How to monetize your Wordpress website with myCred and CometChat Go

CometChat Go now offers a ready integration with myCred. myCred is a leading credits management system for the WordPress platform.

It was designed to contain all one would need to use "points" on a website.

"Points" can mean a lot of different things, so the plugin was written to help you set up the most popular point-related configurations, ranging from basic point balances with manual changes to creating your own store loyalty system.

Most Common Ways MyCred Can Be Used

• Reward or charge your users for sending private messages

• Reward your users for most BuddyPress Group related events, ranging from joining groups to uploading cover images.

• Reward your users with points for attending Live events.

• Reward your users with points for uploading photos, videos and audio files.

• MyCred “Points” can become as a payment option in your Buyer Seller chat for your Marketplace

• Clients can prepay credits (tokens) that show in a site wallet and can be used anytime later in chat to pay for videos, pictures or membership.

Requirements for myCRED

In order to use myCRED WordPress plugin, a website must have:

WordPress 4.5 or greater

PHP version 5.6 or greater

PHP mcrypt library enabled

MySQL version 5.0 or greater

Monetize your online business with CometChat Go & myCred

Here’s some suggestions on practical ways to monetize your website with CometChat Go and MyCred, along with some examples for each:

You can now charge credits to allow users to direct message each other. This is quite popular in dating websites, where users can see each other but messaging requires them to have credits.

Your users can also pay for video sessions in credits. This works well if you are running an experts’ marketplace or are a consultant/counselor.

Credits are a great way to monetize your marketplace, dating or consulting website. Your users can buy credit packs from your site and use them as they see fit.

This business model encourages expenditure without creating a direct correlation to money. So your users are free to take advantage of the premium offerings of your online business.

You can also monetize the content you sell on chat with points. Depending on the nature of your organisation, you may be extremely commercially driven, not commercially driven at all or somewhere in the middle, But using MyCred will be a win win situation for both you and your customers.

How it works?

It’s very simple and the entire process hardly takes less than a minute.

Step 1:

Select CometChat from the left side menu.

Now Click on “MyCred Settings” Tab.

Step 2:

Select “Enable MyCred with CometChat” and Click on “Save Settings” Button.

Step 3:

Now you can see all your User Roles. Select the Role and Modify the number of credits you would like to charge and click “Update Credit” Button.

Now Credits deduct from the user accounts if and when they use any feature e.g. Audio, Video, Text Chat.

Wrapping Up

What are those points going to do? It's up to you. The myCRED plugin, which is needed for this integration to work, has a number of addons enabling users to buy points and spend them on content and other purchases.