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Unread 10th February 2009, 11:55 PM   #1
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Default prices in US$ or EURO

Hi, being very new to the business I am wondering if I should list prices on my website in US$ or EURO.
I am starting a membership site that focuses on an international public. The site will be completely in English. All sites I have seen have their prices in US$. For me being from Europe this would mean that my income is influenced by the exchange rates. On the other had I am afraid that when I would use EURO prices a lot of potential customers will not sign up.

What are your thoughts about this.

Thanks
Paul
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Unread 11th February 2009, 12:15 AM   #2
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Default Re: prices in US$ or EURO

We are from Australia but we use US dollars as most people seem comfortable with it. We have had a few Australian Santa Letter clients knowing we are an Australian site, get a bit peeved with the US dollars, but we always give them the alternative of sending us a cheque. That way, they feel as though they have a choice!

Depending on the rate of exchange, we can sometimes make a few dollars more. Always a nice thing!

If it is going to be international, you might be better with US dollars

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Unread 11th February 2009, 12:55 AM   #3
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Default Re: prices in US$ or EURO

I don't know in which niche you are, but I get most customers from US. So, all my prices are us US$.

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Unread 11th February 2009, 01:00 AM   #4
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Default Re: prices in US$ or EURO

If you're selling globally, I'd def go $US, as it is the most widely recognized unit. I'm getting killed on the exchange rate when I bring my $US over to here (used to get 130 yen to the dollar, now it's 89), but if I change to a different unit I'll be losing a lot more in sales.

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Unread 11th February 2009, 01:27 AM   #5
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Default Re: prices in US$ or EURO

Quote:
Originally Posted by Kevin Riley View Post
If you're selling globally, I'd def go , as it is the most widely recognized unit. I'm getting killed on the exchange rate when I bring my over to here (used to get 130 yen to the dollar, now it's 89), but if I change to a different unit I'll be losing a lot more in sales.
Shitty deal Kevin...

In Canada we get $20 for every hundy right now...

Although it was at par there for a while.

I loved it when it was an extra $40 on the hundred, way back!

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Unread 11th February 2009, 01:32 AM   #6
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Default Re: prices in US$ or EURO

If you use 2Checkout, your customers will
have the ability to choose the currency.

The US Dollar is certainly becoming the
standard online currency of choice.

However, giving people the option to use
their local currency will almost certainly
increase your sales conversion rate.

John

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Unread 11th February 2009, 02:30 AM   #7
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Default Re: prices in US$ or EURO

If you sell though ClickBank, you set the price in US$ but when a customer clicks through to the order form, ClickBank show the price in their local currency.

I quite like that they now do this - and despite initial worries that it may harm conversions, it doesn't appear to (for me, at least.)

However, it would be quite good (perhaps - worth testing anyway) to show the price in local currency on the sales page as well. Does anyone know of a script that can geo-locate the visitor and perform a conversion on the fly?

Martin

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Unread 11th February 2009, 02:33 AM   #8
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Default Re: prices in US$ or EURO

The answer is simple: do niche/market research.

Basically, check out your competion sites and see what market/audience/currency they are using and go with your well researched currency .

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Unread 11th February 2009, 02:58 AM   #9
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Default Re: prices in US$ or EURO

Martin,

Quote:
Originally Posted by Martin.Avis View Post
Does anyone know of a script that can geo-locate the visitor and perform a conversion on the fly?
Here's a useful blog post that explains how it can
be done:
Geotargeting with PHP : A complete guide

John

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Unread 11th February 2009, 06:08 AM   #10
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Default Re: prices in US$ or EURO

Pople who buy online prefer the price to be in USD, at least me and few of my friends
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