Several people posted comments on yesterday’s post asking about what benefit the statistics actually provide. I can only speak for myself so that’s what I’ll do.
My goal as a marketer of software is to get my advertising in front of as many people who are interested in my product at the moment when they would be most inclined purchase my product or at least download the product if they aren’t going to purchase immediately. In short, I feel that the information posted yesterday gives me, at the very least, a benchmark for which times to target in order to reach my goals.
One commenter said that the information was obvious and that we all know that downloads are lower on the weekend. Yes we do, but I’ve been selling shareware for several years and I wasn’t 100% sure that most purchases were made on Tuesday. My sample size isn’t quite equal to that of Thomas Warfield or Nick Bradbury. Why is it beneficial to know that Tuesday is when most purchases are made? Because now I can offer an incentive to purchase on Thursday or Friday and possibly increase my overall conversion ratio.
Since my business is best served by making more money, my time is best spent with ways that will increase my overall profit. Two of the primary ways to do this are to increase sales and decrease expenses. In talking with many shareware developers, I’ve found that most use Google AdWords as a primary method of marketing their product. Now that Google is opening up the AdWords API, my guess is that we’re going to see dozens if not hundreds of apps that will handle scheduling of ads. By scheduling ads to appear at times when people are more likely to download my software, I have a better chance of both increasing sales and quite possibly, decreasing expenses. My other option is to use the API to increase the bids on my AdWords so that they appear first in the list during non-peak times which has the potential to increase sales during times that are traditionally slow. The statistics posted yesterday give me the information on where to start with minimal trial and error and, in turn, less wasted money.
The one question I asked eSellerate that they weren’t able to answer was “What is the average number of days that pass between the time the software is downloaded and the time its purchased?” Because downloads are highest on Wednesday and purchases are highest on Tuesday, then a guess can be made that most people purchase the software 6 days after they download. If this is in fact the case, I’d like to find ways to incent people to purchase the software more quickly. These statistics gave me this information which I may not have known otherwise.
Ways to use the stats:
- Target ads for peak times
- Make ads more visible during non-peak times
- Offer incentives to purchase on non-peak days
- Decrease the time between download and purchase
- Focus my marketing efforts with less trial and error
- Focus my marketing to spend less money to make more sales
- Print out the pdf and burn it to keep warm for a few seconds