In the first half, we’ll tackle the perceived cost and explain why Audible books feel more inexpensive than they really are-even free, sometimes. Specifically, you’ll learn why you often prefer payment schemes that often aren’t in your best interest. We’re using Audible’s pricing strategy to illuminate the psychological principles that make it easier for you to part with your money. So even if you’re not an Audible customer, you’ll recognize the same strategies used by lots of other companies. In this post, we’re going to explore the psychology behind Audible’s pricing strategy. In fact, they’re happy to pay more for the same product in exchange for paying in advance. They pay the same amount in advance of the actual transaction. Yet for many kinds of transactions, when given the choice, people are happy to. There’s no advantage to giving up your money earlier. pay $1.49 on Monday morning when you stop by Starbucks. 
pay $1.49 the day before and pick it up on your way to work, or. Pretend it’s Monday morning and you’re on your way to work. You can get the book for the same price, but only by also deciding to get books each subsequent month-which costs more in the long term. You make one decision now to prepay next month, and the next month, and the next month. By subscribing, you commit to continue paying in advance. No subscription required.Īs you can see, Audible differs from its competitors (like Google Play) in two important ways: 
The same audiobook sells for $14.95 a la carte.
How do you get credits? Most people subscribe to a subscription plan:Īt first glance, this looks like a pretty good deal: I can either pay $21.55 for the book or get a credit for $14.95 and use it to buy the same book.īut is it really? Compare it to Google Play. You can subscribe to receive credits, which you can use to download books.Īs an example, right now on Audible, you can buy Tina Fey’s Bossypants (which I highly recommend) for either $21.55 or 1 credit. You give Audible money Audible gives you a book.
You can buy an audiobook ala carte-just like you would buy any book. Audible came up in my research not only because I subscribed, but because it was one of the more novel subscription models I had found. 
I had been researching subscription models for dozens of companies across several industries and markets, because our company was thinking of launching a SaaS product. A few years ago, my boss told me I was crazy for subscribing to Audible.
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