What is the Next Common Price Point after $97?

x3xsolxdierx3x 14 years ago

Another question...

Do you all think a Product/Course NEEDS to have an audio/video format option in order to hit a price point higher than $97?
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- raapeti 14 years ago
  
  "Do you all think a Product/Course NEEDS to have an audio/video format option in order to hit a price point higher than $97?"
  
  That is a preference and product field question.
  
  I really dislike reading PDF's and would rather choose a video, but that is only my opinion. Most people perceive more value in a video course to a PDF. Think about language learning for example, or how to change a tire. Do you prefer an iPod or a Kindle?
  
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- JohnMcCabe 14 years ago
  
  Originally Posted by x3xsolxdierx3x
  
  Another question...
  
  Do you all think a Product/Course NEEDS to have an audio/video format option in order to hit a price point higher than $97?
  
  IMO, the higher the price point, the more important it is to provide a mix of media in establishing value.
  
  For example, on my shelf is a product of which the main component is DVDs of a day-long seminar. In addition, there's a CD-ROM containing software mentioned during the seminar, PDF reports further explaining certain aspects, PDF worksheet blanks etc.
  
  I paid $497 for this.
  
  If all I got was a set of online videos (or even downloadable videos), I'd have never paid more than $97 for the package.
  
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DogScout

14 years ago

No. Video takes too long to watch. Can read a 400 page PDF in 40 minutes and the same info would take hours of video to duplicate.

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tribros

14 years ago

Originally Posted by x3xsolxdierx3x

I think the title of this thread covers my question....lol

I know there are certain "price points" that are common (and proven effective) in the IM community....

Does anyone know what the next one is after $97?

Most common pricing structure in IM:
$97 - $127 - $147 - $197 - $297 - $497 - $997 - $1497 - $1997 - $2997

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JamesFrancisIM 14 years ago

Originally Posted by tribros

Most common pricing structure in IM:
$97 - $127 - $147 - $197 - $297 - $497 - $997 - $1497 - $1997 - $2997

Yeah, this is correct. I see some products priced at 137 too.

It's something you have to split test for your own product though.

I higher price doesn't necessarily mean you'll get a lower conversion rate, either

For example, my Easy IM Profits video course sold better at $97 instead of $37. Weird :p

- James.
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Anonymous Affiliate

14 years ago

Originally Posted by tribros

Most common pricing structure in IM:
$97 - $127 - $147 - $197 - $297 - $497 - $997 - $1497 - $1997 - $2997

Actually, from what I've seen, it's like this: $97 - $147 - $197 - $297 - $497 - $697 - $997 - $1997

By the way, in my opinion $127 is rather redundant. If someone is willing to pay $127 you can probably have him paying $147.

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Dale Fisher

14 years ago

Originally Posted by Anonymous Affiliate

Actually, from what I've seen, it's like this: $97 - $147 - $197 - $297 - $497 - $697 - $997 - $1997

By the way, in my opinion $127 is rather redundant. If someone is willing to pay $127 you can probably have him paying $147.

This is right on the money. It is not necessarily what you have seen, but what sells. These price points have tested rather well.

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jwellsy

14 years ago

You might also consider a set number of monthly payments, such as $15 a month for 12 months.

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Christophe Young

14 years ago

I think you should consult with Bob Barker.

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LilBlackDress

14 years ago

I think you also have to think of the competition. Even if you have a longer, content rich product. So if you are selling your product teaching people how to do something to make money and your competitor is also teaching the same thing and they are making alot more money than you at what you both are teaching.....and they are selling their "how to" for $25. Then you may have to reconsider how much you can charge for your "how to".

In addition who are you marketing to. If you are marketing your "how to" to writers they are a lot less likely to ante up the bucks then say internet marketeers.

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Bayo

14 years ago

I believe $99 (then $127).

But is also depends on other factors such as your target market, what you're selling etc

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robvegas626

14 years ago

$107, $127, etc...apparently research has shown that as long as you end your price in "7" you're ok.

That's what the gurus say, at least...and hey, it's a lucky number.

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Alexa Smith

Banned 14 years ago

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x3xsolxdierx3x

14 years ago

Here's another question....would anyone here NOT use a dollar sign in their pricing?

Some restaurants apply this strategy.....hm....the rationale is that it's 'suppose' to make the price look alot less intimidating....

A restaurant named "Carrabas" uses this strategy (and, I'm sure quite a few others do, as well)

Carrabba's Italian Grill - It's just that good.

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butters

14 years ago

Originally Posted by x3xsolxdierx3x

Here's another question....would anyone here NOT use a dollar sign in their pricing?

Some restaurants apply this strategy.....hm....the rationale is that it's 'suppose' to make the price look alot less intimidating....

A restaurant named "Carrabas" uses this strategy (and, I'm sure quite a few others do, as well)

Carrabba's Italian Grill - It's just that good.

That would annoy me personally, I'd walk in one day with some yen and slap it on the table and walk out

.

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Pandan

14 years ago

Originally Posted by x3xsolxdierx3x

Here's another question....would anyone here NOT use a dollar sign in their pricing?

Some restaurants apply this strategy.....hm....the rationale is that it's 'suppose' to make the price look alot less intimidating....

A restaurant named "Carrabas" uses this strategy (and, I'm sure quite a few others do, as well)

Carrabba's Italian Grill - It's just that good.

This may work in the "off line world" shops but I don't think it's a good idea as an online strategy. Don't forget you get global visitors to your website, Europeans, Chinese etc...how would the visitor know what is the currency? It would just create confusion...

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Anonymous Affiliate

14 years ago

Originally Posted by Alexa Smith

I think the key word here is "apparently".

It's one of the many things that most marketers simply copy from other marketers and never test, because they assume that it will work well for their product and their circumstances "because that's what the gurus once said a long time ago about something different". I wouldn't even be surprised if it's a few years since anyone realistically tested it at all.

I agree with Alexa. I've never seen any serious split test on this topic. It's just a self-fulfilling prophecy and it's sort of become the standard, so no point in messing with it regardless of whether there's been any factual split test being done or not.

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Kelly Verge

14 years ago

Originally Posted by Alexa Smith

I think the key word here is "apparently".

It's one of the many things that most marketers simply copy from other marketers and never test, because they assume that it will work well for their product and their circumstances "because that's what the gurus once said a long time ago about something different". I wouldn't even be surprised if it's a few years since anyone realistically tested it at all.

I purposely "bucked the trend" with my current WSO's.

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willyboy104

14 years ago

Originally Posted by Alexa Smith

I think the key word here is "apparently".

It's one of the many things that most marketers simply copy from other marketers and never test, because they assume that it will work well for their product and their circumstances "because that's what the gurus once said a long time ago about something different". I wouldn't even be surprised if it's a few years since anyone realistically tested it at all.

People used to believe the Earth was flat, because apparently that's obvious or someone had seen the edge of the Earth or whatever! The point is because of that one statement thousands, millions believed the Earth was flat instead of actually researching, experimenting OR probably the most obvious finding the edge!

This is the same with using the 7 as the end digit in pricing, just because it may have worked effectively for one person, or one group of people at one point in time, who's to say it will still work now or would work for another person, or another group of people in a totally different area.

People just like to follow others, we are just sheep. We need a wolf to take the initiative and to actually test this among several markets with several price points ending in several digits to actually see what works best.

But heck, I am just a sheep so what am I saying ^^

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orlando cassara

14 years ago

Most of the time the price goes from $147 or $197 depending on what the product gives and the value of the product.

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MarketItAll

14 years ago

Well considering that you are going up I would say like 127 or 137. If you are going down then 77. There isn't really a "right next price" though.

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amujtabaa

14 years ago

In the end it's all about the perceived value. Higher prices hint at a exclusive product. Make sure to incorporate other mediums of information besides text like audio and video.

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cheyingtan

14 years ago

Just wondering...I saw a lot of price ending with 7, any reason?

beyond $97, the most common one I saw are $127, $147, $197, $297, $497

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NicholasX 14 years ago

Originally Posted by cheyingtan

Just wondering...I saw a lot of price ending with 7, any reason?

beyond $97, the most common one I saw are $127, $147, $197, $297, $497

yea, me too...maybe because its a lucky number. lol
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paulie888

14 years ago

The next most common price point that I've seen is $127, and I've also seen that the $147 and $149 points are quite common as well. What I've noticed is that they almost always tend to end with a 7 or 9 in this price range.

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jazbo

14 years ago

The next obvious one for me is $127, then $147 then $167 then $197

No idea why its in sevens mind you, well I do, but not sure it really "fools" anyone.

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x3xsolxdierx3x 14 years ago

Originally Posted by jazbo

The next obvious one for me is $127, then $147 then $167 then $197

No idea why its in sevens mind you, well I do, but not sure it really "fools" anyone.

I think if people perceive a product as being valuable, they'll purchase regardless of whether its $97 or $98.32 or something like that...lol....

On another note, I did read once that people have become some conditioned to seeing things like "29.99", that people actually subconsciously feel like pricing at something like say "29.95" conveys that MORE thought was given to pricing....
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- butters 14 years ago
  
  I have never seen a $127 dollar product ... This is the trend I have seen...
  
  97 - 147 - 197 - 297 - 497
  
  For some reason, I never see a 247 or anything in the 300 market, anyway, thats what I have seen.
  
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Anonymous Affiliate 14 years ago

Originally Posted by jazbo

The next obvious one for me is $127, then $147 then $167 then $197

Why would you segment the price ladder than thinly. There's no need to chop it up to oblivion. Hardly anyone sells at $127 or $167.
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- Dunder 14 years ago
  
  I think we've all been conditioned as internet marketers to believe that the price points are what we consistently see day in day out.
  
  As Alexa mentioend earlier, I don't think anyone tests the price points nowadays they just believe what they are told over and over again in ebooks and videos.
  
  When the 7 Dollar Script came out, it broke the mould of the pricing structures at that time.
  
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George Gomez

14 years ago

I would say it probably is $147.

I think that someone who is willing to pay $127 for a product will pay $147 too.

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RNMKR

14 years ago

id say $127 or $117

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Marhelper

14 years ago

I would say $147. BTW there is another thread with the same title right next to this one.

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x3xsolxdierx3x 14 years ago

Originally Posted by Marhelper

I would say $147. BTW there is another thread with the same title right next to this one.

In that poster's defense, that thread title IS different....

"What is the Next Common Price Point after $97?"

VS.

"What is the Next Common Price Point before $97?
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What is the Next Common Price Point after $97?

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