Yesterday I looked at the headline numbers in our Pay-What-You-Want experiment. Today I will look deeper into how much people paid and reveal a couple of secrets.
How Much They Paid
Eleven copies of the PDF were sold. This is a breakdown of sales per price.
Obviously the £5 price mark was the most common but you may be wondering why we had two sales £6.03. These were payments in US Dollars received via different routes, both of which were for $10. As one was via Paypal, I decided to use its exchange rate for both sales, giving the £6.03. For more on where the second sale came from, see Secret Number Two below.
Whilst this graph is interesting, it does not tell the who story.
Secret Number One
Here is a breakdown of each sale and the amount paid.
Each sale (numbers 1 to 11 along the bottom) is displayed with the amount paid.
Each visitor to 6d6 RPG was presented with a text box to fill in for how much they wanted to pay. However, that box had a default value which the customer could either accept or type in a new value. Secret number one is that the default value changed.
There were three possible defaults: £1, £5 and £9 that were chosen randomly for each visitor. Cookies were used to ensure that the same visitor always saw the same default value.
The purpose to this was to see whether the default price had any impact on the actual amount paid. Do people pay more if you give them a higher default price?
This graph shows each sale with the amount they were prompted. Two customers (numbers 2 & 11) paid via different means so it is unknown what they were prompted. Unfortunately with only nine useful sales we did not collect enough data to give a meaningful answer. However I suspect that it does have some influence but I will leave you to draw your own conclusions from the data.
One interesting note about customer behaviour is with our minimum price.
Notice how only one person paid the minimum price. Two other people paid £2. I suspect that those people paying £2 did not want to be seen as cheap or miserly.
The other interesting note about the minimum price is that there wasn’t one. The system would let you pay £0 for the PDF which would of cost us money (the credit card processing fees are real) but no one tried it. Everyone appears to have assumed that the system would stop them.
Secret Number Two
The second secret in this experiment was the control – a baseline against which the results could be compared. To achieve this, I placed Mince Pies & Murder on RPGNow for $10.
Obviously, this was not publicised on the web site but I did run banner ads on RPGNow to ensure that the fixed price version got a reasonable amount of publicity. This generated around 250 visitors to the product page and resulted in one sale. This is sale number 11 on the graphs above.
What this demonstrates is that the PDF was good enough to sell for $10 (£6.03) in a non-experimental situation. To the buyer on RPGNow, this was just one other product amongst thousands on that web site.
The question the sale on RPGNow raises is what would of happened had I just sold the PDF for around £5 / $10 on 6d6 RPG?
Would I have made more or less sales? More importantly, would my gross revenue of increased even if I sold less actual copies?
My conclusions on PDF pricing will be out tomorrow.