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Jul 11

Q&A Monetization: Quora’s Answer to the Question

It looks like Quora, the popular Q&A site, is beta testing, “credits” as part of a feature they call “Ask to Answer.”  Alexia Tsotsis at TechCrunch has the scoop here, it’s worth a read.  The article includes the unpublished FAQ and a screenshot.

Frankly, I am surprised it took Quora this long to figure it out.  I know it takes time to figure out a business model (Twitter…cough, cough), but I was under the impression Quora had some bright people at the helm (I kid, they do).  But seriously, I hope their approach works.  The article also mentioned Quora is exploring various game mechanics to help increase usage.  The credits/game mechanics approach is similar to what we are building into InStat Sports.  We are constructing a system which rewards fans with status and other goodies, in order to help them be better fans.  Where I believe Instat Sports holds an advantage over a site like Quora, is that sports are a game.  The acquisition of knowledge and the general curiosity of people could lend itself to being “gamified,” (Jeopardy comes to mind) but the link is not as direct.  Stack Exchange gets around this by concentrating on small communities (ahem!).

InStat Sports is ideal for sports fans in their element.  As a sports fan, I am always on the lookout for exciting plays, interesting stats, and people to debate with about the game.  I also, like many sports fans, have down time while watching the game.  Maybe it is slow, maybe it’s just a normal football game with 17 minutes of action spread out over 3 hours, I don’t know.  I do know that sports fans have information and opinions swirling around their brains, ready for that argument with a friend, or to yell at the TV.  InStat Sports provides a platform for sharing that information with others that want it and rewards those sharing it.

Quora is a solid product, and I hope the credits experiment pans out for them, but I believe their core audience of entrepreneurs and startup junkies will be the only ones to embrace it.  Unfortunately, I do not think that will help Quora make money.  But they will keep trying, and I am sure they will eventually figure something out.

Don’t forget, we still have invitations to be part of our Alpha Test group!  Click here and sign up today!

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