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Price Advice

by harrygoldwin
12 replies
Hi,

I'm almost at the end of my product creation process and have developed a new product called PC Health Check Unleashed. (can be found at .com)

I don't want to promote this too much just now as it's not complete but when it's done, it will be amazing. Still need to design a few more graphics and streamline my pitch page and then start writing some articles etc.

but anyway: -
In short - the product is a set of training videos and manual teaching the process of a PC health Check and how it can speed up your computer.

My initial thoughts were to charge £100 for the product but thought that maybe this was too high. Do you think that 39.99 is a reasonable amount and 60% commissions?



Would really appreciate your input - good and bad.
#advice #price
  • Profile picture of the author yesacpow
    Well that depends on a lot of factors and only you alone can determine the true value of the product.

    It's not just about how much is inside the product but also the quality of what's inside. If the videos and instructions can be found easily online then selling it at a higher price may not work out so well.

    Best thing to do is to test several prices and go with the one that converts the best.

    Hope that helps.
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  • Profile picture of the author Andy Crofford
    Originally Posted by harrygoldwin View Post

    Hi,

    I'm almost at the end of my product creation process and have developed a new product called PC Health Check Unleashed. (can be found at .com)

    I don't want to promote this too much just now as it's not complete but when it's done, it will be amazing. Still need to design a few more graphics and streamline my pitch page and then start writing some articles etc.

    but anyway: -
    In short - the product is a set of training videos and manual teaching the process of a PC health Check and how it can speed up your computer.

    My initial thoughts were to charge £100 for the product but thought that maybe this was too high. Do you think that 39.99 is a reasonable amount and 60% commissions?



    Would really appreciate your input - good and bad.
    I look at it this way, for £100 I could easily pay a professional to come to my home and pay them to tune my PC up and do various checks and ask for tips on keeping it in good shape.

    Your price of $39.99 is much more reasonable and an amount I don't think people would mind spending to learn how to do some things themselves.
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    • Profile picture of the author harrygoldwin
      Thanks for the 2 comments. In reply.
      Everything has been designed and created from scratch. All the videos have been made and is the result of about 8 months hard work. They cannot be found anywhere else on the internet as I've made them.

      What's the best way to let people know about the launch of the product. I've heard JVnotify mentioned but haven't a clue what it is. I've also been previously advised to not put it onto clickbank straight away and offer the product to people with lists first or do a promo of somesort.
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      • Profile picture of the author ConnorMcCreesh
        Hey there buddy,

        Price is a very difficult one to get right. If you can find a forum that would be interested of that you could sell on, I would suggest going in low (under $10), this is because you will start to build up social proof in the form of testimonials.

        More testimonials means you can up the price with justification and people will continue to pay.

        Off course from a website it is not such a social place. Have you looked at any similar competing products? How much are they selling for? How much traffic are you getting? Is it costing you anything? What are your conversions?

        All of these need to come into account to allow you to find the balance between covering your investment, and having the price low enough that people buy it.

        For example if you sold at $50, you would not necessarily get twice the amount of sales if you started selling at $25 (you may get more), and the same again if you sold at $12.50. There will be a price for the market.

        I know for IM that eBooks will sell for up to about $27, video courses up to about $47 and software up to about $57. Now this will be different for your niche but you should still look into it regardless.

        Hope some of this helps,

        Kind Regards,
        Connor
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        • Profile picture of the author Alexa Smith
          Banned
          Harry, I think you should give prices in US$ rather than in £. This is normal and customers (including UK residents like you and I) expect it.

          As you can see just from the posts above, one or two people here have already misunderstood you and assume that you're talking about $39.99 when you're actually talking about £39.99, which is $60. I think you should show your price as $59.99 (or $59.97 or whatever - maybe $57).

          It may come across as expensive. You can determine the right price only by testing. Many "apparently similar products" cost $37 or $47, or $39 or $49, or $39.97 or $49.97.

          But at any of these price-points, offering 60% commission ought to be "in the ball-park", in itself, for attracting potential affiliates.

          If you'll excuse the observation, the sales copy could use a Major Re-Think.
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  • Profile picture of the author Marketing Cheetah
    Whatever you keep the price. Make sure to use the last digit as "7" or "9". They are naturally eye catching. I would recommend to start with an average price and if your product gets popular then increase the price slowly.
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  • Profile picture of the author Daniel Harper
    Are these just training videos or is there software involved?

    Because honestly, for $60, I just want something I can download or put in my drive and let it do the work for me.
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  • Profile picture of the author Loren Woirhaye
    I didn't watch the videos, but the sales copy is not likely
    to succeed in converting at a premium price.

    That's putting it mildly. I wouldn't expect conversion at
    your present price.
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    • Profile picture of the author Claude7
      For what it's worth your product is only worth what some one will willingly pay for it..

      I made a big mistake 2 years ago launching my sales product @ £100 and hardly any sales so I would say cut it down and offer a part of it as low as you can just to get people paying money and using it then offer the full version for a higher price or free with a time bomb after 7 days then full price if they want it.

      I hope this helps :-)
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  • Profile picture of the author Stephen Dean
    A price test is essentially always needed for a new product. A unique product with a unique offer and a unique sales page is going to require it's own test.

    But you can look around to see what similar products are priced at. and pay attention to the ones that are obviously successful. That means looking for products that are supported by paid advertising for a good amount of time.

    (If the product isn't selling, then the paid advertising would stop. So it's a good indicator.)

    To test it, set up several payment links and plug them in to Google Optimizer or something similar. Then don't go with what converts best, go with what is the most profitable.

    So instead of:

    sales/visitors = x%

    it's

    sales/visitors * price = $x

    Cheers,
    Stephen Dean
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  • Profile picture of the author clever7
    You should sell your PC health checker based on the prices your competitors are selling similar products, based on the efficiency of your method, and based on its perceived value. The perceived value is the value that a customer gives to a certain product. It doesn’t depend on the product itself, but on its image.

    Most people don’t think that they should spend a lot of money with a health checker. Even if your method is fantastic and helps the user in many more ways, he or she won’t believe that it has such value because there are more than too many health checkers online. This is not something that will help them earn any money or something like that. They simply will be able to work faster. Thus, your product cannot be expensive.

    On the other hand, everyone believes that ‘you get what you pay for’. So, it can’t be too cheap either. Otherwise, your customers will underestimate your product. You have to find a balance.

    You have also to consider your expenses, and many other details to see if you will be compensated for doing everything you have to in order to promote this product.

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    • Profile picture of the author harrygoldwin
      Thankyou everyone for your kind comments. A lot for me to consider!
      Clickbank have approved my product so i've just got to follow your advice now.
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