Community Pricing Data Crunching - Price Predictions!

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Bruce Dunning | Forum Activity | Replied: Wed, Jan 1 2014 3:54 PM

Mark Barnes:
There are two ways to bid on a CP title. You can either click on the graph, or you can click on the "Bid Now" button:

Thanks Mark. I think I understand your point now. I actually never use the "Bid Now" button so it wasn't in my mind.

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Mathew Haferkamp | Forum Activity | Replied: Wed, Jan 1 2014 9:19 PM

Thanks Bob for the analysis, here's an idea that might help.  What if you were to put together a 500 volume mega pack on community pricing?  Using complete collections that you have already on cp but put them at a $1.00-$1.50 a volume only bid. And see if their would be enough interest to put them over, and still leaving them on cp as they already are now.  From what I can tell their would be no need for dynamic pricing, and you can set it up as an all or nothing (if you set the bid as if it were fixed at so much per volume).   

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Randy Lane | Forum Activity | Replied: Wed, Jan 1 2014 11:03 PM
An interesting BI analysis/report/graph would be time from start to success (perhaps in weeks) on one axis and price (perhaps in $20 increments) on another axis.
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NB.Mick | Forum Activity | Replied: Thu, Jan 2 2014 1:46 AM

Bob,

I sometimes think about a possible enhancement to PB:

Priority Bids

Those bids would be offered at a higher price point than the currently listed one, and by priority bidding, users would show their willingness to pay exactly what they bid (even if the PB price later is much less).

Such priority bidding should not replace the current PB function, but be optional (visualized e.g. with a golden prize bar). This wouldn't kill the usual fun element of bringing the price down and enjoying last-minute reductions, but it would of course increase the pool of money needed to cross the 100% line (maybe in visualization this line would be pulled down? Or just have it reflected in the bidders' upward curve). 

As an incentive for priority bidding, I'd envision that these titles really are treated with priority, i.e. put at the top of the production line and shipped really fast. 

Example in case: Lewis and Short

Several people expressed their view that even at maximum bidding price (I think it's $38) this resource is a steal. There have been numerous "marketing posts" on the forum, blog posts and all. I believe that with Priority Bidding in place, this surely would have crossed the line long ago. 

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Bob Pritchett | Forum Activity | Replied: Thu, Jan 2 2014 8:34 AM

Mathew Haferkamp:
What if you were to put together a 500 volume mega pack on community pricing?

This is a really interesting idea, and I've actually played around with it. The problem is that we have a lot of production costs in these CP titles. I just grabbed a sample -- all the titles presently between 50-70% on the progress meter. (So, not including books with low interest, and not including those already close to covering costs.)

The total costs for these titles are more than all the revenue the 'Mega Pack' did at Christmas -- and if every Mega Pack purchaser bought this CP bundle, we'd still have to charge $275 / customer, and it would be a lot less than 500 titles. (And, of course, it would be profit-less -- the funds would all go to development.)

I do love the idea of bigger bundles and lower cost, spread over many users. And the larger our customer base gets, the more we can do that. (CP is making a lot of titles available at amazingly low prices.) But we're not there yet...though I'll keep trying!

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Butters | Forum Activity | Replied: Thu, Jan 2 2014 9:20 AM

Bob Pritchett:

I've already bid the highest I can bid, $38 - is there any chance we can bid higher?  Or is the range set by current bids?

I've just raised my bid to $40.  

The truth is, I'd pay 100s of $ for either resource.  lol.  

~Butters Smile

“To love means loving the unlovable.  To forgive means pardoning the unpardonable.  Faith means believing the unbelievable.  Hope means hoping when everything seems hopeless.” ~Chesterton

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Butters | Forum Activity | Replied: Thu, Jan 2 2014 9:23 AM

NB.Mick:
Priority Bids

THAT ^ is a really good idea sir.  

~Butters Smile

“To love means loving the unlovable.  To forgive means pardoning the unpardonable.  Faith means believing the unbelievable.  Hope means hoping when everything seems hopeless.” ~Chesterton

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Butters | Forum Activity | Replied: Thu, Jan 2 2014 9:33 AM

Mark Barnes:
Another idea would be to modify the text that says "Your bid is likely to be successful" so that when the curve growth is below expectations it says, "Your bid is likely to be successful, but increasing your bid should help to speed up production."


That is an excellent idea - unless I'm misunderstanding something, it seems to me that the more information we have about where things are, the better off we'd all be in this effort.  

“To love means loving the unlovable.  To forgive means pardoning the unpardonable.  Faith means believing the unbelievable.  Hope means hoping when everything seems hopeless.” ~Chesterton

Posts 38
Scott | Forum Activity | Replied: Thu, Jan 2 2014 10:15 AM

I've been using Logos/Verbum for 2 years and this is the first time I've understood the community pricing system that is described above.  I would have been happy to bid above some of the bid prices that I thought were the suggested bid price.  I evidently misinterpreted the message, but if I did I'm sure a lot of others did as well. 

I think it would be a "win/win" if Logos would update their display and send out an email of what the bid would have to be to get these products to production.

Scott

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Kevin A Lewis | Forum Activity | Replied: Fri, Jan 3 2014 3:42 AM

I agree with Scott - with one exception having read the thread I STILL don't understand how this works - I'm not that dense either - it just seems designed to be unclear.

I like Cost $2000 = 200 punters bidding $10 or more - result - production entered

or Cost $2000 = 100 punters binding $15 or more - result - display of 75% funded!

or am I just dense and I should get used to it!

By the way I like the basic idea - just don't understand the specifics or the display

Shalom Kevin

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