Monday, March 24, 2014

Innovative NYOP Pricing

For the month of March I have rolled out an incentive that I think is unique in the horse world: NYOP pricing. It means Name Your Own Price, and it is exactly that. I have invited stallion owners to place an online ad - a Stallion Profile on - and they can name their own price.

It's a good deal. The ad is the full stallion profile: facts and description of your stallion, four photos of the stallion and four of his offspring, a pedigree chart, and a link to a YouTube video if you have one. The ad runs for a full 12 months - through the end of this breeding season and most of the next.

I read about a taxi driver in DC who starting letting his customers pay what they felt they should. In his experience, on average he made about the same or a little more. A cabbie's business model doesn't necessarily translate into publishing, but I always wanted to try it. I decided the online option was the place to try it - simply because the overhead is so much less than print. In our current economy some stallion owners are facing a money crunch - and online I can say I'd rather have them at a lower price than not at all.

We'll see how it goes! I think in some ways I have made it harder on my advertisers - putting a burden on them they're not used to. Everyone in DC probably knows how much is reasonable cab fare for a given trip - but stallion owners don't necessarily know what is reasonable to pay for an online stallion ad.

But I've had a few takers, and I'm nearing my goal of celebrating 100 stallions with Stallion Profiles on the site. I have 99 as of today.

No comments:

Post a Comment