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

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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 -
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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.
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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
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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!

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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.
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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 ...
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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
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