The band Radiohead's offered a well-publicized "pay what you want" pricing strategy for individuals downloading their new album. Paste Magazine's made a limited time offer for new subscribers to do so at whatever amount they wish to pay. Many museums have long had "suggested donations" for admission.
What if associations offered "pay what you can" opportunities for a professional development program ... conference, webinar, or other initiative?
Such an approach might most effectively be used when:
- You want to attract a specific audience to an event they otherwise probably would not attend. While younger professionals might immediately come to mind, this really could be any desirable but under-represented audience for a specific program.
- You're offering a new program and are unsure of the level of interest it might generate. Make it easy for people to say yes to your experiment when the value proposition is a bit uncertain.
- You're locked into a conference or webinar that is struggling to attract a critical mass.
To minimize your financial exposure you could place a few limits on your offer:
- Art groups often use the offer during previews vs. the main run.
- Cap the number of pay what you can registrations.
- Specify use by only individuals who haven't previously registered for a similar event so you aren't cannibalizing your core audience.
Note: Wednesday What If is a weekly feature applying the "what if" mindset associated with abductive reasoning or logic in an effort to stretch our thinking about what is desirable and very frequently, quite doable.