Wednesday, 29 September 2010

Online content - what will people pay for?

What a great question. If we knew the exact nature of what people would pay for online it would simply be a case of advertising it to the target market and success would follow.
Unfortunately it’s not quite that simple. However I have recently come across a great article about the most likely reasons why people will part with their cash online - despite traditions of the 'free' nature of online content. And with the online newspapers experimenting with pay per view models, perhaps it's time to start re-thinking your online strategy.
You can access Miles Galliford's article below but here are my three most important reasons which might tempt people to subscribe and/or pay for online content:
1) Offer something that users can't get anywhere else. The more exclusive the better.
Think - the online service of is unrivalled in its ability to offer the latest national and international business news and hence can ask users to pay a premium for it.
2) The aggregating of information. As more and more information floods across the Internet this will only become more important. People will also be prepared to pay for a service that saves them time - everyone is wanting the answer to their question immediately (again a trend set to continue).
3) Community and exclusivity. There are a whole host of examples where people pay to set themselves apart – we love to be exclusive. From spending more money on fashion products to joining an expensive sports club, a large part of the increase in price for these goods or services is often perception and exclusivity. The task for businesses is to create a community online that people really want to be a part of.

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