[Book] The Complete Guide to Pay What You Want Pricing
There's a better way to sell your products and services...
In The Complete Guide to Pay What You Want Pricing, you will discover:
1. how to delight your audience...
2. how to expand your marketing reach...
3. and how to multiply sales of new and existing products or services...
By letting your customers choose their price.
Sounds crazy, but it's true.
And I'll show you exactly how to do it.
My background in "Pay What You Want" pricing
I starting selling eBooks using a Pay What You Want model back in April of 2013.
In less than a year, I've brought in over $4,000 from Pay What You Want products.
Let me repeat that: I've made $4,000+ from books I give away for FREE.
It's also important to realize that I did most of this in my spare time while working a full-time job.
In The Complete Guide to Pay What You Want Pricing, I explain the exact steps I took (and the same steps OTHERS have taken) to create such remarkable revenue from such an unorthodox pricing model so you can have the same success.
"For the record, pay-what-you-want works. Highest conversion rates I've ever seen. 47%."Jonathan Mead, founder of Paid to Exist
How Pay What You Want works for more than just ebooks
You might be thinking this is a one-off example; that my experience was an anomaly, or that it can only work in certain niches under certain conditions.
No way this can work for a broader range of goods and services…
I thought this way myself for a while.
After all, if Pay What You Want is really this powerful, why don’t more people use it?
So I started digging.
Over the course of several months, I found hundreds of case studies of PWYW being used successfully for everything from digital products and services, to physically based restaurants and wineries. Here are just a few examples (many of which I document and analyze in the guide):
- Bridge Hotel’s Pay What You Want Karma Keg that brings in 10-25% more than their fixed-price kegs
- Amanda Palmer uses PWYW for almost all her music and raised a record setting $1.2 million for her Kickstarter project
- Tara Joyce's freelancing and consulting services that she's been selling as PWYW for more than 5 years
- Radiohead made more from their PWYW album than any of their previous albums combined
- Larian Studios PWYW video game compilation experiment that backfired — and brought in more money than they ever expected
- Panera Bread’s group of Panera Cares Cafe’s that are entirely Pay What You Want based
- Humble Bundle that raises millions for charity and for video game publishers through their PWYW video game bundles
- Joost van Dongen’s hobby project Proun that brought in over $20,000 using Pay What You Want pricing
- Chris Bennet’s Dock Cafe in Belfast that’s run entirely on an honesty-box system
- Libboo, Zoho, Propellerhead and BinaryNow — all software companies that use or have tried Pay What You Want to sell their products
- Perlin Winery in Germany that’s run entirely on PWYW…for the past 10 years
- Little Bay restaurant in London that’s made 20% more revenue using Pay What You Want than their fixed price menu
And many, many more…
How You Can Use PWYW for Your Business, Art and Writing
That’s the question I wanted answered, and it’s the question that fueled my new book, The Complete Guide to Pay What You Want Pricing: How You Can Share Your Work and Still Make a Profit.
In it, I explore:
- The Psychology Behind Pay What You Want Pricing - the underlying principles of WHY it works - essential if you care about using PWYW for your business or art
- The 5 Essential Components of PWYW Pricing - miss any of these and your offer won’t work
- The 6 Step Perfect Pitch Framework - step by step instructions on how to use PWYW to more than double your revenue
- Dozens of case studies and hundreds of examples of people and businesses using PWYW - and how you can apply their strategies and techniques to your business, writing or art
"Think Pay What You Want is just for hipsters who are afraid of charging a price? Think again! Tom Morkes has done a fantastic job of showing how smart businesses (from the very big, to the very small) are using this pricing strategy to get better results than what they were doing before. This book is a treasure trove showing you why, when, and how to use this innovative pricing strategy most effectively, and what pitfalls to avoid. Highly, highly recommended."Danny Iny, founder of Mirasee
The Complete Bonus Package ($249 value)
If you care about putting Pay What You Want to work and actually making money from it (while delighting your customers at the same time), The Complete Bonus Package is what you're looking for.
Here's what you get:
- 6 PDF Case Studies: Learn how Amanda Palmer, Humble Bundle, The Hybrid Athlete and 3 others use PWYW (and practical tips you can apply to your own PWYW product or service)
- 6 In-depth Website Analysis Videos: learn what the pros are doing on their websites and how you can do the same thing with your Pay What You Want offering
- 3+ Expert Interviews: Get inside the heads of entrepreneurs and artists who are using Pay What You Want models to make an impact (and a killing financially). We have 3 so far with more on the way.
- The Essential PWYW Checklist: miss any of these steps and your Pay What You Want offering won’t work.
- The PWYW Quick Offer Video Tutorial: a video tutorial designed to show you how to start making money by sharing your work online today (no business or website necessary).
- Simple PWYW Ecommerce Website Creation Video Tutorial: There are a lot of ways to spend a lot of money online for a nice website, but what if you just want to get your work out there so people can contribute? This video tutorial will show you how to setup a website (for free) and start selling products in 5 minutes.
- The Pay What You Want Scripts Guide: copy and paste these scripts when making an offer to a client or selling a product and be certain you’re making the best offer possible to maximize your return using Pay What You Want.
- The PWYW Quickstart Workbook: use this along with the guide to craft a compelling PWYW offer that increases your credibility, adds value to your existing products and services, spreads your message farther (and cheaper) than conventional advertising, and increases revenue.
- Private PWYW Facebook Group: learn from others using PWYW to (1) sell their art, (2) make money from a hobby and (3) build generosity based businesses.
“Tom Morkes has done an excellent job reviewing the topic of Pay What You Want and helping you determine how to fit it into your own business model. I bought the complete guide that includes videos and interviews. I highly recommend buying the whole package as the audio and video add to the material of his book…Tom Morkes has provided a lot of value, and I doubt you would regret your purchase if you are in any way considering this model.”Eileen Fang
What Are All These Bonuses Worth?
I've seen similar packages sell for $249+
I know because I've bought them.
But in the spirit of PWYW, I want to lower the barrier to entry, while still rewarding those who generously contribute to my creative work.
If you can afford $249, consider all the good karma you're sending the way of others who can't quite afford it.
Your contribution goes straight into new products and services that I try to give generously to everyone.
So thank you for that.
If you can't afford $249, contribute what you can and then make sure to pass on the generosity to others.
Get The Complete Guide to Pay What You Want Pricing + 10 exclusive bonuses (for people who are serious about making PWYW work )
"This is the most comprehensive Pay What You Want guide I have found out there. It is full of personal experiences and how-to goodness. I have forwarded it to a lot of people who haven't dared to give PWYW a try yet. Great work Tom! Thanks for sharing!"Anaïs Bock
The Guide + Bonus Case Studies ($99 Value)
Get the Guide plus 3 Bonus Case Studies:
- Amanda Palmer - bestselling musical artist who raised a record setting $1.2 million on Kickstarter (and who sells almost all her music as Pay What You Want)
- The Hybrid Athlete - a fitness website that sells ma
ny of their products as PWYW (and make $400 - $600 per DAY doing it)
- Louis C.K - a comedian who doesn't exactly use PWYW, but his technique for getting people to buy an easily bootlegged product is remarkable (and applies beyond PWYW to ANYONE trying to sell ANYTHING)
And 3 bonus "Expert Interviews":
- Anthony Vennare – co-founder of The Hybrid Athlete (that makes hundreds of thousands every year form PWYW products)
- Joost Van Dongen – a videogame designer who used PWYW to sell a video game he had created as a hobby – and made over $20,000 in the first month
- Tara Joyce – a consultant who has used PWYW EXCLUSIVELY for the past 5 years – and says her revenue is better than if she used fixed pricing (we talk about the techniques she uses and how she pitches her offers)
Get The Complete Guide to Pay What You Want Pricing + 3 expert interviews + 3 in depth case studies
Tom Morkes is one quarterback confident enough to show everyone on the field his playbook, not just his teammates.Tom Owens, author
Just the Guide ($15 Value)
The Complete Guide to Pay What You Want Pricing (just the guide) has everything you need to learn and implement PWYW pricing.
I spent the bulk of my time making this guide standalone and powerful. I literally spent hundreds of hours creating it and I'm completely confident it will help you increase your revenue, reach and impact.
A guide like this could reasonably be priced at $39 or more (I've paid more for less comprehensive guides), but in the spirit of Pay What You Want, I'm making this available for less than a cup of coffee at your local coffee shop.
(I'll hope you'll tip so I can afford another coffee in the future ;D)
Get The Complete Guide to Pay What You Want Pricing (just the guide) today.
Tom's Complete Guide to Pay What You Want Pricing is exactly what I needed! Clear and concise information delivered in a very readable format. I can't wait to put this resource to use!”Amy Wallace
Why Pay What You Want Works
Pay What You Want works for a number of reasons, but I want to focus on just the top 3 most important factors that matter to you:
1. Pay What You Want removes the barrier to entry
Fixed-price products by their nature create a barrier to entry for consumers. By lowering the price to zero, you remove the barrier to entry.
Yet, while free destroys revenue, PWYW does not — people still contribute, and often more generously than you’d imagine.
2. Pay What You Want removes the price ceiling, letting your top 1-3% of customers contribute more
In an eye-opening interview I did with Ryan Delk of Gumroad.com, I found out something incredible:
Based on the results of multiple uses of Pay What You Want, Ryan discovered that the top 1-3% of our audiences contribute way over the average — so much so that they often more than make up for those who contribute the minimum.
The interesting thing about Pay What You Want is that people fundamentally underestimate how engaged and excited the top 1 to 3% of their audience is about the things that they do...Ryan Delk, previously Head of Growth at Gumroad.com
I found this to be true in my case.
When I released "Notes From Seth Godin's Revolution Conference," the majority of tips I received came from the top 3% of my audience who contributed $50 to $100 per download.
3. It inspires generosity
Contrary to popular belief, people are not self-serving by nature.
The title from a Harvard Business Review article says it best:
When the rule is 'Pay What You Want,' almost everyone pays something.Harvard Business Review
The study goes on to explain that 95.95% of customers contribute money when paying is optional.
The question is…how MUCH do those 95.95% actually contribute.
Matt Homann of LexThink is a consultant for lawyers, accountants and large corporations like Microsoft.
He switched from fixed price invoicing to what he calls You Decide Invoicing.
Here’s what he had to say about his results:
"Since I’ve been doing this, my sense of the value I give my clients has increased. I’ve recognized that my clients don’t care about the time I spend working for them, but rather the results they get from working with me. Quantitatively, my income has doubled in the past year, because clients pay me more on my blank invoices than I would have charged them. I’ve also increased my per-engagement price (when I’m asked to give one). I know charge roughly three times what I would have quoted before my pricing experiment began.”Matt Homann
Ready to sell more generously?
Get "The Complete Guide to Pay What You Want Pricing" today. Contribute more than the minimum and get additional bonuses, including video tutorials, expert interviews, and more: