Price Hike!

There is lots of chat about pricing on the Warrior Forum ... why sell an eBook for $7 when you can sell it for $1000 etc. etc. Much of it is exaggerated but there is a fair point in it ... increasing prices may not necessarily decrease sales volume - there could be some room for increasing prices... or reducing them!

The aim of course is to maximise profit. Reducing price may achieve this (perhaps your product gets a lot of sales from a price comparison site) and sometimes increasing helps, sometimes your at the right price already. The point is to test and that is exactly what I am doing now.

I have a product that originally sold for about $30 with a $10 option and various bulk discount options from 1 license up to 5 licenses. This created 10 different price combos.

I decided to simplify the pricing to just 2 price points $50-ish and $90-ish which covered 1-2 and 3-5 licenses and included the afformentioned optino.

So far (3 days) sales have been mildly slower but overall revenue has been above average. I think 30 days is needed in my niche to get a fair idea if this has worked, and 90 days to draw some definite conclusions.

So there you go - experiment with price, you never know how much money you could be leaving on the table.