Price-sensitive readers have for years been looking for means to consume quality content without spending too much. With its ingrained virality, Social Currency solves this major pain point of readers and digital publishers. Social currency not only builds brands for publishers but it also involves the action of sharing content that can result to a reader’s increase in one’s sense of community, recognition, and status.
The article below from Springwise details a bright paywall strategy for publishers to revolutionize the digital publishing economy by trying out a more flexible paywall to enhance the relationship between readers and publishers. Similar to previously launched Pay With a Tweet, Hamburg-based company, PayOrShare, was built so publishers and content creators could market their content by giving readers a choice between paying monetarily or for the price of a social post.
Instead of caging readership opportunities by adopting a single payment mode, PayOrShare lets digital publications earn that money from social buzz. This model allows for new monetization options and provides readers with additional value. And we are convinced that selling digital content in exchange for social share will be a viable marketing channel for publishers further down the road.
In the world of digital publishing, social media shares have a direct effect on readership figures and advertising potential. So much so that ‘social currency’ can be just as valuable to a site as plain, old fashioned money — We have already seen Sharewall enabling readers to unlock premium content on a share-one-read-one basis. Now, PayOrShare, from Germany, is providing an even more flexible platform. Customers are able to read the digital material first and then choose what currency to pay with — a post on their chosen social network or a small amount of money.
Businesses can use PayOrShare’s platform to monetize their digital content — whether that be an eCommerce store promoting coupons, a publisher promoting premium content or an entertainment company sharing videos. The platform builds on Sharewall’s format by acknowledging that some consumers may prefer to spend a little money than share content, and it has taken care not to isolate those users. By letting consumers choose how they want to pay on a case-by-case basis, businesses can benefit from increased traffic and an increase in monetary income. The system also generates useful data, through which businesses can analyze the strengths of their campaign.
PayOrShare can be integrated into an existing site in less than 30 minutes, and the team, based in Hamburg, can create custom solutions for different business models.
Read full article (Flexible Paywall Lets Readers Choose How They Pay) from Springwise, here.