Penguin experiments with freemium
We live in an age where products are regularly available for free – legal or illegal – and companies are facing an uphill battle to monetise.
Now book publisher Penguin are now following advice from Nicholas Lovell’s ‘The Curve’ which suggests businesses should seize this ‘free’ movement to extend its fan base.
The concept known as ‘the curve’ argues companies should offer a range of services from the free to expensive in order to give their followers what they really want at different price points.
It tailors to everyone from freeloaders through to the most dedicated of fans.
Offering 11 different formats
Penguin have released an official video, shown right, explaining the concept.
The publisher is trying the scheme in conjunction with the release of Lovell’s new book and offering 11 different formats for readers to indulge.
This includes 3 multimedia products, including a video, infographic and e-book for free.
The book will also be available in the three traditional formats of hardback, paperback and e-book.
In conjunction with the release, Penguin are also hosting consulting sessions and a Curve masterclass which ranges in price from £300 to £10,000.
3D printing has changed business
Speaking with Tech City News, Richard Lennon from Penguin told us they created a publishing campaign that reflected the book.
“Content businesses have been dealing with the impact of free for years, but with the advancement of 3D printing, everyone will be looking for solutions to this problem.”
“The ethos of the Curve is that business of the future will need to use free to attract fans, use technology to keep in touch with those fans and discover what matters to them, and then allow them to spend as much as they are willing to on the things that they truly value.”
Unusually, the free e-book released is not a serial of Lovell’s book, but a completely stand alone edition.
Ideas expressed in the e-book are similar to those found in the full edition with the hope readers will be tempted to buy the book.
To find out more information visit ‘The Curve’ website.
Image Credit: flickr/megantrace