FLOW

Around October or November last year I setup Greg’s Stats.com.  The site analyzes triathlon stats for each individual competitor in an event.  With the results of the race (swim time, transition one time, bike time, transition two time and run time), Greg’s Stats.com will tell you how did against the competition in each leg.  It’s great information if you have participated in a triathlon and are interested in learning about how you did in each leg.  You might be able to use the information to focus your training on certain aspects of your race.  Here’s a sample:

The raw data is on the left in the above picture.  In each segment, the website shows you the time it took to complete, the distance (if it was a swim, bike or run), your pace (if there was a distance), your rank after the stage, your rank in the stage and how many people you passed or vice versa.  It’s very similar to the endorphin reports that are available at some races.

In addition to reviewing your (or your friends) race specific results, you can setup a profile to save this information, comment on race events and that’s about it.  So where should it go from here?  Endorphin reports cost $10 each, which if you run one race big deal, but if you do multiple races a year it can add up over time.  Greg’s Stats could try a subscription based model – each user pays $10 a year to view the detailed race result information.  I think this model would result in a lot of one time subscriptions.  In other words, I’m not sure the data that is provided is worth 10 bucks.  Sure it’s nice to see and fun to review, but I would probably balk at paying $10 a year (but less so than $10 a race).  This also raises some questions: does the $10 only free up your report or does it free up all reports?  Making all reports available for $10 is tough because you could essentially provide your friends results to them, avoiding the $10 fee.

There may be a freemium model worth looking at.  A portion of the information is free, say race results, race comments, but if you want to view a breakdown of how a person performed in the race, the cost is XX amount.  I wonder what charging a $1 per report would equate to in this model.  There’s a small barrier to view a report, but it’s not that much money.  Maybe a user could buy 10 credits for $10 and each credit opens up a report.

There’s also the advertising only model (how it’s currently setup).  Everything is free with a few text ads or image ads scattered in.  Obviously as the site grows in popularity, there would be more opportunity for revenue through this model, but I think it’s been shown that the advertise only model in the internet world isn’t successful.

I’m sure there are other opportunities for monetizing Greg’s Stats.com, but these are the few that I could think of initially.  I’ll update this post as I think of other money generating opportunities.