Pay what you want

by

in-rainbows

Radiohead did it first, and it was a huge success, proving that even given the chance to get a free ride, people would be willing to pay for quality. It seems that with the economic climate as it is, savvy companies are following suit. Little Bay restaurant in London is giving diners the chance to choose how much they think their meal is worth throughout this month, and I recently read about the Ibis hotel in Singapore offering rooms in a similar way.

I’m not suggesting that this idea is financially viable long-term but it works as an excellent short-term means for building strong brand association. It empitomises honest and open two-way dialogue between the consumer and the product/brand. The success of the current Walkers Do us a Flavour campaign reminds us that user-generated content doesn’t have to be reserved to digital and consumers love getting involved with product development. Now, more than ever brands have to build stronger bridges and tighter relationships with consumers to make sure that if they do decide to part with their cash, it’ll be with them.

Ibis info found via Springwise

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