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12-15-2009, 12:16 AM
| #1 |
| Warrior Member Join Date: Nov 2009
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|  What's with $97 (or some derivative)
Just wondering when this became the "fashion". Is it some type of cultural thing? I thought it was $99 or $99.98, etc. Why does it seem all the IM products end in "7" - lucky number or just more hype?
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12-15-2009, 12:26 AM
| #2 |
| Warrior's Newbie  Join Date: Dec 2009 Location: Auckland,New Zealand
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| Re: What's with $97 (or some derivative)
Its more of a "lucky" thing I guess.Maybe it's from old superstitious marketers who discovered that it converts more or sell more when the price ended in 7.
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12-15-2009, 12:28 AM
| #3 |
| HyperActive Warrior War Room Member  Join Date: Nov 2009 Location: Edmonton, AB
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| Re: What's with $97 (or some derivative)
It stands out. The same reason that prices have been $99, or $4.99 or whatever for years, because $97 looks cheaper than $100 and it stands out. $4.99 looks cheaper than $5, even though it's within 1 cent. I haven't looked at any research, but I'm sure you could find all sorts of studies that show higher volume of sales for things with odd prices like that. |
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12-15-2009, 01:16 AM
| #4 |
| HyperActive Warrior War Room Member Join Date: Aug 2009 Location: Rocky Mountains
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| Re: What's with $97 (or some derivative)
I have an ebook of marketing tests from a big-name guru and in it he shows that prices ending in 7 have a much higher conversion rate. So, I am sure that started the ball rolling and then everyone else jumped on the bandwagon since all the big guys were doing it.
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12-15-2009, 01:19 AM
| #5 |
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| Re: What's with $97 (or some derivative)
because $97 look more cheaper than $99 perhaps.  |
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12-15-2009, 04:41 AM
| #6 |
| HyperActive Warrior War Room Member  Join Date: Jul 2009 Location: Myrtle Beach, SC
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| Re: What's with $97 (or some derivative)
It's all about conversions. No real science behind it at all and no real reason. People will buy a product at $97 over a product at $95. Weird, but true. Shane |
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12-15-2009, 04:50 AM
| #7 |
| HyperActive Warrior War Room Member  Join Date: Nov 2009 Location: Sydney, Australia
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| Re: What's with $97 (or some derivative)
The number 7 has been put through many psychological tests and it is the most preferred number for humans. Also when people fill out survey's the typical number they select is... If you are surveying people you should compensate for this as it can blunten your results. |
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12-15-2009, 04:50 AM
| #8 |
| Membership Warrior War Room Member  Join Date: Feb 2008 Location: Melbourne, Australia.
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| Re: What's with $97 (or some derivative)
Add to this that people tend to sub-conciously set a spend limit in incerements and there you have it. For example, if you're going to sell at $27 or $37, you may as well price it at $47. Likewise, no point at $57 or $67... just go for $97. Don't ask why... but it works.  |
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12-15-2009, 05:11 AM
| #9 |
| Treat it like a business War Room Member  Join Date: Dec 2009 Location: Sunny Sydney
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| Re: What's with $97 (or some derivative)
This thread has inspired me to do split testing on the $*7 price points vs. current $*9 prices and see if it makes a difference |
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12-15-2009, 05:16 AM
| #10 | ||
| HyperActive Warrior War Room Member Join Date: Nov 2009 Location: Sydney, Australia
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| Re: What's with $97 (or some derivative) Quote:
Quote:
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12-15-2009, 05:17 AM
| #11 | |
| Senior Warrior Member War Room Member  Join Date: Jan 2003 Location: Cologne, Germany
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| Re: What's with $97 (or some derivative) Quote:
I agree with this. I had read a discussion about this topic here a couple of years ago. Someone was able o bring up a study that showed that the 7 at the end converted better. Tino | |
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12-15-2009, 07:09 AM
| #12 |
| HyperActive Warrior War Room Member Join Date: Jun 2009
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| Re: What's with $97 (or some derivative)
What about a $7 ebook raised to $17 ? Would that work? Seems a big raise to me |
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12-15-2009, 07:13 AM
| #13 |
| HyperActive Warrior War Room Member  Join Date: Sep 2009 Location: Springdale, AR
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| Re: What's with $97 (or some derivative)
I'm no shrink, by any means, but maybe there's some kind of psychological "trigger" behind those 7's ?? Interesting to think about, nonetheless. |
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12-15-2009, 07:21 AM
| #14 | |
| Senior Warrior Member War Room Member  Join Date: Jun 2006 Location: USA
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| Re: What's with $97 (or some derivative) Quote:
Now if it would only inspire those blindly using $*7 price points to test $*9 etc. price points. | |
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12-15-2009, 07:44 AM
| #15 |
| Self Unemployed War Room Member  Join Date: Jun 2009 Location: Florida
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| Re: What's with $97 (or some derivative)
I know someone that tested the price point on a small pamphlet on, let us say iguanas (though it wasn't iguanas) did an adwords campaign that rotated the landing page at $7, $9.99 and 10 dollars even. After 1,000 clicks, the 7 & 9.99 price points converted between 1-2%. The $10 even at 12%. So apparently it is different in each niche. I would assume the number's ending in 7 converted best in a niche and a lot of people do not test their own niche, so go with it. |
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| $97, derivative |
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