Identity Verified Thinker in Business / E-Commerce
Richard Reisman
Richard Reisman
I have been working on advancing new services for people across the broad field of connectivity since long before the Web –- powerful interactive tools and media for human communication, collaboration, knowledge work, commerce, and entertainment. Teleshuttle is the company I develop my work through.
 
Apr. 13, 2017 12:54 pm
At the heart of the Subscription Economy is the idea that customers are happier subscribing to the outcomes they want, when they want them, rather than purchasing a product with the burden of ownership . ...Nicely put by Zuora , the SaaS platform company that drives many of the largest subscription services. They have popularized the term " subscription economy ," and recently created a ...  Read More
Mar. 30, 2017 3:28 pm
Adrian Payne -- one of the foremost authorities on Relationship Marketing and CRM -- wrote a Foreword to my new book that serves as an excellent overview. Adrian is author of fourteen books, including the first text to be published on Relationship Marketing (1993), and most recently, Strategic Customer Management: Integrating Relationship Marketing and CRM (2013). He is Professor of...  Read More
Mar. 7, 2017 2:35 pm
"There is broad consensus...that a pricing orientation based on customer value and customer willingness-to-pay is best and can positively influence pricing power and firm performance ." -- Journal of Revenue and Pricing Management FairPay is a new way to do value-based pricing -- in which prices are set based on the actual value realized by each individual consumer -- with a fair share of...  Read More
Feb. 7, 2017 3:34 pm
"We are, in the simplest terms, a subscription-first business," said The New York Times in its 2020 Report -- an admirable examination and re-dedication to its premier journalism. But what is missing in this picture? In an age where businesses of all kinds are realizing that their path to success is to go beyond "customer-centric" to become "customer first," is the Times thinking about becoming...  Read More
Jan. 24, 2017 1:39 pm
Are publishers in a zero-sum pricing game with their readers -- a game of psyching them out? Or is a win-win game of cooperation on value exchange with their best current and potential customers a better way to make journalism sustainable? With doubts as to the future of advertising support, this question of how best to motivate direct reader payments is central to the future of journalism. ...  Read More
Jan. 17, 2017 5:38 pm
Finding good customers is the essential to success for all businesses. It is especially important in early uses of the new FairPay business strategy that builds cooperative "customer first" relationships. Almost everyone who hears about FairPay sees its appeal -- but they also see that, because this relationship-centered strategy seems unconventional, it may not be not suitable for all customers...  Read More
Nov. 15, 2016 1:04 pm
FairPay literally changes the "game" of commerce -- from a series of independent one-time games of individual transactions, to a repeated game of relationship. Modern consumer commerce is built on seller-set pricing of transactions that is optimized for mass marketing to make sales in the short term. (Even recurring subscriptions have pre-set prices designed to get subscribers, not keep them.)...  Read More
Oct. 14, 2016 1:02 pm
" The Definitive Guide to Cord-Cutting in 2016, Based on Your Habits ," by Brian X. Chen of the Times, notes that: Every quarter for the last few years, hundreds of thousands of American households have put an end to their TV subscriptions, fed up with the costs of cable subscriptions, channels they never watch and the annoying commercials. But he writes this guide because: What we found was...  Read More
Sep. 20, 2016 12:14 pm
My book on FairPay was just published . It is part of a series on Service Systems and Innovations in Business and Society , curated by Jim Spohrer and Haluk Demirkan of The International Society of Service Innovation Professionals ( ISSIP ), and published by Business Expert Press (BEP). Some extracts from early praise ( as cited on the book page): Anyone responsible for monetizing...  Read More
Sep. 8, 2016 10:25 am
The Elements of Value , a new HBR article from Bain consultants, provides an excellent structure for measuring value in consumer markets. FairPay provides an adaptive process for managing customer journeys that center on value. These ideas can be applied in combination to drive loyalty loops around value, in order to increase Customer Lifetime Value. Some interesting quotes from the article: ...  Read More
Nov. 5, 2013 10:17 am
As a follow up to my post on Jeff Bezos and The Washington Post , I turn to another exciting entry into journalism by a top-tier e-commerce innovator with very deep pockets, and how the new FairPay business model can work for that adventure as well. Pierre Omidyar, billionaire founder of eBay, also considered buying The Washington Post, but revealed in his blog that he decided instead to...  Read More
May 30, 2013 4:03 pm
BitTorrent has introduced " Torrent Bundles " a new "relationship based"content superdistribution bundle.  This is a move very much aligned with the relationship-oriented monetization strategies of FairPay. Both exploit free and gated offers, and both go beyond freemium by doing it in a way that is relies deeply on partnerships with artists and other creators/producers of content.  Torrent...  Read More
Nov. 27, 2012 11:06 am
In the quest to introduce a new way to think about commerce and transform our economy, I am considering a new name that might better capture the heart of the idea that I have been calling "FairPay." That new name is "Value2Me" -- suggestive of the core pricing issue facing the consumer: What is the value to me? (and why?) Does anything else really matter? The Value2Me process builds on the...  Read More
Sep. 24, 2012 5:54 pm
(This was published earlier today as a contributed post on Media Magazine's Future of Media blog ) --------------------- Facebook lost half its market cap because of doubts about the viability of ads as the world goes mobile. Advertising has its place, where it is non-intrusive, and when it provides valued information relevant to my current context. But that is unlikely to fully pay for the...  Read More
Jul. 23, 2012 3:00 pm
The current hot debate in the blogosphere on free versus paid really points to the failure of our current models.  Dalton Caldwell's " Announcing an audacious Proposal ," is an eloquent cry for services that serve their users, not advertisers.  Fred Wilson has countered with " In Defense of Free ," which champions the value of a mass audience that seems only reachable by free and freemium.  And...  Read More
Mar. 21, 2012 11:40 am
" Creating Shared Value ," the influential 2011 HBR article by Michael Porter and Mark Kramer, points to the need to reinvent capitalism with broader ideas about value creation that will unleash a wave of innovation and growth. They propose that "creating shared value represents a broader conception of Adam Smith's invisible hand." I suggest that the FairPay revenue model provides a new market...  Read More
Feb. 9, 2012 3:02 pm
Nobel Prize in Economics winner Daniel Kahneman's new book, " Thinking Fast and Slow ," presents a wide range of insights into how we think and make choices. These insights--mostly established in the past few decades--form the groundwork for the new field of behavioral economics. Much of this is highly relevant to the radically new FairPay process and how it can shape a new economics to enhance...  Read More
Jan. 17, 2012 6:19 pm
Sabers are rattling this week with the consideration of draconian measures to stop Internet piracy of copyrighted materials. The FairPay model for monetizing content puts this issue into interesting perspective. It suggests the way to end piracy is not to reduce the supply, but to reduce the demand. Basic objectives: First, let's get back to basics. What is the real objective here? ...  Read More
Jan. 9, 2012 10:42 pm
An interesting NYTimes report by Nick Bilton talks about the Uber online service for ordering a car service, and how the workings of supply and demand can seriously disrupt customer relationships. The issue was a "surge pricing" feature that raised the cost of a ride to a New Years party, which cost $27 to get there, to make the ride home cost $135. Bilton nicely summarizes the issues in dynamic...  Read More
Dec. 28, 2011 5:01 pm
Robert Levine's "Free Ride" is an important study, but a partisan one, as you can judge from its subtitle: "How Digital Parasites are Destroying the Culture Business, and How the Culture Business Can Fight Back." It explains that competing interests are at war, old business models for creator's and seller's rights have been disrupted, and new business models are needed. However, it is unable to...  Read More
Dec. 19, 2011 12:06 pm
I commented at NYTimes.com on Tom Friedman's 12/18 column that suggested the emergence of a new level of democracy in many domains, in which consumers are gaining more equal power with organizations of all kinds. We are only at the beginning stages of this (as Friedman quotes Dov Seidman): "when people are creating a lot of ‘freedom from’ things — freedom from oppression or whatever system is...  Read More
Nov. 21, 2011 10:18 am
Zuora is a hot new company, an offshoot of Salesforce.com, that is focused on what they call "The Subscription Economy." This is very much in tune with the ideas about FairPay that I am developing, and I recently had a very nice chat with their regional account executive. He invited me to a very informal dinner he had been planning for some local customers and prospects, with the idea that they...  Read More
Nov. 18, 2011 4:36 pm
" Better Strategies for Monetizing Digital Offerings:  Thinking Out of the Box while Looking across Industry Silos ." That is the theme of the session that I am helping to organize, and will be a panelist at.  The full slate is: Moderator: - Dr. Howard Morgan, Co-Founder and Partner, First Round Capital Speakers: - Betsy Morgan, President, TheBlaze.com - Shawn...  Read More
Nov. 18, 2011 4:34 pm
"FairPay's concept is fairly simple, but intriguingly powerful."  That comes from a very nice overview of FairPay and its potential value by John Blossom, President of Shore Communications, an award-winniing strategy and marketing consultant to content providers, on his  ContentBlogger   blog. John begins with the amusing story of an early step toward FairPay in the classic "Our Gang"...  Read More
Oct. 11, 2011 10:35 am
I am very pleased to report that  ennovent  has become the first commercial venture to undertake use of the FairPay pricing system, a radically new approach to pricing digital offerings (see sidebar). Ennovent began the public soft launch of its Global Network today, September 14.  Peter Scheuch, ennovent's managing director, contacted me in June saying "...we think that the FairPay model could...  Read More
Aug. 29, 2011 2:26 pm
Imagine a market Nirvana for digital offerings. Think beyond the traditional value exchange processes and protocols and re-envision how buyers and sellers might interact in a world with a networked marketplace . I suggest FairPay offers the path to that market Nirvana, and that it is now very practical. Here is an overview (based on the recent rework of the FairPay home page ). First let us...  Read More
Aug. 22, 2011 4:38 pm
I have recently been working with a startup company that is working toward introducing FairPay pricing for their new service (details on that to follow).  That collaboration has led me to some interesting ideas on how you can best phase FairPay in, to get some basic functions at low cost -- and to learn a great deal about your market, so you can better manage your investment and your risk -- and...  Read More
Aug. 11, 2011 9:54 am
For those that think there is no real money in Pay What You Want (PWYW) pricing, the growing success of the Humble Indie Bundle suggests otherwise. Their first four promotions have raised over $6.1MM, with the last one just ending at $2.2MM.  It has been reported that the venture behind these offers has raised $4.7MM in VC funding. Their model includes payments to the game developers, the...  Read More
Jul. 30, 2011 3:55 pm
Having recently heard a fundraising pitch by indie music distributor Nogeno, and looked at competitors like Bandcamp, I was again struck by the potential of FairPay pricing to change the game -- for the music business and/or the game business. Both music and games are dominated by the Apple iTunes Store, which disrupted the old distribution models. But there are many chinks in iTunes' armor --...  Read More
Jul. 24, 2011 11:01 pm
One of the common concerns sellers have about buyer-set FairPay pricing is that they will lose control and predictability in their pricing and revenue.  I suggest this is actually much less of a problem than it might seem, in spite of the buyer freedom to "pay what you think fair."  There are a number of aspects to this issue, but one especially powerful strategy deserves greater attention. In...  Read More
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