Many software firms are hemorrhaging revenue in inconspicuous ways. Whether they are using inflexible licensing models or relying on dysfunctional back-office platforms, companies are putting their own operations at risk by utilizing tools that don’t adequately meet their needs. However, one of the biggest missed opportunities when it comes to making money is software distribution monetization.
According to a survey by the Software & Information Industry Association (SIIA), 53 percent of software firms believe that they would have higher recurring revenue if they implemented better licensing models, while 46 percent noted dysfunctional back-office operations as having a major impact on profits. However, about 67 percent noted that they could significantly enhance their operations and profit margins by investing in installer software monetization solutions. Revenue could be boosted by at least 25 percent, while the integration of high-end installer programs can enhance offerings in many other ways that improve brand recognition and image.
“The industry finds itself at a critical tipping point as software publishers look for more innovative and effective ways to maximize the value of their [intellectual property],” said Rhianna Collier, VP of the SIIA’s Software Division, according to TMCnet. “They need to better align their software monetization strategy with their business objectives and drive those strategies very early in the product development cycle. That way, they can develop software packages to meet their customers’ current and future needs, and build licensing into their software and back-office systems.”
The use of high-end software distribution monetization strategies can help firms get paid for downloads and enhance customers’ experiences with installation through branded installers. This can promote the company’s IP without significant overhead and provide the tools necessary to assess the success of these efforts. By investing in a solution like installCore that integrates analytics with software monetization, firms can increase their bottom line and gather metrics on these efforts in order to further improve them at the same time. This allows software companies to focus on expanding their brand and providing customers with a high-quality download and installation experience every time. Ultimately, this will provide a stronger customer relationship and allow firms to address more focused needs when it comes to both business monetization needs and customer desires for service. It means more flexibility and control over cash flow, and also serves as a way to show customers that you care.