About testing the price.

4 replies
Hi,
I want to test the price of my new product by split testing.

Are there anything I have to be careful about?

Have you guys ever got complaint from a customer who found the website where you sell the same product cheaper?

Thanks!
#price
  • Profile picture of the author x3xsolxdierx3x
    Originally Posted by ikuret75 View Post

    Hi,
    I want to test the price of my new product by split testing.

    Are there anything I have to be careful about?

    Have you guys ever got complaint from a customer who found the website where you sell the same product cheaper?

    Thanks!
    ikuret,

    I can make heads or tails out of pricing. It could have to do with the "market", however, what I THOUGHT would occur isn't necessarily what occurred. In fact, at a lower price, people seemed very resistant to purchasing....thinking that the product wasn't of value, and, not purchasing at all. With a higher price, I think people perceive it as more valuable....something they want to get their hands on ASAP.

    A friend of mine sold over $200,000 in eBooks last year, and he actually had customers tell him that his pricing was too low. As he increased his pricing, his sales also went up. Of course, there are a million different factors involved....and a TON of strategies to inject value, while remaining transparent.
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  • Profile picture of the author Loren Woirhaye
    If you get complaints from people who bought at the
    higher price, explain to them you're testing price points and
    refund the difference or throw them a nice free
    bonus.

    You won't get many of these customers, but it does
    happen.

    What can be stupid is price-testing to your own list without
    changing the offer or considering the feelings of people who
    might have bought at the higher price.

    I launch stuff all the time to my lists at special "low introductory"
    prices with an expiration date. This is mostly to get people
    off their butts. People are pretty motivated to save money
    on stuff they want and an offer to save money on something
    they'll want to buy anyway is hard to resist.

    At the same time too, info-products degrade in value over time
    so you would expect to bundle and discount older products
    at lower prices. Keep your premium prices on hot, new products
    using the latest technology or sharing the most current
    information.
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    • Profile picture of the author Believers Time
      My dear,

      From my own experience,I can say that people buy contents and value. The price is good to be tested but if what you sale is of great content buyers can pay any amount to get it.

      My own case was different:I sold more when my product price was high but when I reduced the price I made only two sales.

      So what ever you do first offer what your prospects can not resist.

      thank you.
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      • Profile picture of the author x3xsolxdierx3x
        Originally Posted by Believers Time View Post

        My dear,

        From my own experience,I can say that people buy contents and value. The price is good to be tested but if what you sale is of great content buyers can pay any amount to get it.

        My own case was different:I sold more when my product price was high but when I reduced the price I made only two sales.

        So what ever you do first offer what your prospects can not resist.

        thank you.
        lol...completely agree with this, Believers Time....

        As strange as it sounds, sometimes people just won't purchase at a low price because they feel it has a low value, or something like that.....

        One interesting thing people can do is create a course, but, at the same time, make all the parts of the course stand alone and available for sale separately....

        On your webpage, you can assign different monetary values to each element of your course, which further justifies the price of your entire package.....of course, not every course may lend itself to having it's products sold separately.
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