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PWYW - pay what you want

  • 30-05-2017 2:44pm
    #1
    bren2002
    Registered Users, Registered Users 2 Posts: 1,208 ✭✭✭


    Hi all

    Has anyone experimented with a pay what you want strategy?

    I've been mulling an idea recently, of providing a product for free and following up with a link to suggest payment of what the purchaser values the item at.

    Interested to hear others experiences or even thoughts.

    I should say the following though, I can produce the product for very little over head, less than €1. I'd have to charge for shipping and could cover the base item cost in that, but none of the added value. The added value would be what the purchaser chooses, including the option to pay nothing. It seems from research that about 6-10% of people will pay something.

    I must look back through freakenomics, wasn't there something in that on this model?


Comments

  • #2
    jimmii
    Registered Users, Registered Users 2 Posts: 14,810 ✭✭✭✭jimmii


    I seem to recall there was something in there somewhere. I think this works ok irl but be surprised if it would work online. An honesty box works in a shop or cafe because people don't want to be seen not putting something in whereas online they obviously don't have that issue.

    When Radiohead made their album available for free less than half paid anything and despite being able to get it free more people downloaded it from bit torrent than from their site! If you're charging for shipping I think it's even less likely people would pay as they would feel they are already paying to receive the product.


  • #3
    CeilingFly
    Closed Accounts Posts: 3,378 ✭✭✭CeilingFly


    I think it only works in selected situations where you can connect with the person such as in a restaurant.

    Even then I think it only would work on occasions such as introducing a new menu or having a tasting menu.

    The customers would need to pay something rather than an option to pay.

    If you simply give something and then ask them after giving it to them, then i would think the non payment rate would be quite high.


  • #4
    Fukuyama
    Registered Users, Registered Users 2 Posts: 3,023 ✭✭✭Fukuyama


    This strategy is quite a few years old now and mostly proven useless.

    It IS good for adding a little perceived value to a product that might have been free anyways (e-book, online course etc...). But in terms of revenue generation most people will simply not pay.

    A model which works well is to distribute the free product with tiebacks to a premium version or extra content. Some ebooks often have tools/resources which you can get access to by paying an extra few quid.


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