Paygo just launched a Micropayments Paywall with Dan Rather
Creators can now monetize their audiences on any platform, at a price they set and a model they select. Plugin available for Publishers too.
Hi there,
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Today we launched the first step of our journey to make journalism profitable again. You can read more about it on Our Launch Post, Dan Rather’s Post or our Founder, Noam Bardin’s Post (or long video rant.) Since Publishers have been slow to experiment (hopefully more on that soon), we went directly to Newsletter writers like Dan Rather to start our journey. We will be updating our status and what we have learned from this process infrequently on this Newsletter and more frequently on our Twitter account @PaygoMedia, feel free to follow it.
Here’s where Paygo is now:
Readers - can access paywalled content without needing a subscription or sharing their personal details. The goal is to allow them access to diverse opinions and different Creators/Publishers - not just a subscribed silo. We need it to be inexpensive enough that they are able to use it often while still being significant for the Creator/Publisher who needs it to be profitable.
Reader Experience:
Creators (i.e. those who create content but don’t own the platform) - we offer a simple way to add a micropayment paywall to your content so you can share it on ANY social media or Newsletter platform for EVERYONE to access, but NOT FOR FREE. You set the price, the text on the paywall, the type of paywall and share it wherever you want. Our initial focus is on Twitter and monetizing your current following. This does not replace subscription - your most engaged and active readers should subscribe to your service. This is for the other 95% who won’t subscribe but still want to read your content. Think of this as part of your free Newsletter (adding premium, paid content there too), video, or other creations.
Creator Experience:
Publishers (i.e. those who create content on their own platform that they engineer) - I have spoken to many of you and the model is the same. Simple button to add to your paywall as a “keyhole” where Readers with a Paygo account and positive balance can seamlessly read a specific article without having to subscribe, yet! Your most engaged Readers should and will subscribe but the casual users, the 95% who are not subscribing, see what they are willing to pay for. You should check out this article on Why (and How) You Should Add Micropayments. Of course, the Paygo account works seamlessly across Creator posts or Publisher sites so the user can easily navigate the different content without signing up multiple times. You can see a demo site of what the plugin would look like at the Narnia Chronicle demo site.
You can also run a simple experiment by giving your social media team approval to use our tool. They can publish your best pieces on Twitter or on a free Newsletter from your account and at a price you set to dip your toes in micropayments without bothering with engineering. The tweets will look like the one below and the link will be to the paywalled version of the content.
Creators and Publishers, here are some ideas to think about:
Less free, more access. You can embed the paywalled posts into your free Substack or Newsletter so all users can see the premium content and only access it for a price. Like this:
An experiment to save Journalism [@DanRather]
Will you join me in an experiment that could save quality journalism around the world? It’s a big statement, I grant you, but it’s an urgent one. Without a vibrant, free, and independent press, democracy is in serious trouble. There is no... 280/3,722
Monetize you best content multiple ways - Paygo is a great way to Tweet out your premium content to your large non-subscribed Twitter audience. Let them see what they are missing for a small price.
Re-think your free strategy. Consumers do not value free. Instead of free or subscribed, minimize the free, and maximize the pay-as-you-go and subscription with your best content. Don’t give your best content away on a free trial, 3 free articles a month or any other option - make it available to subscribers and pay-as-you-go readers.
Paygo is great for monetizing long form and video. You can check out a video example here.
You control everything - it is constantly in your control to decide what to share via Paygo, how much to charge, whether that is a tip/donation/hard paywall/free, and which platforms to share on (hint - wherever you users are). Experiment and try different approaches to see how the cost benefit works out.
Different types of paywalls - just like not all content was made the same, not every paywall on Paygo is the same:
Free - no paywall, just distribute
Hard paywall - like a traditional paywall - Readers either pay or get no access.
Soft paywall - Readers have the option to tip/donate, change the default payment amount, or skip payment and just read it for free
Control - all paywalls are within your control - how much of the text do you want to expose for free? Where should the paywall sit? How much to charge? What to say? All of this is up to you.
So, thank you for reading thus far. Please feel free to reach out to us on thoughts@paygo.media or follow us at @PaygoMedia
Team Paygo