Foreword, by Adrian Payne, to my new book on FairPay

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 Marketing, University of New South Wales Business School, Australia and Visiting Professor, Cranfield School of Management, Cranfield University, UK, and has extensive senior management experience. Adrian has been influential in my work on FairPay, and I thank him for many valuable suggestions during my writing.

The full text of his Forward is online.  Here is the opening paragraph:

Enterprises everywhere are recognizing the need to become more customer-focused, but struggle to determine how to achieve this. This compelling book explains how a new innovative approach to pricing—“FairPay”—can help achieve this goal through a radical shift in considering how to price products and services. Pricing is not an area that executives consider with great excitement, yet the approach outlined by Richard Reisman promises to be transformative both in practice and theory. It is likely to receive great interest from enterprises, especially those offering digital products and services where the marginal cost of producing a further unit is close to zero. (More...)

I hope you will read his Foreword -- and my book -- and join us to change how we do business in the 21st Century.

Other early praise:

"Anyone responsible for monetizing digital content in consumer markets should understand this radically new perspective on pricing and how to maximize customer lifetime value. FairPay provides strategies and operational methods for creating better relationships -- to increase loyalty, market reach, and profits." - Shelly Palmer, Business Advisor, Author, Commentator 

"Reisman unveils a new world of possibilities through an innovative and visionary methodology that introduces a reference platform for digital value exchange. FairPay is very versatile in its applications and compatible across industries. It is a great example of what disruption could look like in a new digital business era." - Lucila Pagnoni, News Corp Australia 

"FairPay boldly explores the future of pricing from a co-creation of value perspective. Highly recommended for digital business entrepreneurs, as well as established firms working on their digital transformation." - Jim Spohrer, IBM and ISSIP.org 

"A groundbreaking and definitive book on pricing strategy for the digital age. This highly innovative and practical work shows how enterprises can develop relationship-based pricing strategies leading to long-term customer relationships, based on principles of equity and fairness for both customer and supplier." - Professor Pennie Frow, University of Sydney Business School

Order the book now from:

• Business Expert Press
• Amazon
• Barnes & Noble
• Google
• ISSIP (member discount)

FairPay Book Just Published / Related LinkedIn Group

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 digital content in consumer markets should understand this radically new perspective on pricing and how to maximize customer lifetime value.

...an innovative and visionary methodology …what disruption could look like...

...groundbreaking...

...compelling …promises to transform business...

Highly recommended for digital business entrepreneurs, as well as established firms...

The full title is FairPay: Adaptively Win-Win Customer Relationships. It pulls together a wealth of material from the blog plus new additions. The book has sections that are very pragmatically focused on how FairPay works in specific industry use-cases (as an alternative or complement to conventional freemium subscriptions, paywalls, and other methods). It also addresses the conceptual foundations in marketing, behavioral economics, game theory, and related areas.  It explains how FairPay can solve critical problems in pricing, value propositions, and customer relationships -- with a focus on the digital content and services businesses now in the throes of digital disruption, but also for other businesses.

I hope readers (both early followers and those new to these strategies) will find this not only a useful introduction to FairPay, but also a thought-provoking perspective on the broader issues of modern consumer commerce and how to make it far more win-win. As noted below, there is now a LinkedIn group dedicated to building on this theme.

Some of the new material in the book will be featured in added blog posts over the coming months.

Details on the book and how to get it are now online.

Order now from:

• Business Expert Press
• Amazon
• ISSIP (member discount)

Online Supplement

As an added feature there is a special online supplement to the book with links to updates, blog posts with added detail, and other resources (also accessible as FPZLink.com).  Even before you get the book, this can offer a preview of much of the content (but in less organized form).

LinkedIn Group for FairPay and related innovations -- Please join!

As part of the online supplement, there is now a LinkedIn Group called FairPay: Adaptively Win-Win Customer Relationship, to enable you to connect with others who share interest in FairPay and related innovations in participative co-pricing, relationship marketing, customer journeys, and behavioral economics - especially to maximize Customer Lifetime Value for digital services.

Background:

This is part of a collection curated by Jim Spohrer and Haluk Demirkan of The International Society of Service Innovation Professionals (ISSIP).

• Business Expert Press is a leader in concise and applied learning resources, and partners with Harvard Business Publishing
• ISSIP is an organization founded by IBM, Cisco, HP and several Universities with a mission to promote Service Innovation for our interconnected world.
• Jim Spohrer is IBM Innovation Champion and Director of the IBM University Programs World Wide,
• Haluk Demirkan is Professor of Service Science, Information Systems & Supply Chain Management, and the Founder & Executive Director of Center for Information Based Management at the Milgard School of Business, University of Washington (UW) -Tacoma

Early Praise for FairPay (the Book)

Available soon!  Pre-order now!

"Anyone responsible for monetizing digital content in consumer markets should understand this radically new perspective on pricing and how to maximize customer lifetime value. FairPay provides strategies and operational methods for creating better relationships -- to increase loyalty, market reach, and profits." 
- Shelly Palmer, Business Advisor, Author, Commentator

"Reisman unveils a new world of possibilities through an innovative and visionary methodology that introduces a reference platform for digital value exchange. FairPay is very versatile in its applications and compatible across industries. It is a great example of what disruption could look like in a new digital business era." 
- Lucila Pagnoni, News Corp Australia

"FairPay boldly explores the future of pricing from a co-creation of value perspective. Highly recommended for digital business entrepreneurs, as well as established firms working on their digital transformation." 
- Jim Spohrer, IBM and ISSIP.org

"A groundbreaking and definitive book on pricing strategy for the digital age. This highly innovative and practical work shows how enterprises can develop relationship-based pricing strategies leading to long-term customer relationships, based on principles of equity and fairness for both customer and supplier."
- Professor Pennie Frow, University of Sydney Business School

"This compelling book explains how a radical shift in how we set prices can help enterprises become more customer focused. It promises to transform business by providing a new operational dynamic for maximizing customer lifetime value."
- Professor Adrian Payne, University of New South Wales Business School

Available soon!

Pre-order now! / More details

• Business Expert Press
• Amazon
• ISSIP (member discount)

How Pokemon Nudges Users to Spend

This Wall Street Journal article explores how PokémonGo and other mobile gaming apps "have mastered techniques for coaxing mobile-game players to make in-app purchases." This provides some crucial lessons about the future of marketing in general -- and the case for the new FairPay strategy in particular.

Here are some very interesting points about ways to get consumers to happily spend money -- points that can be generalized in computer mediated marketing of all kinds:

• Once considered an unrefined nag, the in-app pitch has been honed so well it coaxes tens of billions of dollars a year from people who have gravitated to free mobile games.
  
• They “engage people in a longer financial discourse than you would have in an upfront sale.”
  
• Algorithms are playing an increasing part in nudging players to spend. Based on dozens of data points—how often gamers play, what model mobile device they use, location and gender—developers might raise a game’s difficulty level, making no two players’ experiences exactly alike.
  
• Data on players’ behavior also are used to strategically tweak prices for virtual goods in real time. “You get people to spend more money if you understand their behavior,” said Niklas Herriger, founder and chief executive of Gondola, a New York analytics firm that develops algorithms for game developers. “You can trace their finger every step of the way.” 

In talking to companies about the potential of the new FairPay pricing strategy described in this blog, the two concerns that are most often raised relate to consumer behavior. Will customers be willing to become engaged in the game of spending money? And can I design the game to nudge users to be fair enough to provide a fair profit? 

The article suggests that both can now be done successfully. With the right choice architecture, a form of game design, customers can be nudged efficiently and effectively. If it can be done in marketing for a game, why not in other forms of marketing as well? 

That suggests the same is true for FairPay. It is a new logic, but a natural one -- the kind of economic cooperation that people have excelled at for millennia.  It is only in the past century that we have been conditioned to think differently. This anomaly has held force for all of our lives and is therefore all we know, but now it is time to jump into to the future. We have the technology -- and both businesses and consumers will love it.


For a full introduction to FairPay see the Overview and the sidebar on How FairPay Works (just to the right, if reading this at FairPayZone.com). There is also a guide to More Details (including links to a video).

My Forthcoming Book on "FairPay: Adaptively Win-Win Customer Relationships"

Enterprises everywhere are recognizing the need to be more customer focused, but struggle to see how.  This new book explains a revolutionary approach to pricing – FairPay -- that can change the game.  FairPay is a new logic for conducting ongoing business relationships that adaptively seek win-win value propositions in which price reflects value.

I am very pleased to report that this book is in production, to be published later this year. It will be 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).

Jim saw the potential of FairPay, and how well it is aligned with the service-related innovations he and his colleagues at IBM and ISSIP are championing. He asked that I write this book, drawing on the material in my blog. I look forward to seeing it published in the coming months.

The full title is FairPay: Adaptively Win-Win Customer Relationships. It pulls together a wealth of material from the blog plus new additions. The book has sections that are very pragmatically focused on how FairPay works in specific industry use-cases (as an alternative or complement to conventional freemium subscriptions, paywalls, and other methods). It also addresses the conceptual foundations in marketing, behavioral economics, game theory, and related areas.  It explains how FairPay can solve critical problems in pricing, value propositions, and customer relationships -- with a focus on the digital content and services businesses now in the throes of digital disruption, but also for other businesses.

I hope readers (both early followers and those new to these strategies) will find this not only a useful introduction to FairPay, but also a thought-provoking perspective on the broader issues of modern consumer commerce and how to make it far more win-win.

Some of the new material in the book will be featured in added blog posts over the coming months.

I will be providing updates about the book on this blog as it approaches publication.

• Current details on the book are now online (also accessible as FairPayBook.com), and updates on availability will be provided there. 
• As an added feature there will be a special online supplement to the book with links to updates, blog posts with added detail, and other resources (also accessible as FPZLink.com)

Background:

Business Expert Press is a leader in concise and applied learning resources, and partners with Harvard Business Publishing

ISSIP is an organization founded by IBM, Cisco, HP and several Universities with a mission to promote Service Innovation for our interconnected world.

Jim Spohrer is IBM Innovation Champion and Director of the IBM University Programs World Wide,

Haluk Demirkan is Professor of Service Science, Information Systems & Supply Chain Management, and the Founder & Executive Director of Center for Information Based Management at the Milgard School of Business, University of Washington (UW) -Tacoma

[Updated 9/10]