ClickBank switching BACK to multiple currency ...

15 years ago

I have seen increased sales lately therefore I am sure clickbank is doing something for sure. And further research is a great move.

Thanks

Signature

^^^Click The "UGLY BANNER" to "MAKE MONEY"^^^

{{ DiscussionBoard.errors[423384].message }}

Thomas

15 years ago

Here's what the V.P. of Operations at Clickbank has said about it:

"In October 2008, ClickBank implemented a multi-currency capability to process orders in currencies other than U.S. Dollars (USD). At the same time, the global economy experienced the largest economic downturn in the last 70 years and currency exchange rates experienced extreme fluctuations. ClickBank always monitors order form conversions to detect any changes in consumer behavior. We noticed a decrease in order form conversion rates around this time and assumed this was driven by changes in the global economy. We monitored order form conversion rates daily and did not observe any significant variations by either currency or by country.

During this time, we had requests from some of our clients to deactivate the multi-currency capability in their accounts, which we did. Some clients believed the variations in conversion rates were caused by our implementation of this multi-currency capability. With all of the events taking place in the global economy at that time, it was impossible to determine the cause of the changes.

In December, as the global economy and currency exchange rates became less volatile, we executed multiple split tests to determine the impact of displaying the consumer's local currency, determined by their IP address (IP Geo), on the order form. In all instances, the consumer was presented with the currency selection drop down on the order form. These tests were only conducted for those products that still had multi-currency activated. Here was what we found:

The tests showed no significant difference in order form conversion rates with IP Geo turned on or off.

When IP Geo was turned on, we saw a significant increase in consumers ordering in their local currency.

One test showed a slight improvement in order form conversions when the default currency of the product was shown alongside the consumer's local currency.

One key thing to note was that during the period of split testing, we observed lower order form conversion rates for those accounts with multi-currency capability deactivated. Of course, we understand that since these accounts were not part of the actual split test, there likely were other outside factors contributing to these results, as well.

In addition, we analyzed the return rates for all orders purchased using the consumer's local currency. We saw a significant reduction in refunds when orders were placed in the local currency of the consumer.

Based on the results of our testing, we plan on reactivating the multicurrency functionality for your products on Friday, January 16, 2009, unless we hear differently from you before that time. In addition, the order form will now show the default currency of the product alongside the consumer's local currency, which will help alleviate concerns around pricing psychology."

(I bolded and underlined that last sentence - Tommy)

Thanks

{{ DiscussionBoard.errors[423720].message }}

JayXtreme

15 years ago

My products will all be released away from clickbank..

Independent.. R.A.P, $7 secrets..etc

I can market for affiliate's myself with conversion results and stats to show in detail...

Personally, I don't want the hassle of going through clickbank

Peace

Jay

Thanks
2 replies

Signature

Bare Murkage.........

{{ DiscussionBoard.errors[423798].message }}

cotum

15 years ago

Originally Posted by JayXtreme

My products will all be released away from clickbank..

Independent.. R.A.P, $7 secrets..etc

I can market for affiliate's myself with conversion results and stats to show in detail...

Personally, I don't want the hassle of going through clickbank

Peace

Jay

Amen, brother.

I am tired of Clickbank as well. Almost $600 lost in refunds this past month - not one single person that asked for a refund stated that they even tried one thing from a book that's nearly 100 pages long. A lot of the refunds are from foreigners who expected to pay the amount shown on the website... thanks so much Clickbank for charging VAT!

With PayPal and others I can make the refunds harder to get (i.e. "Write down what you tried every day for 2 weeks, if it doesn't work you get your money back") and have found that decreases refunds a LOT.

I just looked today at all my accounts - over $3300 lost in refunds since 2006. Disgusting.

BTW, one effective tactic to reduce these parasites is to take the emails of everyone that ever got a refund from you and blacklist them (I use GetResponse, but I'm sure other autoresponders have a similar feature). Good riddance!

Thanks

Signature

Paranormal Swipe File - Occult Secrets of Copywriting Revealed!

{{ DiscussionBoard.errors[423882].message }}

Alex Sol

15 years ago

Originally Posted by JayXtreme

My products will all be released away from clickbank..

Independent.. R.A.P, $7 secrets..etc

I can market for affiliate's myself with conversion results and stats to show in detail...

Personally, I don't want the hassle of going through clickbank

Peace

Jay

That's the way to go, brother!
It is also much more profitable in the long run (think 7.5%+1$ Clickbank fee)...

I presume more and more folks will go with independent instead of Clickbank and other networks.

Thanks

Signature

Alex Sol, Full time online marketer since 2007
The Extra Paycheck Blog | Extra Paycheck Podcast

{{ DiscussionBoard.errors[423894].message }}

rondo

15 years ago

" In addition, the order form will now show the default currency of the product alongside the consumer's local currency, which will help alleviate concerns around pricing psychology."

I think that's a much better solution. Thanks for posting.

Andrew

Thanks

Signature

Online courses

{{ DiscussionBoard.errors[423900].message }}

GarrieWilson

15 years ago

I told them I still wanted to opt-out of GEO IP pricing but still allow the buyer the option to change currency.

I also think their split testing is flawed.

CB split test ALL orders but I would be willing to bet if they split test by category, the results would be different and if they split tested by account, it would also be different.

I say this because B2B people different than B2C.

I wish there was a way for us to test our own accounts - easily.

Garrie

Thanks
1 reply

Signature

Screw You, NameCheap!
$1 Off NameSilo Domain Coupons:
SAVEABUCKDOMAINS & DOLLARDOMAINSAVINGS

{{ DiscussionBoard.errors[424004].message }}

Nutrifitness

15 years ago

Originally Posted by GarrieWilson

I told them I still wanted to opt-out of GEO IP pricing but still allow the buyer the option to change currency.

I also think their split testing is flawed.

CB split test ALL orders but I would be willing to bet if they split test by category, the results would be different and if they split tested by account, it would also be different.

I say this because B2B people different than B2C.

I wish there was a way for us to test our own accounts - easily.

Garrie

hmmm...now I don't know what to do again...leave it as is...I have my set let yours right now...when are they implementing this ?
I wonder what others suggest?

Thanks

Signature

Georgette Pann
http://thefitnessbootcamp.com
http://fitnessbootcampworkout.com
http://fitnessbusinessapps.com -new

{{ DiscussionBoard.errors[427306].message }}

ClickBank switching BACK to multiple currency ...

Trending Topics

Been a while! Any of you Old Timers here?

How much does the rebranding affect CR ?

Are billboards still effective in driving customers?

Boat and Jet Ski Rentals...... Door Hangers Effective?

Clickbank low cost recurring