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The Golden Hour
The Golden Hour
By S. Housley
Michael Halls from FileKicker http:www.filekicker.com
recently conducted a fascinating statistical study. The study tracked the habits
of approximately 2000 purchasers and the relationship between the time of the purchase
and download. The results spoke of the "golden hour". Actually the results
were so skewed, they more shouted GOLDEN HOUR, with the significant majority of
purchasers occurring within the first hour of a download. Traditionally purchases
occur within the first 24 hours of download as seen on the first graph Michael presents:
The Y-Axis is a percentage, the X-Axis is the number of days from download that
the purchase occurred. Clearly about 65% of users order the product within 24 hours
of downloading the software. Michael did not track the number of users that purchased
prior to downloading, if those purchases were counted on day zero, the percentage
would likely be significantly higher.
In order to further evaluate the habits of the purchaser, Michael took his study
a step further evaluating the hour in which the purchaser purchased.
The second graph records how many hours after the download the purchase is made.
The study reinforces the idea of a "golden" hour for shareware. If you don't close
the sale in the first couple of hours, you will likely not close it at all.
The results were not surprising for consumer related applications or what would
be considered "impulse" buys but the graph incorporated the results of
business applications as well. While consumer purchases are somewhat predictable,
the habits of business purchasers was a bit startling, as industry experts frequently
claim that making a sale to a business takes more time. This may be true for some
vertical or database intensive but according to the 2000 products and purchases
tracked it is clear that developers need to seize the golden hour.
About the Author:
Sharon Housley manages marketing for the NotePage and FeedForAll product lines.
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