Business and Monetization Opportunities for Developers
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My "Business and Monetization Opportunities for Developers" talk from WordCamp Sofia 2016 - discussing different revenue streams for WordPress developers toward the product business model, with tips and tricks on marketing and billing.
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Business and Monetization Opportunities for Developers
- 1. Business and Monetization Opportunities for DevelopersMario Peshev / CEO at DevriX
- 2. ➔ CEO, WordPress Architect @ DevriX ➔ Former Java/PHP/Python Developer ➔ Consultant and Technical Lead for several SaaS Solutions ➔ Marketing and Project Management chops ➔ @no_fear_inc ➔ Open Source addict and Cofficer About Me Mario Peshev, @no_fear_inc
- 4. How to Profit a s a WordPress Developer?
- 5. Premium Themes ➔ The most popular way for selling products vs. services ➔ Does not require proficient coding skills, suitable for people with marketing/design background ➔ Market is oversaturated, race to the bottom for 2-3 years now ➔ Niche themes are still a thing though Mario Peshev, @no_fear_inc
- 6. ➔ Building niche themes or implement outstanding designs ➔ Create theme frameworks, option frameworks, licensing APIs ➔ Work on embeddable solutions (galleries, builders, other tools that can be integrated within a theme) ➔ A hosted WordPress solution with your premium themes ➔ Support and Tutorial folks are like unicorns Theme Ecosystem Opportunities Mario Peshev, @no_fear_inc
- 8. Freemium Plugins ➔ A free core plugin with a paid Pro version or add-ons ➔ Works great for a free trial with an upsell ➔ Gets people engaged and invested in your product ➔ Allows for a larger audience and faster marketing Mario Peshev, @no_fear_inc
- 9. ➔ Get paid for features added to the plugin ➔ Build plugins for clients and release for free whenever possible ➔ Create an extensions ecosystem for additional features ➔ Upsell additional consulting, development and maintenance Get Paid for Improvements Mario Peshev, @no_fear_inc
- 10. Premium Plugins ➔ Building WordPress plugins for a fee ➔ Still allows for selling add-ons and extensions (like Gravity Forms) ➔ Also a good stream of annual recurring revenue with renewals ➔ Marketing a new paid solution is fairly challenging Note: All plugins need to be fully GPL-compliant Mario Peshev, @no_fear_inc
- 11. ➔ A lucrative way to code less and leverage marketing ➔ In a way, that's what plugins are to WordPress in general ➔ Extend a powerful and popular plugins and tap to its user base ➔ Applicable to larger plugins (eCommerce, builders, event managers) Extensions Mario Peshev, @no_fear_inc
- 13. Plugin Marketplaces ➔ WordPress.org for freemium solutions ➔ Your own website ➔ Plugin marketplaces ➔ Core plugin sites listing extensions Mario Peshev, @no_fear_inc
- 14. ➔ Lists the Core plugin plus extensions ➔ Runs promotions and campaigns on your behalf ➔ Marketing out of the box ➔ The EDD Team takes care of support The EDD Marketplace Mario Peshev, @no_fear_inc
- 16. ➔ Hosted software distributed on a subscription basis ➔ Platform-independent, centralized updates ➔ Usually integrates with tons of other services ➔ Handle the data and analyze behavioral patterns What is SaaS?
- 18. The Full Package ➔ Bundle both your codebase, and additional plugins ➔ Set the environment standards - both hosting, and WP stup ➔ Define the payment terms ➔ Cancel accounts after payment expiration Mario Peshev, @no_fear_inc
- 19. Theme Ecosystem Opportunities ➔ Building niche themes or implement outstanding designs ➔ Create theme frameworks, option frameworks, licensing APIs ➔ Work on embeddable solutions (galleries, builders, other tools that can be integrated within a theme) ➔ Marketing and Project Management chops ➔ A hosted WordPress solution with your premium themes ➔ Support and Tutorial folks are like unicorns
- 20. Theme Ecosystem Opportunities ➔ Building niche themes or implement outstanding designs ➔ Create theme frameworks, option frameworks, licensing APIs ➔ Work on embeddable solutions (galleries, builders, other tools that can be integrated within a theme) ➔ Marketing and Project Management chops ➔ A hosted WordPress solution with your premium themes ➔ Support and Tutorial folks are like unicorns
- 21. Theme Ecosystem Opportunities ➔ Building niche themes or implement outstanding designs ➔ Create theme frameworks, option frameworks, licensing APIs ➔ Work on embeddable solutions (galleries, builders, other tools that can be integrated within a theme) ➔ Marketing and Project Management chops ➔ A hosted WordPress solution with your premium themes ➔ Support and Tutorial folks are like unicorns
- 22. Theme Ecosystem Opportunities ➔ Building niche themes or implement outstanding designs ➔ Create theme frameworks, option frameworks, licensing APIs ➔ Work on embeddable solutions (galleries, builders, other tools that can be integrated within a theme) ➔ Marketing and Project Management chops ➔ A hosted WordPress solution with your premium themes ➔ Support and Tutorial folks are like unicorns
- 24. Tools and Services ➔ Support System ➔ Email and SMM Automation and Sequences ➔ Zapier or IFTTT ➔ Reliable payment solution ➔ A hosting partner, IaaS or PaaS Solution Mario Peshev, @no_fear_inc
- 25. Stratus5 ➔ A Cloudware-based PaaS ➔ Takes care of billing, first-level support, renewals, payments, infrastructure ➔ Takes a cut on your profit ➔ More partnership-based than outsource-oriented Mario Peshev, @no_fear_inc
- 26. ➔ Payment terms in Bulgaria are really complicated ➔ On top of the EU law, there's the Bulgarian one ➔ You can leverage PayPal, 2Checkout, Payoneer etc. ➔ Accounting could be a major bottleneck as your business grows Payment Handling Mario Peshev, @no_fear_inc
- 27. ➔ A hosted payment solution for different digital products ➔ Detailed analytics, customer management ➔ Deals with all financial troubles of an entrepreneur ➔ Subscription is $10/month. Charges 3.5% + $0.30 of a sale Gumroad Mario Peshev, @no_fear_inc
- 28. Final Notes
- 29. ➔ Blogging ➔ Tutorials, plugin reviews, demos ➔ Affiliate networks and cross-promotions ➔ Online training courses ➔ Integrating different plugins together Mario Peshev, @no_fear_inc Other Sources of Revenue
- 30. Some Extra Tips ➔ Write a detailed business plan ➔ Focus on one thing ➔ Tackle a niche and profile in it ➔ Branding and marketing are important ➔ Partnerships and networking ➔ Consulting opportunities for starters (high rate, low engagement) Mario Peshev, @no_fear_inc
- 31. That’s all folks! Questions? Tweets as @no_fear_inc Mario Peshev on LinkedIn nofearinc on WordPress.org GitHubering like mpeshev Blogging at DevWP.eu