Sunday, July 12, 2020

Wuolah: Monetize your notes, offering them for free.

Share notes? A classic. But Wuolah has also made it profitable, collaborative, digital ... with a model adapted to the style of consumption of the students of the 21st century. If you are good at taking notes and organizing the subject, why not take advantage of it?   You earn money, and your notes are available for free to other students everywhere.

Sharing notes online is not something new. But Wuolah turns the idea around: it rewards quality in format and content and creates ways to monetize the work involved in generating them. At the same time, it removes the idea of collaborative study as a bum thing. The idea came up in Seville in 2015, and after years of effort, it has managed to spread throughout Spain. With nearly 800,000 documents and 18 million downloads, last February it obtained a financing round of 1 million euros.

How does it work? Very easy. If you have good, legible, quality notes prepared by you, you can upload them to the platform in PDF format. Exercises, practices, or exams are also valid as long as they do not violate copyright. Any student can download them for free, and you will receive a small amount for each download. How much? About 10 or 15 cents but in any case, It varies depending on the extension, the quality of the material, or the constancy of the climbs. Students who share notes more frequently, and whose materials receive better ratings, can become 'Pro Students' with shorter payment deadlines or preference in new services. But Wuolah also stresses that joining the platform has other possible benefits. "Uploading notes requires perseverance, discipline, and other skills that will make you a better student," they point out from Wuolah.

A break in the studio, a break for advertising

The secret to obtaining benefits and being able to offer content at the same time for free is in advertising. Small advertisements that are inserted into the downloaded material. Thus the advertiser reaches the youth audience and can segment the advertising according to the location or other characteristics of the user. This has provided an interesting opportunity for local businesses. On the other side of the coin, the author of the notes can accumulate considerable amounts of money. It is not easy nor does it happen in all cases,  the download charge is low, but there are success cases. Some students have accumulated more than 500 and even exceeded 1,000 euros.

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