Funny, when I saw that I thought it was genius. Nobody wants to be a cheapskate so by showing the average you encourage people to put in a price above the average. Over time it will trend upward. On the other hand, maybe people will enter in a value just under the average. Right now it is reporting $7.97 as the average. Let's see where it ends up.
I also notice in the promo video it has the average right next to the entry form. On my form it defaults to 29.95 and says "For instance: 10, 20.50, or 100.00." as help text. It seems like they played around with the form a bit.
This is the type of thing that could benefit from a nice A/B test. Might be hard to run on a very public one-time promo like this though.
I also notice in the promo video it has the average right next to the entry form. On my form it defaults to 29.95 and says "For instance: 10, 20.50, or 100.00." as help text. It seems like they played around with the form a bit.
This is the type of thing that could benefit from a nice A/B test. Might be hard to run on a very public one-time promo like this though.