Is $1 Product Really Harder to Sell Than $67 One?

Offer paypal as an option, when credit cards are involved people fear they might be continuously charged

Agreed on paypal.

I have a few $1 products out there that sell very well. I position most as this. "I just want to prove you have the ability to spend money online" because if they can't what use are they really???

In my experience the low up front price fulfills the business goals of 1) removes customer risk 2) lowers buying resistance 3) qualifies the prospect as someone willing to spend money not simply join a list.

However too low a price also removes credibility, and as you put it, raises problems, e.g. "is there a catch."

I'm sure you'll get many opinions on this. At the end of the day split testing is the best way to empirically prove results. Try different price points.

Lastly, if there is too large of a disparity between the initial offer and the OTO or upsell it will hurt sales there. Again, test.

I think you are going to have to test it. That really is the best way to find out the real answer. I'm presuming you already have a list or affiliates ready to promote.

Why not splash out the offer at $67 and have $20 off as a downsell and see how that goes first. After the first promo runs and you've got some stats, you could target the same prospects again with something like...

"Ok so some of you wanted to try this out first before parting with your money....
Along with some testimonials from people who actually tried it out at $67 reassuring the quality of the product....

Why not give it a try for $1 and then you'll be billed $66 at the end of 7 days- or something along those lines....

I was reading a recent document by Frank Kern, and apparently his profits went up when he charged $197[or something like that] for the very same offer he had a trial for $4.95 or something. So you never know until you test it as individual results vary greatly because of several factors involved.

Hope it gets your creative ideas running.

Maddi

$1 seems a suspicious price for a product. People dont trust a product the seller himself doesnt value high! So yeah! Higher price = more trust.. wierd but true

Or you can offer it for free, but charge $1 to cover your bandwidth charges. Just word it slightly differently

Its actually a physical product sent...the $1.00 and shipping ($4.95) just covers my costs. Need to beat someone in a selling contest so honestly just need sales at any price. So that is the reason for my craziness. I might try to up it to $5.00 I have a few lists to email market to in this industry so I can test it there. Just didn't know if there were any other good ways to market it too...

Thanks all for your responses so far. Interesting!!

A physical product for $1 and making a profit? DAMN! Yea, market it better. Video marketing goes good with physical products

Might test $9.95 plus FREE SHIPPING as the offer...

The first thing I would think of when see something priced for $1.00 is that there must be a recurring monthly charge to your credit charge for something. I would definitely be looking out for the small print.....


"$1.00 for the first month and then $1,000.00 per month afterwards. Purchasers are legally obligated to a 48 month contract. See you in hell."


Personally, I would make this a $7.00 product(I do think $1.00 is too low).

Why not strike a happy medium and go for the $7 market?

Also if you want a traffic boost set it up with a 100% affiliate commission as per the $7 script. If you're interested I know how to set up the butterfly marketing script to do this, and as it's a physical product I think this script would really help your site as it would get the buyers onto your aweber list.

I always think that setting a price too low will get people thinking "okay, it might be a decent product, but the free alternatives as probably just as good" ... whereas setting the price a bit higher will convince people that they're actually spending their money on something valuable.

However, in this case, you need to make sure that you actually provide great value for their "buck".

Ahhh such great suggestions. I'm going to test out $7 next and see what I come up with. The people on my lists already have a pretty good relationship with me so some really jumped at the chance to get it for a discount. It's for moms and I know they always love a great deal.

Thanks for helping me think through this so I can make the best possible no-brainer mega sale. I'm only doing it for June then will continue to sell at the regular price. But so far have had a number of bites, just not as many as expected!

Find a reasonable price that gets buyers. $1 is just too low.

$9.95 is the best price to sell, it does not leverages people pocket book and people shell out and forget about it. In other words it does not hurts.

The other thing you can do to combat people's concerns that the quality may be low is to let them see for themselves.

For example, you could create a product preview with the first few pages of a few select chapters using this free service: BookBuzzr-Free Online Book Marketing Technology for Authors

That preview function features a big buy button embedded that you can link to your checkout.

When people get to see a little snippet from the product they can satisfy themselves that the quality is high level and then it will fall into no brainer territory.

Also, if you think people might imagine there's a catch go ahead and address that in your sales copy. Tell them there's no catch, no recurring billing, no hidden fees and no whatever else.

Just be open with people and let them see all the details for themselves and you'll be sweet.