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Average Conversion Rates For Different Price Points

by MarketingVet09
8 replies
While I know the results can vary greatly... I wanted to get you guys opinion from your experiences, and a general consensus, on typical average conversion rates for a paid digital product using the following variables:


Lets say there is an item of great quality.. Something desired by the target audience / niche, and the traffic being driven to the offer is LASER targeted (let's say key word search, specifically looking for this type of item)..

What would you guess are average conversion rates for the following price points (the value of the imaginary product changes with each price point... So I don't mean selling a $60 item for $10.. Just imagine a different item for each price, if that makes sense. If it helps, you can imagine the products as Ebooks / Self help products):


$10 - $12

$20 - $30

$45 - $60



Basically.. I know conversion rate is going to change drastically depending on how affordable a product is, so wanted you guys input from experience... Or if you don't have experience with a price point above, give a guestimate based off your experience from other price points.
#average #conversion #points #price #rates
  • Profile picture of the author Scott Murdaugh
    Prices don't mean anything.

    It's a perceived value game.

    If you can convince me that I'm getting $2k worth of value at $197, I'll probably buy.

    If I think a $10 report is worth $1, I'll probably pass.

    Too many variables in the sales funnel to even come close to an educated guess.
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    • Profile picture of the author MarketingVet09
      Originally Posted by Scott Murdaugh View Post

      Prices don't mean anything.

      It's a perceived value game.

      If you can convince me that I'm getting $2k worth of value at $197, I'll probably buy.

      If I think a $10 report is worth $1, I'll probably pass.

      Too many variables in the sales funnel to even come close to an educated guess.

      Well, as I tried to make as clear as possible, the value and "perceived value" will fluctuate with the costs...


      If the report is $10, The perceived value is $50

      If the ebook is $30, the perceived value is $150



      I've seem similar threads in the past that just go, "whats a good conversion rate", and they got plenty responses.

      I'm going in much more detail and saying the quality of the traffic etc.

      Of course I know the only way to get exact numbers is to put it out, but if people got in depth answers before with 1/5th the detail I'm providing, I know I can.


      And frankly, price does matter. If I sale a house and get .001% conversion rate, vs selling an ebook and getting 10% conversion rate... I'll make more money selling the house.
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      • Profile picture of the author Bruce NewMedia
        First, it's pure speculation what an 'average conversion rate" should be.(price ranges aside) Not possible, and I have sold more products than I can even remember. It's just playing a guessing game, so of no value.

        And speaking of 'value', SAYING something has a 'perceived value' is not meaningful either, since the perception must occur in the prospect's mind, not the product creator's.

        I, as a product creator/advertiser may be sure my product has a perceived value of $150, but prospects may only see it as a $30 value, and act, or not act, based on that perception.

        BTW, the threads you see that get responses to the question, .."What's a good conversion rate?" are usually answered by experienced sellers with:

        There is no such thing, it depends on too many variables. Even low price vs. high price does not indicate a specific, good conversion rate. IMO, the internet provides such a cheap way to test, it's better to test than talk about this.
        _____
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        Originally Posted by MarketingVet09 View Post

        Well, as I tried to make as clear as possible, the value and "perceived value" will fluctuate with the costs...


        If the report is $10, The perceived value is $50

        If the ebook is $30, the perceived value is $150
        I've seem similar threads in the past that just go, "whats a good conversion rate", and they got plenty responses....
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    • Profile picture of the author ryanmilligan
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      Originally Posted by Scott Murdaugh View Post

      Prices don't mean anything.

      It's a perceived value game.
      Exactly this...

      ... If people think they are getting $5000 worth of stuff for $1000, they are going to be super happy.

      You just need to make sure to give extreme value and then under-price the item.
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  • Profile picture of the author Scott Murdaugh
    Again, too many variables in the sales funnel to guess.

    Also, don't worry about conversions. Worry about ROI.

    How are you pre-selling? What's your USP? If your competitor is selling at $10 when you're selling at $60 what's a good reason to buy from you? What can they get from you that they won't find anywhere else?

    On top of that, what's the backend?

    If your back-end is solid, it's going to payoff to give a loss leader upfront and make up for it in the back.

    I'm not trying to be rude.

    Asking people to guess conversion rates, even if you had a round-table of expert copywriters, is an exercise in futility.

    Focus on ROI.

    Usually the smartest path to maximizing that is getting as many qualified people in the front door as possible (even at a loss) and making your money on the back-end.

    I know price matters. I've sold houses and e-books, just FYI. I've worked in some of the biggest launches in this business...

    ...And we don't care about conversions. We care about ROI.

    You'll probably get plenty of responses.

    Whether they hold any weight is another question.

    I'm just trying to explain that conversions, on the front-end, is the wrong question to worry about. ROI and customer LTV is where you want to focus.

    It's late, I may come across as cranky, but honestly trying to help.
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  • Profile picture of the author MarketingVet09
    Actually Bruce, most responses are people responding with their actual experiences.


    If I've never seen a baseball game before in my life, and I say, "what's the average batting average"...

    The easy thing to do is say... Maybe around .280 or .300 (even though It can range from .150 to .400)...


    The unhelpful thing to do is to come say, "I can't tell you an average batting average, it varies too much... the hitter... speed of the pitch... the weather outside..."...


    I've clearly stated in the opening post that I KNOW there are thousands of variables for conversion rate, but that does not mean a general / average quote, at least from ones PERSONAL EXPERIENCE, wouldn't be helpful.


    "How much are name brand athetlic shoes?" "average $70 to $90"...


    It's not beyond me that they can range from $40 to $200 also...



    For anyone who proceeds to post in the thread, speak on your personal experience with conversion rates. If you don't have anything to speak on that, it's better if you don't say anything at all.


    Thanks
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    • Profile picture of the author Bruce NewMedia
      Originally Posted by MarketingVet09 View Post

      Actually Bruce, most responses are people responding with their actual experiences.


      ...The unhelpful thing to do is to come say, "I can't tell you an average batting average, it varies too much... the hitter... speed of the pitch... the weather outside..."...

      For anyone who proceeds to post in the thread, speak on your personal experience with conversion rates. If you don't have anything to speak on that, it's better if you don't say anything at all....Thanks
      Well, it may be the 'unhelpful thing' but it's also the truth.

      Ok, this is my personal conversion EXPERIENCE, based on over 135 clients, and my own sales pages, in the last 7 years:

      Ranges from .03 (3/10ths of one percent) up to 33% (presold list by one of my affiliates, going on today)... hope that is 'helpful'

      Btw, as I recall, both of those products were approx the same price, $15.
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  • Profile picture of the author paul nicholls
    These are all for the IM

    My $5 OTO converted at between 7% - 18%

    My $17 upsell product was converting at around 25% from the people that purchased my $5 OTO

    A different IM product selling for $11 converted at around 5 - 15%

    These are just a few stats but as some of the guys say above there are a lot of variables involved
    like sales page, perceived value, reputation, trust, credibility, first impressions etc etc

    Best thing to do is just create something, send some targeted traffic to your page and then watch conversions, that`s the best way and your getting real results too

    Paul
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