People who have BOUGHT from Clickbank in the past few days:

[samstephens]

Just curious - for those that have BOUGHT from Clickbank in the past few days, and aren't from the US, you've probably noticed that after you're transfered to the payment screen the product price is now displayed in your local currency (for those currencies supported).

Was this confusing? Or did it almost turn you off buying? Or even more interested, DID it turn you off buying?

I've pasted a poll above, just out of interest.

It's great that Clickbank is now offering international currency, but I'm just wondering if displaying it automatically is affecting sales.

cheers
Sam

[Zach Booker]

I tested an affiliate link today and was blown away when I saw the price turn from 30 dollars U.S to almost 50 Canadian...
I don't know about actual customers, but If I was ready to buy a 30 dollar product I don't know how I'd feel if I than saw 50 dollars on the payment page.

Just my 2 cents, it might effect sales though.

Zach

[Harvey Segal]

Sam

A debate has started about this issue at
ClickBankSuccessForum.com :: View topic - Curency exchange over CB ordering form

I've added a link there to your question

Harvey


.

[rondo]

Can vendors select a default selling currency?

EDIT: Yes it seems they can

[oyebaz]

Its a thought but i think it will affect sales. i was wondering about that too,so it helps you brought it up.

Thanks,

Oyebaz
greatescape-2008.com/cpa_1

[David McGimpsey]

I think the feature is good, but maybe it shouldn't change to the customer's local currency automatically.

Maybe it would be better if it always defaulted to USD and the customer then has the option of changing it to another currency.

Being in a buying mood at USD$49.95 and then seeing the order page say AUD$80 is probably going to turn people off.

[James Schramko]

It doubles the price on everything with the Aussie dollar the way it is - "I'm paying THAT much?"

[Chris Lockwood]

I'm in the US, so I won't take the poll, but I'm curious WHY this would hurt sales if it really does.

Certainly people in Australia (for example) must know their dollar is worth less than the US dollar right now, so the price in Aussie bucks will be a bigger number. So why would having that displayed turn them off?

I've had many people email me asking how much my product is in South African pesos or British dinars or whatever, and I reply saying that exchange rates change all the time, and a quick Google search will show what today's rate is.

[James Schramko]

Because not that long ago it was almost 1:1 for the Aussie dollar and it is quite amazing how much the real cost is.

[ChristianM]

For the UK the price looks lower so i guess id be more inclined to purchase

[terryd]

Originally Posted by rondo

Can vendors select a default selling currency?

EDIT: Yes it seems they can

How do you set US as default?

[Kyle Tully]

Originally Posted by Chris Lockwood

I'm in the US, so I won't take the poll, but I'm curious WHY this would hurt sales if it really does.

Certainly people in Australia (for example) must know their dollar is worth less than the US dollar right now, so the price in Aussie bucks will be a bigger number. So why would having that displayed turn them off?

Sure, we "know" approx what the dollar is worth, but we don't really know. And we certainly don't want to be reminded.

It hurts sales for the simple fact that it's a bigger number, plus it's a reminder of the economic situation.

[samstephens]

One of the marketing "rules" that we learn very early on is the importance of psychological pricing.

If we price our products at $27, then suddenly see a price of $44.12 on the sales page, even though I know that's roughly what it'll come to, you've lost the "psychological price point".

That's what worries me a little.


Thanks for the link, Harvey, I'll check your forum out!

cheers
Sam

[Vyliss]

I know I got turned off when I went to pay for something that was $30, then at the Paypal screen it turned into $50+.. I hit the back button =P Gave me second thoughts.. I think it will definitely put some people off...

[Richard Daniels]

Yes. Losing the psychological price point makes a difference to conversion.

I've added a reply to their blog about this and written to their support team. I hope they'll see that this is one change that although done for the right reason was not really thought through from a "marketing" point of view.

They should allow the merchants to chose the currency they want to show in the purchase URL or within the product section of ClickBank.

I suggest that if you believe it has effected your business that you write to them and add a post to their blog.

[KarlWarren]

I haven't bought anything via clickbank, but here's a potential flaw and something that really annoyed me with 2co.

I have, say $50 in my paypal account and want to buy something that is $47.

The system decides that because I'm in the UK it wants to charge me in pounds.

The exchange rate being against me when buying means I pay more, and the funds come from my credit card despite the fact I have more than enough in my PP account to cover the purchase.

This actually happened with 2CO, I have a feeling it COULD happen with CB.

[Harvey Segal]

I asked ClickBank to clarify some points e.g the
meaning of default currency and here is their reply

"We implemented the ClickBank multi-currency order form to display currency based on the
consumer location to improve conversions. The converted amount a consumer sees on the
ClickBank order form is comparable to what they would pay by purchasing in USD and having
their credit card bank convert and mark-up the price into their local currency.

Any transaction involving a currency conversion is completed at a daily adjusted foreign
exchange rate determined by ClickBank. This exchange rate is higher than the wholesale
interbank rate to cover the costs of obtaining and managing the currency. As a result, the
exchange rate used at the time of purchase is guaranteed for the publisher, affiliate, and
consumer for the lifecycle of the transaction.

Please note the currency of purchase does not affect the amount of USD credited to your
ClickBank account for the sale. This amount is always based on your product's default
currency price (so if your product is default priced in USD, you will always earn the same
amount regardless of what currency the consumer selects).

Order form conversion rates generally improve when consumers are shown a price in their
local currency at check out. However, some publishers may prefer to have the default
currency selected for a product show for all consumers, regardless of location. This is
also possible. If you would like the currency conversion capability disabled for your
account(s), please contact ClickBank customer service
(Contact Us - ClickBank), and they can help you.

If you choose to have customer service disable the currency conversion feature in your
account, you can still offer products in different currencies. In this case, you simply
set up a unique product for each currency you wish to accept. For example, if you want to
offer the same e-book in USD and GBP, you can set up two separate products in the "My
Products" section of your account. Set up product 1 with a default currency of USD, and
product 2 with a default currency of GBP. When a consumer clicks a payment link for
product 1, they are shown the order form in USD at the price specified for product 1. If
they click a payment link for product 2, they see the GBP price specified for product 2.
In both cases, the consumer will not have the ability to choose a different currency for
payment.

Please don't hesitate to contact ClickBank customer support
(Contact Us - ClickBank) if you have further questions or
concerns."

My personal view is that
1. There should be an option to stop the local currency taking priority
(without having to write to ClickBank)
2. Yet the customer should still be able to use the currency conversion
feature

Harvey

[Richard Daniels]

Thanks for the info Harvey...

I got an email from Dush who works at CB who mentioned that I could request that the multi-currency functionality to be removed from my accounts.

I sent over all my accounts and Jennifer kindly froze the multicurrency feature for them all so that I could again use the USD price point.

However, this is only part of the solution... as you mentioned we need to be able to chose the currency that we want to show as default, and still allow the purchaser to chose if they want to purchase in a different currency by using the drop down on the order page.

[samstephens]

Jennifer also wrote back to my enquiry: the most obvious thing is that Clickbank are taking everyone's input VERY seriously.

There's nothing more refreshing than a responsive online business!


As an aside, once we have a little more control over how currencies are displayed, this can allow us to hit some specific markets out there, allowing people to pay in their own currencies.

cheers
Sam

[al_clark7]

Being from the UK I've been quite lucky. I've been buying things at almost half price for quite a while now, though it's not just as good now as it was a couple of months ago. From my point of view I think its pretty good, but if you're concerned I'm almost positive you can set it to stay in usd.

[howdo-i]

What ticks me off about this practice is the fact that I might WANT to pay in $US.

I'm in the UK and up until a few days ago the exchange rate dollars to pounds sterling has not been very good. I have a Paypal accoount that recieves some payments in $US which I can use to pay for things in $US avoiding the conversion cost.

If I want to purchase a CB product then the last thing I want is to be charged in pounds because when I pay with paypal my dollars are first converted to pounds minus a fee. CB have already added a fee to convert the price from $ to £ so I'm hit with a double whammy.

Good job I don't buy that much on CB.

Steve

[Martin Luxton]

After a lengthy period of stability, the Turkish lira lost 25% against the dollar in a few weeks so I have to renegotiate my budget with the boss.

I haven't bought on Clickbank recently, but yes, seeing the Lira price is good in one way because it will help me keep within my budget, on the other hand, I am buying less.

However, my dollar earnings will soon overtake my dollar expenditure so then it won't be a problem. And I think that is the crux of your question. For people making more dollars than they are spending this issue should be irrelevant. For people making a net dollar loss, it's very relevant.

Martin

[Tony Shepherd]

We just did a decent sized launch on Clickbank and the percentage of Non-US buyers has increased.

Now obviously there might be other reasons for this but it's worth mentioning.

Tony

[Nutrifitness]

hi
I had multicurrency disabled...now I am wondering if I should leave the option to allow the customer the opportunity to select the currency of their choice once they reach the order form.
any opinions?