SoundBooth’s New Reward Coins System, Earnings Model and Campaign
SoundBooth now has a Reward Coins System
Here’s how it works:
When you order a service or a revision, you get 1% of your purchase price back in Reward Coins. If you have a SoundBooth Membership, you’ll get 7% of your purchase price back in Reward Coins.
Reward Coins are worth 1 cent, so for every dollar you spend, you’ll receive 1 Reward Coin, or if you’re a subscriber, 7 Reward Coins.
You can use your Reward Coins on the checkout page to reduce the price of any following order. Simply Apply the amount of coins you want to apply on the checkout page.
You can see your Reward Coin balance on the left menu. You can use the Reward Coins menu item to see your Reward Coin transactions.
We have a lot of really cool features to implement with the Reward System, so stay tuned.
The New Seller Earnings Model
The new Reward Coins are designed to promote the community and increase purchases on the platform.
Sellers now receive 70% of the sale price, and Sellers with a SoundBooth Membership now receive 90% of the sale price, both minus the Stripe payment processing and transfer fees (2.9% + 80 cents). The effective rates are then:
- Free account: 67.1% - 80c
- Subscribed account: 87.1% - 80c
You can adjust your prices from your services pages. We recommend updating them to accommodate the new earnings model.
The New Campaign
We’ve launched the first phase of a major advertising campaign aimed at expanding the community. We’ll continue to ramp up efforts for the campaign.
One thing you can do to make the platform better is make sure you have audio samples attached to your services.
One thing you can do to raise awareness is share your profiles. Simply go to your profile and click the email, Facebook, Linked In, Twitter or Pinterest sharing buttons at the bottom of your page.