help you monetize your virtual goods and collect on-the-spot payments from users, such as Social Gold or Offerpal Media . Developing a virtual currency system also makes your users feel more comfortable paying for goods, says Fleck. "The key is to minimize friction," he says. "The first time, there's a bit of hesitation for the customer, but once they have access to those 10,000 credits, it's easier for them to spend because they don't have to keep pulling out their credit card." Once your virtual goods and currency are in place, you must measure the interaction of your users in order to further guide your strategy and expand your catalog of goods. How many times a day do users send messages to each other? What specific areas of your site do they visit, and for what reason? Keeping track of these things will help boost your conversion rate and keep your virtual goods venture profitable. "People that have done very well in this space, like Zynga, measure things like pricing and social virality," says Balfour of Viximo. "There's a whole new set of analytics available to the online world because we're selling virtual merchandise." Balfour recommends the use of social analytics platforms such as Kontagent or KISSmetrics to help with this. Above all, be sure to keep the social engagement of your users as the basis of your virtual goods market, says Fleck, not just with your product, but with each other, as well. Read more: J.J. McCorvey is a