Generate maximum returns for your VPN service with these 4 effective strategies.
Virtual private network (VPN) service allows individuals to protect their personal information from being stolen by prying eyes. Large corporations and institutions use VPN to connect remote workers to their internet without having to compromise sensitive company information. The technology can also be used to hide an end-user’s real location, allowing him or her to access content or online services that are not available in his or her country.
Being able to access or to connect to a VPN is important for many. As a VPN service provider, you ought to take advantage of the significance of your business to others to generate maximum returns. Below are some strategies that can help you maximize your profit and grow your business.
Implement subscriptions
Subscriptions provide a great way to monetize your service as it can offer a steady flow of income for your business. When your users subscribe for either a weekly, monthly or a yearly access to VPN services, you will be able to earn revenue on a regular basis. However, you need to be able to provide a good quality of service to encourage users to subscribe and to gain their loyalty. To make the most out of subscriptions as a monetization strategy, you should consider integrating a credit card processing service on your website.
Place advertisements
Advertisements can be an effective monetization model for VPN service providers that receive thousands of website visitors regularly. Through the cost per thousand impressions (CPM) model, a website publisher can get paid from advertisers when their ad receives a certain number of impressions on a website.
Accept donations
Donations can be another way to drive revenues for VPN providers, especially those that initially offered their services for free and wanted to keep it that way. To encourage end-users to donate, you need to make sure that your service is of good quality. You should also have a large pool of regular customers when raising donations, because they can testify about your service while contributing to your initiative as a sign of gratitude. For small- and medium-sized VPN service providers, accepting donations can be an effective approach in increasing your revenue. For larger providers, it is recommended that you combine donations with advertisements. Inform your users that they will no longer see ads on your website when they make a donation.
Implement virtual economy
Another way to increase revenue for VPN services is through virtual currency. VPN providers may assign a certain amount of virtual currency for a specific period of using their service. In return, users will then be able to choose how long they would like to access a VPN service. If they need more time to use the service, they can top up their balance of virtual currency through different payment methods, such as credit cards, bank transfers, prepaid cards, and more. They may also choose to earn virtual currency within the website by completing certain tasks related to advertisements, such as watching a video or installing an app. Another way that users can top up their balance is by completing a rework program posted by the VPN provider at his or her website.
As a VPN service provider, some of the strategies above can help you monetize your website. To make the most out of them, you need to make sure that your website can accept payments from your end-users. When it comes to payments, there isn’t a one-size-fits-all approach. Payment methods are dependent on the location of your end-users, and you need to be able to learn each of them to maximize profits.
Payment methods for VPN service monetization
Prepaid / Gift Cards
Prepaid cards, such as MINT or Paysafecard, can be purchased with cash at a certain store or at a retailer. They contain a special number or PIN that users can enter at your website to be able to access your service. Using prepaid or gift cards do not require disclosing personal information, and are suitable for those who want to protect their identity.
E-wallets
An e-wallet is a reloadable online account that can be used to pay for digital goods and services, as well as physical products sold at e-commerce sites. It can be linked to a credit or debit card, or it can be funded through bank transfer. E-wallets offer a suitable payment option for users who would like to try your service, but are still hesitant on signing a long-term contract with your business.
Credit cards
A credit card provides a credit line to the cardholder where he or she can borrow funds to pay for goods and services, and then pay it back after a month or after a certain time period. For VPN service providers, credit cards offer the best payment method for subscriptions. With a recurring billing service, you can even manage subscriptions by automating the sending out of invoices to your end-users.
Cryptocurrency
Cryptocurrency is a virtual version of money that changes hands over the internet, without having to go through banks. One example of cryptocurrency is Bitcoin, which does not require disclosing any personal information to make a payment. Similar to prepaid or gift cards, cryptocurrency allows end-users to preserve their anonymity when paying for VPN services.
Bank Transfers and Debit Cards
Though less popular than all the other payment methods, banks transfers and debit cards allow end-users to make a payment for digital goods and services using their own bank account. Of course, these payment methods can reveal personal information, such as the name of the user. Nevertheless, bank transfers and debit cards may be vital in reaching markets where credit cards are not popular, such as in Southeast Asia.
By being able to offer several payment methods, VPN providers will be able to reach various types of users, and expand their market. However, these different payment methods have various requirements, such as setting up a merchant account for credit cards. To be able to implement different payment methods, VPN service providers can work with payment companies, such as Paymentwall. As a global payment and content distribution platform, Paymentwall features 140 payment methods in over 200 countries. With Paymentwall, VPN service providers can cater to a wide range of end-users in different locations and take their business worldwide.
Would you like to grow your business as a VPN service provider? Sign up for a merchant account or check out our blog to learn more.