prices in US$ or EURO

Pagode · 02-10-2009, 10:55 PM

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

Rose Rushton · 02-10-2009, 11:15 PM

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

dmarze · 02-10-2009, 11:55 PM

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

Kevin Riley · 02-11-2009, 12:00 AM

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.

Jamie Iaconis · 02-11-2009, 12:27 AM

Quote:

Originally Posted by Kevin Riley

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!

John Taylor · 02-11-2009, 12:32 AM

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

Martin.Avis · 02-11-2009, 01:30 AM

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

Mint-Tree · 02-11-2009, 01:33 AM

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

.

John Taylor · 02-11-2009, 01:58 AM

Martin,

Quote:

Originally Posted by Martin.Avis

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

Ivancho · 02-11-2009, 05:08 AM

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

02-10-2009, 10:55 PM	#1
Pagode Warrior Member Join Date: Feb 2009 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts	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

02-10-2009, 11:15 PM	#2
Rose Rushton Warrior Member War Room Member Join Date: Jun 2007 Location: Eumungerie,N.S.W , Australia. Posts: 27 Thanks: 5 Thanked 0 Times in 0 Posts Social Networking	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
	Give me a home among the gum trees

02-10-2009, 11:55 PM	#3
dmarze Advanced Warrior War Room Member Join Date: Apr 2008 Location: USA Posts: 659 Thanks: 14 Thanked 67 Times in 29 Posts	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$.
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02-11-2009, 12:00 AM	#4
Kevin Riley Clockwork Hamster King War Room Member Join Date: Dec 2005 Location: Beautiful Downtown Osaka, Japan just minutes away from all the Sushi, Okonomiyaki, and Izakayas Posts: 9,582 Blog Entries: 2 Thanks: 538 Thanked 1,709 Times in 597 Posts Social Networking Contact Info	Re: prices in US$ 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 $US over to here (used to get 130 yen to the dollar, now it's 89), but if I change to a different unit I'll be losing a lot more in sales.
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02-11-2009, 12:32 AM	#6
John Taylor Recovering Millionaire War Room Member Join Date: Jun 2003 Location: Wandering... Aimlessly... Posts: 10,131 Blog Entries: 3 Thanks: 1,319 Thanked 2,645 Times in 703 Posts Social Networking Contact Info	Re: prices in US$ 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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02-11-2009, 01:30 AM	#7
Martin.Avis The dot is silent War Room Member Join Date: Jul 2003 Location: Sunny Sidcup, United Kingdom. Posts: 1,914 Thanks: 163 Thanked 854 Times in 264 Posts	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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02-11-2009, 01:33 AM	#8
Mint-Tree Advanced Warrior War Room Member Join Date: Feb 2007 Location: Coming near you... Posts: 726 Thanks: 19 Thanked 7 Times in 7 Posts Social Networking Contact Info	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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02-11-2009, 05:08 AM	#10
Ivancho Advanced Warrior War Room Member Join Date: Nov 2008 Location: UK Posts: 780 Thanks: 2 Thanked 309 Times in 55 Posts Contact Info	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