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Payment model of $1k price software? Need suggestion

by visimedia
11 replies
Hi mates,
I'm about to launch my software, but it will be sold around $1k... I know it's a cool software (related to traffic generation) and it'll make the buyers happy (all of the owners are now happy to pay that amount of money)...

I know it's not for everyone (because of the price), but is there any ideas that you can help me related to payment model? Pay in installments or something?

Need your help here...
#$1k #model #payment #price #software #suggestion
  • Profile picture of the author CyberAlien
    There are a lot of great softwares out there and I'm not saying that yours isn't worth $1000, but there aren't a lot of people that could afford that type of investment. Sure, some of us could but you would be losing out on a huge market.

    Why not offer it for $1000 upfront or let people just pay like $100/month to use? If it works well then in the long run you would make more money because people would use it longer than 10 months. Plus, you would have more people using it.
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  • Profile picture of the author ManageWP
    We have experience selling $3k-$10k software (our enterprise product) and I can say that if someone needs it badly, the price is not important (as long as the value offer is greater)
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  • Profile picture of the author EdHanson
    I also have expirience in selling high priced products.

    As "ManageWP" writes if its needed badly the price doesnt matter.

    But from my short time on WF I dont think you will sell much here.

    Without knowing anything from your software its hard to say what YOU can do.
    I can only tell you what I did for selling my €600 (~$1000) product.

    My programmer made my licensing very "flexible".
    I can limit the usage to x times/starts
    I can limit the usage to x days/week or month
    I can limit the runing time
    I can limit the functions e.g. only use 1/5/10 or unlimited accounts

    This made it possible to actually sell the product to any user for different prices. I have 5 prices and also a monthly fee. The product has 3 skins and 3 colors (basic,normal,enterprise).
    Once a month I send an email to all users (based on what product they have) and offer a time limited upgrade to the next higher edition and on request also a enterprise edition with a special upgrade price/discount.

    Maybe this gives you some help.
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  • Profile picture of the author EdHanson
    wierd - sorry double post
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  • Profile picture of the author Chris Webb
    Part payment plan is definately a good idea for the "scared it won't be worth it" crows.

    Best thing you can do is dollarise the value for your prospect - how will they make $10,000 by investing in your product?
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  • Profile picture of the author RAMarketing
    Start a free webinar showing you using it, create an affiliate promote and offer $1000 lifetime or $150 per month. Gather your data and use a major cpa/cpl network if the launch goes well.
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    • Profile picture of the author Kevin Riley
      Gotta agree with RA Marketing. A good webinar will do a good job of selling a product in that price range. Myself, I've paid much more for the right product when shown what it will do for me.
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  • Profile picture of the author gotti3636
    Don't worry about it being at a high price, as long as you deliver good value then people will happily pay for it The key for you will be to find affiliates/JV partners who have lists that respond well to higher price points.

    As far as conversions go....even if you only convert at 0.5% then you are still way ahead financially than selling it cheap. The best part is that you then get to have your own list of high ticket buyers which you will find is much better than a list full of people struggling to pay $7 for something that is really worth a lot more

    I suggest offering a $1000 one time payment or 3 installments at $400 each. This will entice people to pay the $1000 as it will save them $200 but it still gives people who can't afford it the option.
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  • Profile picture of the author mgkimsal
    I'm confused...

    If all of the current users are "happy to pay that price", why are you concerned with offering payment plans or even worried about people who can't afford it? You've found people who are using it and apparently OK with the price - why not just do more of what you did to find those types of users/customers? What am I missing?

    Get testimonials/referrals from the current users to help bolster your marketing efforts. If the current users really like it and are willing to pay $1000, get them on record as saying so.
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  • Profile picture of the author cardine
    I'd consider offering it to the user for $100/mo. Lots of people spend $100/mo for software and it seems a lot less risky to people as paying a lump sum of $1000. Then plus if your users are satisfied with the software you will make more money from them in the long run anyways.
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  • Profile picture of the author visimedia
    Ya, a webinar !!! u're right.... Actually this payment option I asked your opinion here is the one I offer people to review it in my signature.....

    I hope I can arrange a webinar about this.. so I will need to throw away good content.
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