Transparency AND flexibility...
What products did we quickly grow to love and why?
Southwest Airlines (online transparency and logic). They made their pricing transparent and easy to understand. If a round trip flight was $200, then the one way flight was…drum roll please…$100. That was the beginning of being transparent. Anyone could see and understand the pricing, and because it made sense it also built TRUST. As the online Guest became increasingly savvy they understood the necessity of charging more at different times of the day. So Southwest showed us the price ‘per flight / leg’ and we were able to satisfy all the questions swirling in our heads…what if I leave earlier or later…what is the price difference? With this transparent information, I could decide.
What does this have to do with pricing streaming assets?
Streaming video is often offered in 24 hour increments (in addition to subscription, PPV etc). Why? Everyone tends to sleep some portion of the day, so why not offer content in 8 hour increments? One's typical day is generically broken out into 1) home 2) work 3) sleep. This way one can enjoy these assets as one chooses, and not feel like they are wasting 8 hours of their 24 hour access by sleeping.
When I consider the 24 hour plan, I always feel like this really isn’t what I need. What I need is variety and choice. I would consider splicing it even further so that the Guest can choose what they want…and more importantly…price it like Southwest did above. For example, if 24 hours = $24…then 8 hours should = $8.
Why is this important? Builds trust…just like what Southwest Airlines did above. This makes sense, and that’s the first step to showing your online Guest that you are thinking of them and their interests