Pay What You Want (PWYW) is a payment model where you, the client, decide how much your experience is worth. If you are happy, contribute a little more, iff you are not, pay less. A marginal contribution is often set, but ultimately, the client has the freedom to decide what their marketing experience has been worth at that snapshot in time.
What is PWYW?
The PWYW system has been used successfully across many industries in the recent past. Certainly there are challenges in deploying this model in a traditional, multi-disciplinary marketing agency. Then there is Geofence.PQ, the first specialist geofencing marketing agency in the world to introduce this model as an option for our clients. It lays the groundwork for a true 'win win' experience and minimizes risk as you seek to enter additional marketing channels.
WHY?
Giving clients the ability to decide what they pay feels like jumping into the deep water without our floaties? Perhaps, but we have three core reasons for implementing this as an 'option' for our clients.
As a client-driven agency, it is invaluable to understand how our work is valued in the market. This allows us to make changes when necessary to become a better provider for our geofencing clients.
This approach allows us to have the 'freedom to operate' as we see fit, being disconnected from antiquated fixed-pricing schedules.
Finally, at Geofence.PQ we are contrarian in our approaches to traditional geofencing and digital marketing. So, why not in our business model?
The 4 Guidelines of PWYW.
Mobile and Desktop Display Only.
This model is ONLY avaailable for those seeking to run static or video banner ads to drive engagement and growth. This is the best place to start for most businesses.
A Single Mobile and Desktop Creative Set.
Retargeting is included.
'Skinny' reporting.
Geofence.PQ offers creative development for our PWYW clients. However, although unlimited editing is available, complete creative sets are limited to a single grouping.
The 'bread and butter' of these efforts is the retargeting for the subsequent 30 days following the capture of device ID's. This increases your touch points and the likelihood for eventual conversions and visits.
Analytics and reporting are critical, yet labor-intensive. The risk in offering a PWYW model weighs heavy in this particular area. In that spirit, there is ONLY mid-month and end-of-month reporting.
“After years of delivering strong geofencing results for clients, we wanted to remove the biggest obstacle we have seen; the hesitation to commit to yet another marketing channel.
This isn’t a discount model. It’s a confidence model.
We set a fair minimum base that allows us to deliver professional work, then give you full control to pay more (or not) based on the actual experience and business impact we create. It’s designed for businesses that are serious about location-based marketing, but want 'proof of concept' before going all-in.”