type of strategy is also fragile. If the market shifts overnight, and the hot ticket item you’ve been relying on becomes taboo – you’re screwed because that is all you’re known for – pushing that (now) taboo item. Think of it this way, if Envato pushes a CC script that is a major seller, they push it harder because it’s a major seller, but it is discovered that that item has a major XSS hole, it will tarnish the reputation of the author as well as Envato. If Envato was banking on that one item alone, their empire could crash. If Envato was banking on the entire marketplace, Envato would remain stable while the author him/her self would crash alone.

Once you have a loyal client base, you can afford to move the hot ticket items a little further away from the door, and let people know you have more to offer. Big sellers keep selling, plus now there is extra income from selling other items as well. Moving big sellers too far (and/or) too fast can reduce customer retention – so it’s a balancing act based on trial and error.


Because having featured files on the homepage is nice for showing off the great talent we have here, but the files that get showcased aren’t always big sellers…

One might try to see Envato as a startup business because there are only 1.58 million members (of the 7 billion world population) (something like 0.02%). In which case, the big sellers at the front door would apply. But the loyalty of these buyers essentially exponentiates the “number of buyers”. Because of the strong loyalty, Envato can afford to move the hot ticket times a little further from the door, to sway customers to check out other items that normally go unnoticed. This in turn creates new Big Sellers – they slide further away from the door making room for other new items. Envato is known for its member’s talent – that is why Envato is still in business. As long as the customer knows their target item is in the “store” they will “judge a book by its cover” on their way to their target item.

But you are correct in implying to not put trash at the front door. Fortunately, Envato does not allow trash in their “store” – their definition of trash – may or may not be your definition of trash. Essentially everything is front door material. Beings as two objects cannot occupy the same space at the same time; there must be a priority or order for displaying all items. So, marketing strategy comes into play – the debate of what gets spotlight attention starts all over.

Oh, by the way, one cannot envision Envato as a square building with one entrance and exit. Envato is more like a mall, or circle building with multiple entrances and exits.
A square building marketing strategy does not work on a circular building marketplace. Envato cannot rely on microeconomics, nor can they rely on macroeconomics, they must juggle both!


CodeFusion for president!! :)
+1 – though my opinion may be bias.





When an author edits their item, have a button to submit that item to a “bot” to deal with. To keep authors from undercutting / abusing the BB (once its seen as a positive tool) write an algorithm something to the effect :
Item active for 1 month & <10 sales = accept to BB with 50% discount. If >10 sales decline
Item active for 2 months & <20 sales = accept to BB with 70% discount. If >20 sales decline
Item active for 3 months && <20 sales = remove item from marketplace

If active for more than X months and has more than X sales = decline with message = “Keep your head up and seek twitter, facebooger, etc.” – aka – help yourself with your own marketing.

Kick the system on autopilot and let it take care of itself.

After an item reached X sales, or been spotlighted for X amount of time, rerun the algorithm and deal with it accordingly (put it back on the normal marketplace, or toss it to Oscar).

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