Is $5.00 the new sweet spot?

[Michael Motley]

I know most of programs or e-books that come out are usually 9.99 to 14.99 it seems. I notice lately that on a lot of commercials for restraunts that $5.00 seems to be where they are focusing their marketing efforts for sales. For places like subway, they have been doing that for a while, so im going to guess that its probably working well for them. I wonder if something like that (dropping the price but make up for it in volume, or upsells with a base of $5.00) would be a good thing too for IM or niche marketing efforts

[Richard Odell]

Originally Posted by Michael Motley

I know most of programs or e-books that come out are usually 9.99 to 14.99 it seems. I notice lately that on a lot of commercials for restraunts that $5.00 seems to be where they are focusing their marketing efforts for sales. For places like subway, they have been doing that for a while, so im going to guess that its probably working well for them. I wonder if something like that (dropping the price but make up for it in volume, or upsells with a base of $5.00) would be a good thing too for IM or niche marketing efforts

If your going sell low, price it at around a the price of a pack of cigarettes.

Wanna jack it up in stages?

Always give a price comparison "Less than the price of....." and jack it up compared to a well known regular purchase.

Its century old advertising ploy; its only in this era that they call it "Price comparison".

All the major stores and brands employ it, even more so in a recession.

Rich

[One Inch Punch]

Originally Posted by Michael Motley

I know most of programs or e-books that come out are usually 9.99 to 14.99 it seems. I notice lately that on a lot of commercials for restraunts that $5.00 seems to be where they are focusing their marketing efforts for sales. For places like subway, they have been doing that for a while, so im going to guess that its probably working well for them. I wonder if something like that (dropping the price but make up for it in volume, or upsells with a base of $5.00) would be a good thing too for IM or niche marketing efforts

I think it's really dependant on the product. I think if you were selling "The Definite Guide To C++ Programming" and it was $5.00, people would undervalue what you are selling and assume it must not be that good. But you could sell a mini-report for $5 as an entry point to your sales funnel and then upsell the higher priced guide.

[Scott Woodside]

My big mistake was undervaluing my professional services. I thought I could sell in more with a lower price. Not the case. Most of my prospects ended up going elsewhere and paying more.

Now that I have doubled and tripled my prices and charge what I should be charging, my business is increasing.

Amazing, but true!

BLOGCAST.SCOTTWOODSIDE.COM: New take action audio for a free report! Listen

[Scott Woodside]

My big mistake was undervaluing my professional services. I thought I could sell in more with a lower price. Not the case. Most of my prospects ended up going elsewhere and paying more.

Now that I have doubled and tripled my prices and charge what I should be charging, my business is increasing.

Amazing, but true!

BLOGCAST.SCOTTWOODSIDE.COM: New take action audio for a free report! Listen