...the penny gap, that is! Are you familiar with the penny gap concept? It has been in the news recently as some online publications have considered going from a free content model to a subscription based model, of particular note was this announcement by Rupert Murdoch in August of this year concerning his portfolio of newspapers' websites.
The premise of the penny gap, is the fact that the hardest money to get people to part with is the first cent. As in the difference between FREE aka $0.00 and the princely sum of $0.01, they say that it is easier to get people to go from 1 cent to 2 cents (although I've never tried). It has something to do with inertia, and mental transaction costs. For those of you interested in a more eloquent description of the penny gap pertaining to web based content you can find it by clicking here. (I love the graph.)
Where am I going with this? Well coins have been thin on the ground lately (that's no secret I publish my total). That has led to some soul searching here at Castle Sidewalker, and we have been mulling the idea of charging a fee to read this content. I thought a penny a view would be fitting price schedule, what do you think?
It was just after that thought when the lightning bolt struck! You, my dear reader, are not a customer; you are my partner. I rely on you to distribute my content by word of mouth. Luke Sidewalker is not 'main stream', in fact it's not even main trickle. Where would your motivation be to spread the word of Luke if you were charged for access? Probably marginally less than where it is now! Anyway, upstanding people do not charge partners for access to content. And you are my greatest asset. Without you I'd just be a sad old guy scratching around the waste grounds of America trying to find beat up old disks of metal under the guise of teaching his two pre-K children the value of money.
So my partner, I salute you. Now go forth and spread the word of Luke!
In other news, I've been working on another article for FiLife.com, as always if it gets published I'll make sure you're the second person to know. That's FREEmium service right there, that is; don't say I never take care of you!
-Luke Sidewalker
-Current balance $23.62
3 comments:
Hmm, I had never heard of the penney gap and to me that is proof times are tough. I think it used to be the 99.99 dollar gap because $100 was too difficult.
I like to think of us as partners to spread your word but if you do start charging, I'd gladly part with that penney.
I never heard of the penny gap but you're right. It's very hard for me to decide to buy something but if I decide to buy one, I might buy two.
-Blueviolet, you have captured the essence of the penny gap exactly.
-MW of RPM, kind words and sentiment. Thank you.
Luke Sidewalker
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