This Forum Has Been Archived
*Click Here To Visit The NEW Forum*

 

 


Pricing ... $25, $29, $37, $39?!?!?

From setting up an Affiliate Program to Recruiting & Managing Affiliates - join us here to ask questions or share your tips & experiences.

Moderators: angienewton, tknoppe, terrapin719, lisamariemary

Pricing ... $25, $29, $37, $39?!?!?

Postby Dave Navarro » Sun Jan 15, 2006 11:09 pm

Hello all -

Looking for some advice. Will be releasing a new product this week, an audio program on how to become an early riser.

I was planning on releasing it for a week to my personal list for $25, then after a week raising it to $39 and letting affiliates have at it.

But am I leaving money on the table? Part of me wants to price the list-only discount for $29, because that's a number people are used too, but at the same time I am concerned that people are so used to it that's it's overdone.

$25 seemed to stand out and, it's less expensive.

Based on your experience, what do you think? Should I start it out at $25 or $29? Which number do you think is more likely to drive sales?

(and past that ... the same question between $37 and $39) ...

Thanks for any and all feedback -
User avatar
Dave Navarro
 
Posts: 106
Joined: Tue Aug 31, 2004 4:35 pm
Location: Research Triangle Park, NC

Postby Lynn Terry » Wed Jan 18, 2006 9:58 am

It's been said that numbers ending in 7 have a higher conversion rate. For what reason, specifically, I am not sure. But that is the reason you see so many products online priced at 37, 67, 97, etc.

I would begin with a limited-time special offer to your subscribers only (the lower price). Go ahead and make the sales page for the normal price, but make them a special link to order it at the discount.

This will give you an opportunity to test your conversion rate, so you can share that number with potential affiliates.
User avatar
Lynn Terry
Site Admin
 
Posts: 14504
Joined: Wed Mar 26, 2003 9:01 am
Location: TN, USA

Postby Jeff Casmer » Wed Jan 25, 2006 10:08 pm

Hi Dave,

I have heard that too about ending in 7 so it must be a good idea...

Jeff Casmer
User avatar
Jeff Casmer
 
Posts: 361
Joined: Thu Feb 24, 2005 8:43 pm
Location: Chicago

Postby DennisLively » Thu Feb 02, 2006 12:41 am

Hey There Dave!

I've split tested price points extensively over the last 6+ years and here's what my latest stats show.

Latest test: December 10-December 17, 2005

$25.00 versus $27.00 $27.00 wins with a 17% increase in sales

$27.00 versus $27.77 $27.77 wins with a 13% increase in sales

$27.77 versus $27.95 $27.77 wins with a 9% increase in sales

$27.77 versus $29.97 $29.97 wins with a 21% increase in sale

This was for an ebook on a niche subject. Exactly the same sales copy, graphics...everything...except for the price point.

This latest test is consistent with other tests I've run throughout the years.

I always price a product as close to a round number (20, 30, 40, etc) as I can...but have the price end in a 7...$29.97 always outsells $29.95, $27.97 and $27.77

So, if I were going to suggest a price point for you in the range you're looking at, I'd suggest $29.97. My testing bears that out. You may want to test yourself to be sure.

Hope that helps you some...good to see you here!

Dennis Lively
www.avirol.com
User avatar
DennisLively
 
Posts: 17
Joined: Thu Dec 01, 2005 6:01 pm
Location: Wheeling, West Virginia

Postby Ladan Lashkari » Fri Feb 03, 2006 7:04 am

Hi Dave,

I'm quite sure $27 will sell better than $29 because experience shows me that prices ending in 7 are more effective than 9. Also the higher your price is, the more this rule applies.

For example the effectiveness between $97 and $99 is more different than between $17 and $19.
User avatar
Ladan Lashkari
 
Posts: 208
Joined: Wed Feb 23, 2005 3:57 am
Location: Tehran, Iran

Postby Dave Navarro » Fri Feb 03, 2006 9:48 am

:-) I actually went with $97 as I'm including two minths of online support with the product.

I'll test the .77 at the end later this month, thanks for the tip!

I wonder how $97.77 vs $97 will work ... looks like an awful lot of 7's ...
User avatar
Dave Navarro
 
Posts: 106
Joined: Tue Aug 31, 2004 4:35 pm
Location: Research Triangle Park, NC

Postby Dave Navarro » Mon Jul 09, 2007 3:56 pm

I realize I never updated this thread ...

I went with $97 and had good conversion .. so I stuck with it! :-)

- Dave
User avatar
Dave Navarro
 
Posts: 106
Joined: Tue Aug 31, 2004 4:35 pm
Location: Research Triangle Park, NC


Return to Affiliate Program Managers

Who is online

Users browsing this forum: No registered users and 1 guest

cron