Libboo Introduces “Pay-What-You-Want” Model
Libboo, an “advocacy marketing” platform for authors, is lowering price resistance in order to drive wide usage and prove its value to the market. The early-stage startup is introducing a Pay-What-You-Want (PWYW) Model for a limited time. As the name suggests, authors choose their own subscription price.
“Authors are struggling to be heard above the noise,” said Chris Howard, Founder and CEO of Libboo. “We offer what’s probably the most compelling solution out there, but it’s sometimes difficult to see the value of something that’s a first-of-its-kind technology unless you’ve experienced it for yourself.”
Libboo’s “advocacy marketing” platform empowers authors with real-time behavioral data and analytics about their books and their readers. For the first time, authors can identify their most influential advocates and cultivate direct relationships with them.
Jana McBurney-Lin has been a participating author on the Libboo platform since March, 2013. She joined on the recommendation of a friend, even though she was skeptical of “yet another Internet helper.” She notes that, “Libboo has been different. I’m still not sure how it all works, but Libboo gets the word out, and my books have been selling in greater numbers than ever. In return, all Libboo asks is what I believe to be reasonable compensation. It’s an incredibly fair way to deal with authors who are artists first, business people second.”
Some companies have tried the PWYW model, but Libboo’s approach is different in a couple of ways:
1. It’s a limited time offer. Libboo’s intent is to run this program through the end of the year to assess price tolerances. Once the “experiment” is complete, they will set a uniform monthly subscription price for all users.
2. Today’s prices are permanent. To reward early adopters, Libboo is allowing those who join now to keep their price forever.
“We’re trying to live what we preach here at Libboo,” said Michael Boezi, Vice President/Minister of Strategy. “We’ve created a remarkable product, and now we’re offering it at a remarkable price. Authors will tell other authors—they’ll carry our message way better than we ever could. That’s advocacy marketing in a nutshell.”
For more details about Libboo’s “Pay-What-You-Want” Experiment: http://bit.ly/libboo-pwyw.
To sign up and get started (for authors): http://libboo.com/submit.
Libboo came out of the prestigious TechStars program, the #1 startup accelerator in the world. Libboo’s mission is to solve the timeless problem of talent getting lost in crowded spaces and aims to help all talented authors—published or independent—be discovered by the audiences they deserve. The company’s partners and supporters range from the National Literacy Trust to a number of the world’s largest publishers. For more information, visit http://libboo.com.