I had a design asset for sale for several years. I priced it at “pay what you want, no minimum”.
There were thousands of downloads with people paying $0. I’d get an occasional $1, 3 and on a rare occasion a $10.
A few weeks ago I changed the pricing to $5 min. Now sales are pouring in.
Safe to say value for value did not work.
Design asset.. hmmm 🤔
Say more.
Pricing is a very complex world.
We have lizard brains. It’s why pricing is the most important “p”, imo.
Jordan Peterson has touched on this. Basically: “Why not offer these courses for free? Because more people will view them and value them if there’s a price.”
Price in dollars is the best signal of the value of a thing in a market economy— it’s natural that something worth $0 is worth less.
#btc #valueforvalue #economics
I'm pretty sure value for value is more of a social media community kinda' thing. Webshows, podcasts, live streams, things where your connections and communicating with your audience and can form para social relationships.
Otherwise if you don't set some value on your work name people will not recognize it.
If you don’t value your work no one else will. Only the producer knows the input costs. Only the consumer knows what it’s worth to them. The market value of a good is arrived at by two or more parties arm wrestling. In the ideal transaction the seller and the buyer both feel like they were cheated a little but ultimately they’re satisfied with what they got.
“Pay what you want / what you think is fair” is a fascinating concept. But imho it only works if the buyer has a general idea of what that good is approximately worth. Which for non-tangible goods is extremely hard because it’s unclear to most buyers how much effort it took to create them.
I wonder if it can be pay what you want, but there's only one button "purchase" and the price above or next to it is a field with a default value of $5 (that can be changed to a zero). No sliders or up/down, just a number text field.
I wonder if people would just click buy without changing it, or take the effort to change it before hitting purchase.
They change it. I think my setup had an option for a minimum value
