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Your thoughts: Raising the price or limiting the # sold?

by Amber Jalink
9 replies
I will be putting out some special offers for my private subscribers over the next week, but it prompted me to get some opinions as I've seen various remarks on occasion in here.

When you see a limited time offer (as in limited in either days or the # being sold) to keep it maximized for those who take advantage of it, which do you prefer:

Having the price raised daily (or after x Sales) until the offer expires in a few days...

or

Having just a limited number sold (no price changes)?

I know we all see WSO's that have prices go up after so many people, but I've seen complaints on it (and some who refuse to buy because of that), so I thought I'd ask.

Yet others complain on occasion about the limited # sold. I know you can't please everyone :p LOL - but I'd like to get a "majority" of thoughts here...

So? What do you vote for? (Or hate?)

Amber
#limiting #price #raising #sold #thoughts
  • Profile picture of the author impact-productions
    If it's for your list, I'd suggest that you raise based on time. You're dealing with people in different parts of the world, who will see the emails at different times, so raising based on quantity will always disadvantage and alienate subscribers who aren't in your part of the world.

    Thom
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  • Profile picture of the author Amber Jalink
    Hi Thom - thanks for your reply.

    I am curious not just for my own list though - because lists change (i.e., new subscribers daily), and heck, there are so many WSO's out there, I thought perhaps it might be a good idea for everyone to know what preferences are

    Amber
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    • Profile picture of the author Amber Jalink
      I did also survey my subscribers (the votes are still coming in), but the majority say to keep it at one price point only and limit how many days it is available for... (2nd choice: keep it at one price but limit how many people can buy). The other two have almost no votes.

      Interesting.

      Amber
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      • Profile picture of the author WilliamBerg
        I agree that time is better factor. Just make sure you give people enough time to act before you start raising the price.
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  • Profile picture of the author N4PGW
    I don't like dimesales. For me, once you set a minimum price, unless it is truely introductory, it establishes the value of the product.

    If someone creates a new product and needs to recoop their investment, then offer a $47 product for $17 until you recoop and then raise it FOREVER! If I see a product that was $5, then 7 and now is 10, I am subject to buying a competitor's product for $17 that didn't go up periodically than I am ever likely to buy the mobile pricing product.

    I see false scarcity in the IM niche so often it discredits the user of it to me. If you are offering RR or PLR, then you can limit the number of sales for a reason. But if it is for personal use and does not involve your personal interaction with the buyer, why limit it? Just offer it for $17 for a few weeks, or a month and then raise it to $47 and leave it there. If it is worth something now, it will be worth something 12 months from now.

    That's my opinion.

    FWIW
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    • Profile picture of the author Amber Jalink
      Originally Posted by N4PGW View Post

      I don't like dimesales. For me, once you set a minimum price, unless it is truely introductory, it establishes the value of the product.

      If someone creates a new product and needs to recoop their investment, then offer a $47 product for $17 until you recoop and then raise it FOREVER! If I see a product that was $5, then 7 and now is 10, I am subject to buying a competitor's product for $17 that didn't go up periodically than I am ever likely to buy the mobile pricing product.

      I see false scarcity in the IM niche so often it discredits the user of it to me. If you are offering RR or PLR, then you can limit the number of sales for a reason. But if it is for personal use and does not involve your personal interaction with the buyer, why limit it? Just offer it for $17 for a few weeks, or a month and then raise it to $47 and leave it there. If it is worth something now, it will be worth something 12 months from now.

      That's my opinion.

      FWIW
      N4PGW - I like your remarks, I always felt that way too with "raising prices".

      The only thing about scarcity, is to me it depends... as long as a person actually STICKs to it.

      i.e., I sometimes sell ad deals - I HAVE to limit or I lose... (or oversell, which I don't want to do).

      But from an info product or software standpoint, I think it depends. If its just a scarcity tactic - like the "only 50 available" (and then the price goes up for the next 50 when the implication was that it was cut OFF at 50) then to me that's a complete lie and should not be allowed (or used).

      However, I have seen some cases where (even in WSOs), they set a limit to keep the competition low, and they stick with it. THAT I like, and agree with.

      But if you aren't going to stick with it, then don't offer it to start with.

      Amber
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  • Profile picture of the author paul wolfe
    Perhaps another way you could do it is to create a time limited bonus.

    So if your subscribers buy within the proscribed time period - say 7 days - then they get a bonus. Once the time period expires the bonus disappears.

    I've used that and it works well.
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    • Profile picture of the author N4PGW
      Originally Posted by dimeco View Post

      N4PGW - I like your remarks, I always felt that way too with "raising prices".

      The only thing about scarcity, is to me it depends... as long as a person actually STICKs to it.

      i.e., I sometimes sell ad deals - I HAVE to limit or I lose... (or oversell, which I don't want to do).

      But from an info product or software standpoint, I think it depends. If its just a scarcity tactic - like the "only 50 available" (and then the price goes up for the next 50 when the implication was that it was cut OFF at 50) then to me that's a complete lie and should not be allowed (or used).

      However, I have seen some cases where (even in WSOs), they set a limit to keep the competition low, and they stick with it. THAT I like, and agree with.

      But if you aren't going to stick with it, then don't offer it to start with.

      Amber
      Scarcity, as in your discount price for services, etc. is not a problem to me. False scarcity, something designed to rush people into buying for no better reason than to rush them is what I hate. IPK just pushed a "10 days for $37.00" sale. For two days it went back up to $77 and is now back down to $37 where it has been for about a month now.

      Some people only sell a product for a period of time and take it off the market. Unless it can really get watered down like PLR, or it involves the sellers time, such as personal coaching, why take it down at all. Offer a periodic sale and honor it. I understand the principals of raising money!

      To me dime sales suck! If I see a $77 product for sale starting at $2.00 and raising every so often until it reaches its full price, I see a $2.00 product being sold for way more than it is worth.

      Subscriptions are different, for example if you are offering RR and PLR products and offer $5.00 to get so many members, then raise based on the number of members, it makes sense as your inventory will progressively increase each month with along with your ability to buy more per month.

      Well, time for me to go to work.





      Originally Posted by paul wolfe View Post

      Perhaps another way you could do it is to create a time limited bonus.

      So if your subscribers buy within the proscribed time period - say 7 days - then they get a bonus. Once the time period expires the bonus disappears.

      I've used that and it works well.
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  • Profile picture of the author Paul Barrs
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    • Profile picture of the author Amber Jalink
      Originally Posted by Paul Barrs View Post

      Amber,

      Forgive me for asking the obvious... but why don't you ask your "private subscribers" what *they* would prefer?

      Offer the added incentive that for those who reply to your question / poll (and register separate list) that they will get a 6 hour head start before everyone else. That creates urgency in the survey as well.

      - Paul Barrs

      Hi Paul - I did actually ask my subscribers what they prefer and the results have been interesting (but not surprising), the absolute majority do not like price raises. They only want it restricted in time or restricted in number (time was #1, # was second).

      Your incentive idea though is a good one, I didn't think of that (for filling out the survey).

      I did post here though because I *also* wanted WF members opinions as well. I've considered creating a WSO at some point and thought if I do, I'd like to know what others really do think about the rising price every so many sales... plus maybe others who do a WSO might see this and think about how they're going to do it as well based on responses.

      Amber
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