Secret to Maximizing Revenue For Music Downloads Using PayPal Micropayments

You can most likely make a small change to PayPal, that could easily increase your profits by 35% and more

The artist for the record label

It’s clear that the traditional model of music distribution through a record company is now obsolete. Bands can now interact with their fanbase directly in this model. Direct sales of digital albums and song downloads from band to fan net artists several times more than the old’recording deal’ model. Under the new model, artists play the role as record labels and are able to keep all the money previously held by this middleman.

Once the artist has made the decision to market direct to his fans via online sales he must then choose the best way to handle the financial aspect of the transaction. Partnering with PayPal to provide merchant services is the best choice for the vast majority of artists.

PayPal has a simple, trusted, and universal.

PayPal is the world’s leading provider of internet transaction services. Over a decade in existence, PayPal is a trusted and secure brand. Customers can feel less anxious about dealing directly with unknown transactions. It allows customers to pay with the payment method they prefer, including credit cards, debit transactions, and from their PayPal account balances. It is a worldwide-recognized name, with more than 150 Million accounts and the ability of transacting in dozens if currencies.

PayPal works as a pay processor and money is transferred from the account of the customers to your PayPal for each digital song download. PayPal receives compensation for providing this service by receiving a small amount for each transaction. This amount is deducted directly from the seller’s receipts.

Two payment rates

The fact that PayPal has separate fees for sellers is something not many people are aware of. The fee schedule defines exactly how much a seller would have to pay PayPal for the processing of the transaction. It is possible to opt for one or both of these schedules, depending on the amount of your average transaction.

The Standard Fee is a flat rate fee that costs the seller $0.30 (in US$) plus 2.9% of the total transaction. PayPal charges $0.33 to the seller per song sold at $0.99. This represents a third the selling cost.

There is however the Micropayments Fee structure. A flat rate of $0.05 plus 5 percent is required to pay the Micropayments Fee. PayPal would charge $0.10 per transaction fee if a song is sold at $0.99. That’s less than one-third the price of the Standard Fee.

Maximizing profits

As we’ve seen, Micropayments Fees can dramatically increase profitability. Let’s say that one $0.99 single download represents a typical transaction for you. This model will net you $0.89 per transaction that uses Micropayments Fee schedule instead of $0.66 for the Standard Fee schedule Fakaza. This will increase your profits by 35%

Is that right?

You can see that the Micropayments Fee provides a much better deal on small transactions. Because it charges a flat rate that is lower, small transactions can be competitive. But, a higher percentage makes it less affordable as the average transaction price increases.

Then, where’s the crossover point. It’s about $12.00. If your average transaction is less than $12.00, you should consider the Micropayment fee. This fee is applicable to digital downloads of most singles or albums. The Standard Fee would be more effective if your average transaction is greater than $12.00. But do you really expect your average customer buy all your albums at one time?

Signing Up

PayPal’s Micropayments Fee option, which is not widely known, is an important feature. PayPal does not make any effort to publicize its availability. Most people are unaware of its existence. There are several options to convert your PayPal account into the Micropayments fee schedule.

PayPal only allows you to use one fee schedule on a particular account. A single account cannot have the Standard Fee Schedule for some transactions and the micropayments Fee Schedule for others. This can be solved by creating two accounts for each fee schedule.

The second is that PayPal does not allow business accounts to access the Micropayments Fee schedule. Premier accounts and personal accounts do not qualify. However, opening a business account with PayPal is very simple.

Wrapup

Many artists are now selling digital songs to fans online. This allows the musician the opportunity to retain the largest share of sales that was previously held by the record label. This can dramatically increase the musician’s profitability. If you are a musician of this nature, you should learn how to utilize the facility to pay PayPal less then a third today.

5 Tips to Encourage Your Customers to Write Product Reviews

The product rating and review feature has been a hit with e-commerce merchants. It is a great feature that assures customers and visitors that the product isn’t just another e-commerce product. This product is getting a lot of attention (both positively and negatively), and we have their thoughts listed here.

When your product details page fails to satisfy customers, they will abandon your company and look for alternatives. Your product details page is the most important section of your website. It is where your customers make their final decision about whether or not to purchase the product. It is important to ensure that your customers are satisfied with the quality of the products you offer.

Your product details page should include the ability for customers to leave feedback and share their experience with the product. A simple comment by a satisfied customer will be enough to convince many customers to purchase the product.

These are 5 tips to improve the efficiency of your product detail page by encouraging customers or visitors to leave reviews about your products.

Tips 1 – Product Details page Design:

The product details page design should be given special attention. People always enjoy looking at pages that are visually appealing and well-presented. The product details page should contain product images, descriptions, prices, attribute selection options, and other information. It should be organized in a clear and concise manner so customers can easily find the relevant information. People are more likely to write about your product details page layout and design if it’s attractive and vibrant. Image zooming, image video, and multiple images help to illustrate the product and give customers a clear view of it. Visitors will likely add more words to a page with eye-catching product details.

Tips 2 – Don’t make things too complicated:

Keep the Review & Rating function simple. It would be difficult for customers or visitors to add reviews if the process was too complicated. The rating option should be available alongside the review option. You can give the product a visual 5 star rating that can be rated with a mouse click. You can offer negative ratings options to give the visitor the impression that they have the right to rate it in their own way. Make the Review email fields optional, as many people don’t wish their emails to be public. Allow the user to choose whether to display or hide their email addresses from published reviews. CAPTCHA should be a concern. The spammers can easily crack easy CAPTCHAs, and the real reviewers will be annoyed by hard CAPTCHAs. Pick one that is hard to break with spamming softwares, but easy to understand by human users.

Tips 3: Moderate Reviews and Rate:

Your ecommerce platform should allow you to manage reviews and ratings left by customers. You should have the ability to control the visibility of the reviews and the number of reviews per site. You can also reply to reviews. Regularly moderating reviews is a good idea if you care about what customers have to say about your products. If customers are frustrated that their reviews don’t get published on your website, they may feel annoyed. Thank them for visiting your site and sending them emails. As a reply to their reviews, write something that would impress both the reviewers and other visitors.

Tips 4 – You can also keep the ‘Negative Review’:

Other visitors may be skeptical if your product details page contains many glowing reviews and all five stars. It’s your best chance of defending the reason customers are critiquing the products and letting others know. Use this opportunity to address negative reviews and provide satisfying answers.

Tips 5 – Reviewing Competition

You could offer a gift, coupon or discount to top reviewers. That would be a great way to encourage customers and visitors alike to look at your products and write about them. A $5 coupon code or a 5% discount, along with free gift wrapping, would be a great incentive for customers and visitors alike to write something about your products.

The Future of Educational Technology and Education 3.0

Imagine what education could look like in ten years. It is easy to see that many of our students are being left behind by the technology trends. Innovation and progress are not visible in our age. Today’s world is undergoing rapid change. Every day new, ever-improving technologies emerge in every corner and part of society.

It will require a new educational paradigm to help educate the brightest and most talented in this brave new world. It will cost us our future if we allow our educational tools to age in a corner of the classroom. Inequitable access to education will lead to the exclusion of many children and a stagnation of the global workforce.

The New Toolbox

A few years ago, I was at an antique auction and spotted a few tools for woodwork that I thought I might be able to use. For just a few bucks I was able snag a collection of old hand tools that might have been in someone else’s toolbox for decades. Over the next decade, these tools became my tools for a variety of projects. My skills and artistic ability in woodworking continued to grow. I discovered quickly that better tools lead to improved craftsmanship. New tools are a sign of new skills, as any woodworker can attest.

Woodworking can be used as a metaphor to shape and mold students. Sharp tools are the only thing that can replace them. The best tools are essential if you want to build the most successful projects. We will be disappointed in our projects in the future if our tools are not improved.

In this article I’ll try to portray the impact technology will have on the education of students in the next ten-years. If we just open our minds to the possibilities, I will show you some of the wonderful possibilities that are available to us. My main focus will be on this idea: Transforming students from passive passengers to active users. You might be curious what I mean. Let me explain.

Ask yourself what it means for you to be a user. A user isn’t just someone who uses. The student’s role as a user is to make use of the latest technology in an autonomous and free manner. This freedom will allow students to take an active role in their education and not just be passive passengers. We have never seen this before.

In today’s technological society, being a user means also being tracked. The engine behind our education should be tracked. Tracking is a part of our everyday lives. Tracking a student allows you to identify weaknesses and strengths in your students. For many years, education philosophy has held the sacred grail of being able to precisely tailor curriculum to individual students. This dream could soon be realized thanks to technological advances.

Individual assessment and the current education curriculum are at best arbitrary. Modern database and tracking technologies are necessary to accurately assess students. It is easy to find the tools to make this possible. This may be the right project for Congress if they are looking for a shovel-ready one.

Imagine a world where every student has a tablet computer that can access the App of virtual photo memory (internet). Imagine every student being able to access all the knowledge available at any given moment. You can also imagine a world where any misspelled word would bring up a spelling challenge app instead of an auto-correction. Think about what it would look like for teachers to have a complete database of all misspelled words, misunderstood concepts and missed equations for each student. You can imagine a teacher being able to personalize the experience to each individual user with minimal effort. Imagine the curriculum being tailored automatically to each user by an intuitive educational platform that recognizes every weakness and strength. I could go on but you get the idea.