03 March 2011 ~ 10 Comments

The Future Of Online Business Is Paid Content – FA041

Audio

The Free Content Vs Paid Content Debate

This debate has gone on for a long time–basically since the Internet went mainstream.  A new version of this debate has popped up recently because several high(er) profile bloggers have started email newsletters that…OMG…you have to pay for.

Recently, a guy I read, Adam Baker of ManVsDebt, started a pay-for blog.  I paid just to check it out.  It’s called ShutUpAndHustle.com.  Baker (that’s what he goes by) charges $25 a month for people to read this blog.  (This site went live after Izzy and I recorded this)

This is the “purest” form of the Future of Blogging Is Paid Access I’ve seen.  Most of the recent converts to getting paid for what they create have been using Letter.ly, which we have mentioned before.

Content Creators Getting Paid To Create

Izzy and I started Foolish Adventure as a free audio show and have promised that as long as we produce the show it will remain free.  We also said in the beginning that we would develop a way to earn money from it.  Six months later we created a Pay For Access site called Foolish University.  It is also a Pay For Content site since members get premium content from us as well as direct access to us in the Forum.

We’ve been preaching the Paid For Content/Access since the beginning, but it is good to see other Content Creators waking up to this idea.

Read This For Context

Article mentioned in the show: In Over Your Head: The Future of Blogging Is Paid Access

Enjoy your Foolish Adventure,

Tim and Izzy

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  • Kae

    Hi there Izzy and Tim. I really enjoy your show even though I am one of those mooches you mentioned in the show. Unfortunately, at this time, I am unable to join the many membership sites I would like to for reasons I will not go in to. I found myself smiling through this show thinking about a time when people were sure nobody would pay for television or radio. Yes I am old enough to remember a time before cable tv and satellite radio. I consider the free content as equivalent to advertising. The effort you put into this free content is building your “brand” and when people like what they see and hear and are sure of the value you offer, they will be back and at some point will be willing to use their resources for your resources. I will not be a mooch forever and I already know where my resources will go when I have some to spend. Thank you for the entertainment as well as the content.

  • http://FoolishAdventure.com Tim Conley

    A mooch is someone who takes without ever giving back. Izzy and I should have made it clear that we weren’t meaning people should give us money to ask us a question. But courtesy is a nice thing to give when people are asking for anyone’s time.
    We get a lot of people asking for things without even giving us courtesy in exchange. Value for value is the way humans operate. The value exchanged doesn’t have to be monetary.

  • Anonymous

    Yes… “Value for Value” is a righteous concept… but like Kae is saying: How can we determine “value” unless we can taste a sample (for free, or at least absolutely minimal cost)… and that’s what you’re saying with the 3 product approach.

  • http://FoolishAdventure.com Tim Conley

    That’s correct. We believe that anyone who wants customers should be the first to give value and greater value than someone would expect to pay for it. And that’s just the free stuff. The free stuff a business gives out shouldn’t ever be thought of in a prospect’s mind as, “No wonder it’s free.” There’s a lot of junk out there that people are giving away for free. We say not to do that. Give great value and it will be returned to you.

    As for the case Izzy and I were talking about is when people get mad at us for not giving them a bunch of our time for free. However, we have given time to people who have been courteous with us. When someone is nice to you it is really hard not to be nice back.

  • Kae

    Hi again – I really meant for the mooch comment to be more tongue in cheek. I most wanted to comment that this new way of doing business is not much different than the old way – you produce something, advertise what you have and then sell it. Once people become more familiar with the new format they will realize it is business as usual.

  • http://www.thewoodhaven.co.uk HavenTom

    I’m not sure if it’s because of my involvement with the whole FA movement, but my mind has been on this a lot over the past year. The incredible thing about this is that it’s absolute common sense. Isn’t it? Why would someone provide you a service an not expect to be compensated? That’s a concept that’s been about, er since the dawn of time? Here in the UK we have to pay for a TV License. For years I have resented it and still do because I don’t get to pick what they broadcast, I have absolutely no control over it (other than to turn it off).

  • Remco Tevreden

    I had an experience last year, which exactly fits in this topic. I organized an online webinar, with 10 speakers from around the world. I got about 160 subscribers to my list, all being very enthusiastic. But when I put out the sales page, with the price of $50 (5 dollars per webinar) there were only 4-5 people who paid.
    I also got a angry mail, stating that it should’ve been for free…..I cancelled the event.

    I (still) believe in the project, but learned a valuable lesson

  • http://FoolishAdventure.com Tim Conley

    I think it’s a great idea. You should set it up again, but this time let people know in advance that you’ll be charging for it. You don’t have to say how much up front during the marketing process, but let people know it will cost something.

    You should charge more, too.

    Also, set up an affiliate program so that the speakers can promote and send traffic to the sales page, too. This will build your list and make everyone more money. This will also give a reason for others to promote the event and that will build your list even further.

  • Marshall

    Enjoyed this episode, but as Tim stated, paid content is nothing new. Even back in the dial-up BBS days, many folks paid for access to stock data, real estate info, sales leads, building permit lists, sports betting, product updates, etc. The key as a provider is understanding your value proposition, does your content make economic sense to a potential buyer? Am I getting actionable information that I can put to work immediately, and see a return on investment? If the answer is yes, then it boils down to “do I trust the source”? Building trust is where a certain amount of “free” is required. Although I contend that nothing is really free, I offer three “currencies”…my time, my contact information and my money. All three offer significant value to the producer, if they use them wisely.

  • http://FoolishAdventure.com Tim Conley

    Well said Marshall. No one should ever take their audiences attention for granted. Subpar free will do a ton of damage to one’s reputation and diminish the trust the audience has.