Pastor's Piggy bank, book budgeting, or "Getting the lowest pre-pub price, and a payment plan"

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Dan Pritchett | Forum Activity | Posted: Fri, Feb 8 2013 7:24 PM

Pre-pubs are designed to give the biggest discount possible in exchange for payment on delivery, but what happens when you can't afford it?  Well, you're basically left with two unattractive options. You can either put the full amount on a credit card and deal with the fallout from that, or pay a lot more at the higher price so you can get it on a payment plan. We realize both options are pretty lame.

We want to change all that and make it easy to get what you need at a payment you can afford. We can't simply offer payment plans on Pre-pubs once they ship, because if we did, every successive Pre-pub we shipped would dramatically reduce our ability to invest in new titles, and the entire program would slow to a snail's pace. For example, if every Pre-pub cost $10,000 to produce, and we got $10,000 in sales we could invest that same $10,000 into a new Pre-pub every time we shipped another one. That same $10,000 would just keep being reinvested and recaptured over and over. If we offered payment plans on that $10,000 investment when it shipped, taken to the extreme, it would take us a full year to recapture that full $10,000 in order to invest it into a new title. Multiply that out by the number of titles we offer and you can see how dramatically that would impact our ability to keep serving you with the titles you want and need.

We think we have a solution, I like to call it the "Pastor's Piggy Bank".  (Apparently I am the only one that likes to call it that, and I'm not sure why... it sounds cool to me... but more conservative heads may prevail and I may be persuaded to change the name...)

...anyway the idea is to create a "subscription" that will charge your credit card each month for a fixed amount of your choosing. Since you are paying in advance, there are no payment plan fees at all, and you can build up a credit balance to be ready to spend on anything you want, even a Pre-pub.

So the big win is delivering a way for you to get the discounted price on massive Pre-pubs like the new Baker Academic Biblical Studies Bundle (86 vols.) http://www.logos.com/product/24042/baker-academic-biblical-studies-bundle by using the credit balance from your piggy bank, and not missing out on the lowest price. In addition, pastors and others on monthly book budgets can charge a fixed amount every month automatically and make sure they are maximizing their book budget even if their favorite Pre-pub isn't ready to ship.

This can also be a useful tool for shopaholics, that want to limit their Logos spending, to be accountable to their goals. Determine the annual Logos budget, set up the monthly charge and it will be there when you need it. It also works if you don't buy much from Logos but when you do, you don't want to pay all at once and you don't like payment plan fees.

Well, that's a rough overview of what we are planning, but we'd love to hear your thoughts on the idea before we finish designing and implementing it.

What do you think? Ideas?

What would you use it for? Is it a good idea? Bad idea? What problems would it solve? What problems would it create? What would you do with it?... 

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Denise | Forum Activity | Replied: Fri, Feb 8 2013 8:16 PM

Great idea!! And I like the name. And yes, I'm the shopoholic you mentioned. This will be really useful!  Of course it's my spouse that will really like it (family budget).

"God will save his fallen angels and their broken wings He'll mend."

Posts 270
Kelvin Niblett | Forum Activity | Replied: Fri, Feb 8 2013 8:48 PM

I really like this idea!

 

One of the other things I would really like from Logos is a way to buy and recieve credit.

 

For example my parents may want to give me something for Christmas/Birthday.

If I could tell them a voucher or a credit for my Logos account that would be Awesome!!

 

This would provide a natural increase in sales for Logos too as people can gift credit to loved ones who may not be big buyers.

 

Just an idea

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Keep Smiling 4 Jesus :) | Forum Activity | Replied: Fri, Feb 8 2013 9:18 PM

Dan Pritchett:
What do you think? Ideas?

Understanding cash flow variations and seasonal giving, would like an option for one time "credit" purchases.

Another idea is allowing those with a monthly payment plan to increase monthly amount so plan pays off sooner, with option to continue subscription to increase credit balance.  Self service option in Logos.com account to change monthly plan payment amount would be appreciated.

Keep Smiling Smile

Posts 2086
Randy W. Sims | Forum Activity | Replied: Fri, Feb 8 2013 9:58 PM

I like the direction you're going in with this, but I think it needs to be dressed up a bit more to get people on board. I still like the book club pattern. It offers two hooks to get people signed up: 1) it's a club, a membership-a natural draw for shopaholics and collectors; 2) incentives, small discounts "for members only" to make people feel like they are getting something more immediate and tangible from the membership. The incentives don't have to be much, just a little carrot to get people on board, 10-20 books a month at 10-20% off (a couple great books, a few mediocre books, and fill it out with some lesser selling works-especially PD & Lexham where you can probably afford the discounts more readily). Or maybe offer most pre-pubs at a different discount to members. You could even do a tiered plan: invest up to $50/mo and get 5-10%, $50-100/mo and get 10-15%, over $100/mo up to %25 on select offerings.

I do like the general ideal. It will help people (especially me) to be more responsible in spending: build up the bank and pay in full rather than put it on credit and spend the next 18 mos paying. One question that comes to mind though is what happens if something goes bad and people want to "cash out"? Are there any guarantees on the money put in the bank?

It's a great idea. FWIW, I do think it needs just a little dressing up to maximize interest.

Posts 2038
Unix | Forum Activity | Replied: Sat, Feb 9 2013 2:43 AM

The Church would not be able to say if a particular purchase the pastor is about to do is OK:

Dan Pritchett:
What problems would it create?

 


Yeah, I'm no pastor nor studying to become one, but I would have little use for that. The only use I could think of would be IN CASE I want to close my desk phone line for more than a year at a time and meanwhile use that piggy-bank for making purchases online. Currently each time I need to make a payment I have to call my rep and he diverts me to accounting. All banks in Sweden and Finland require additional security in form of the CVV2-code when making purchases in other currencies. But it's not annoying to call, it's exiting. So I prefer to call:

Dan Pritchett:
What would you do with it?...

Aply!
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Posts 270
Kelvin Niblett | Forum Activity | Replied: Sat, Feb 9 2013 3:05 AM

Unix clicked your link on the tagline of your profile.

 

Are you aware that this link is full of PORN!

 

Mate you may be celibate but get rid of that filth for our sake

 

 

Posts 20
GMCI | Forum Activity | Replied: Sat, Feb 9 2013 3:13 AM

Good idea.

Posts 2038
Unix | Forum Activity | Replied: Sat, Feb 9 2013 3:14 AM

No it's not full of. My image comes first. I wasn't aware. It's a free image upload server not advertised as to be used for porn - those who have uploaded those/that recent porn images have been violating the terms and I'll report them:

Kelvin Niblett:
full of

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Lynden Williams | Forum Activity | Replied: Sat, Feb 9 2013 3:18 AM

Deleted. Sent you a message on Faithlife.

Lynden Williams Communications https://www.lyndenwilliams.net 

Posts 2038
Unix | Forum Activity | Replied: Sat, Feb 9 2013 4:09 AM

In case You meant me there hasn't come any message to me on Faithlife.
I want to use local image servers. It's quite hard to move the image to my domain now: first my parents (probably my dad since my mom is probably prioritizing getting a tooth) would need to pay me a lawyer. The lawyer could get me my FTP password. The previous owner of the domain has stolen and refuses to give me access. I have receipt and witness of the purchase of the domain. (Without the domain it's also nearly impossible/more expensive for me run my proprietary firm.) I also risk loosing my (only) email address if I don't get back the website. All I currently have is email.

I don't have internet and I don't have time nor any motivation to look for an abroad free image server which is free of advertisement banners (I don't want ads, I don't have antivirus nor internet, I just have a laptop) or unrelated images.

Clarification: The annoying images are not uploaded by me, they are occasional thumbnails below my image.

Lynden Williams:
Sent you a message on Faithlife.

Aply!
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Lynden Williams | Forum Activity | Replied: Sat, Feb 9 2013 4:23 AM

Edit the signature in your Logos account.

Lynden Williams Communications https://www.lyndenwilliams.net 

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David Carter | Forum Activity | Replied: Sat, Feb 9 2013 4:39 AM

Unix living in celibacy:

 

Clarification: The annoying images are not uploaded by me, they are occasional thumbnails below my image.

Lynden Williams:
Sent you a message on Faithlife.

I've not heard porn referred to as "annoying images" before. Why don't you use something like blogger or squidoo instead? Your sig - or more to the point where it leads to - has no place in this forum

 

Posts 48
GS | Forum Activity | Replied: Sat, Feb 9 2013 4:49 AM

I suppose if individuals would rather Logos earn interest on their money rather than earn interest on their own savings it's a great idea.  But one wonders if it's good stewardship.  Also, it raises the question of why there's no monthly charge associated with the "piggy bank" when Logos charges $5/month for its payment plans?  Isn't the same "processing" involved in both?  In my eye this proposal just highlights the excessive charges associated with the standard payment plans.  One would be better off using a credit card.  Bottom-line: save up your own money and spend wisely.

Posts 2279
Andy | Forum Activity | Replied: Sat, Feb 9 2013 4:58 AM

Unix living in celibacy:
I want to use local image servers.

Unix, as suggested by Lynden, it would be very helpful if you could remove the link from your signature until you have resolved the issues with your domain. This will prevent people from unwittingly accessing the inappropriate content.

Blessings 

Posts 2279
Andy | Forum Activity | Replied: Sat, Feb 9 2013 5:03 AM

Dan Pritchett:
We think we have a solution, I like to call it the "Pastor's Piggy Bank". 

Personally, I think this is an excellent idea and can imagine that I would take advantage of such an arrangement. 

I imagine that I would use it to save up credit to help with some of the big ticket items that come through the prepublication programme. 

Kelvin Niblett:
One of the other things I would really like from Logos is a way to buy and recieve credit.

Yes

Posts 2038
Unix | Forum Activity | Replied: Sat, Feb 9 2013 5:13 AM

I just paid Logos $739.54 yesterday. Now, in what way am I obliged to pay, in addition to that, for multiple image hosting servers and websites just to keep one important image uploaded?

Next week I have 2 Science tests, I really don't have time to move the image somewhere right now - just like I started to explain. I don't have time to discuss this topic - so get back to the OP topic please!

 


Regarding my domain, You can't tell my parents to pay a lawyer:

Andy Evans:
t would be very helpful if you could remove the link from your signature until you have resolved the issues with your domain.

Aply!
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Lynden Williams | Forum Activity | Replied: Sat, Feb 9 2013 5:16 AM

Thanks Unix.

Lynden Williams Communications https://www.lyndenwilliams.net 

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fgh | Forum Activity | Replied: Sat, Feb 9 2013 6:36 AM

Unix living in celibacy:
Currently each time I need to make a payment I have to call my rep and he diverts me to accounting. All banks in Sweden and Finland require additional security in form of the CVV2-code when making purchases in other currencies.

Nonsense. I've bought from Logos for 2.5 years, with cards from two different Swedish banks, and never made a phone call. It works just fine -- except that once every 30-40 purchases or so I have to e-mail them and ask them to do a second attempt. The code isn't necessary when the banks 'speak' directly to each other over the internet, which they normally do. It's only necessary when Logos processes so many orders at the same time that my order happens to end up in a queue. Then, not getting that direct connection, my bank asks for the code instead, and not getting that, they deny the withdrawal. But that's only happened 3 times or so, and all it takes to fix it is for Logos to try again at a less busy hour.

"The Christian way of life isn't so much an assignment to be performed, as a gift to be received."  Wilfrid Stinissen

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Denise | Forum Activity | Replied: Sat, Feb 9 2013 7:01 AM

OK ... back to Dan & Co again.

(1) The pastors and other Logos enthusiasts DO need an EASY way to receive gifts.  I'm not a pastor obviously, but when you want to do something nice, giving him a book is just not up there on his priorities (e.g. 'which' book).  A piggy bank is far more practical and likely appreciated.

(2) If indeed the Logos payment plan makes sense (our pastor friend from Mississippi has reservations), then a piggy-bank makes equal sense (one has  interest charges after; the other equates to interest before).

(3) If one sees value in subscriptions for unusual resources you'd never want to purchase, then a piggy-bank makes sense in the future. I use a pay-by-the-month cellular phone; pre-pay. It's far cheaper than their other plans (for us). So pre-pays are already 'out there'.

(4) If you make a quick check of your financial guidance by the early NT financial councilors, you'll notice clear instructions to 'save up' for important theological work.  (This last one is indeed true, though probably not relevant to this specific case!)

"God will save his fallen angels and their broken wings He'll mend."

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