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Is My Product Priced Too High or Is My Mind Playing Tricks on Me?

by AchTi
15 replies
Hi I have a new product and it hasn't sold as I thought it would? Really I don't know what it should do (in terms of sales) because it was my first product. But I know that it is a good product and it has gotten good reviews from people that have bought it and people that have reviewed it.

It is priced at $97 and then $25/mo recurring but sales have been slow. I was wondering if the product is priced too high? It consists of an ebook and a membership site with tutorial and instructional videos.

Should I drop my price to a different price point? Maybe $27, 37 or 47? I don't know but I do know that people often go to it and click on it but don't actually purchase.

Any veteran warrior advice would immensely. Thanks...

Oh yes the product is called Social Niche Now and I am skeptical about putting the link up here because I've received infractions before for the simplest things so if you want to see it just search for it or click link in my sig and then go to the Home page.

Thanks in advance.
#high #priced #product
  • Profile picture of the author danieluk9
    It sounds like a lot of money, I'd do a "Special offer" for a week or so, so a few people get it and think wow this is amazing, then they tell their freinds and its just publicity.
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    • Profile picture of the author WikiWarrior
      Try a different price point for a month to make it easier for people to jump on board. If you're conversions are not where you want them after a significant amount of traffic to your offer, it's worth testing everything. Even many of the big hitters online now offer cheap trials and it's a model that works. That's half the job, getting people to sign up to anything, whether it's a 7-day $1 trial or squeeze page offer for a free download.

      Do you have the testimonials to publish on your offer page?

      Seems like you have a good offer so you just need to test the hell out of everything and keep going. You might even find your price point is fine and you just needed to tweak the way you are marketing it.

      Good luck.
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  • Profile picture of the author Sean Erickson
    Here is what I would do.
    Drop the price of the one time price to $27 and then monthly $17 because this will make you more money. How?
    If you have a $97 product and a 25$ monthly then you will make 1220 for 10 sales and

    But when the price is low, you will make about 880$ and then $340 every month . Just my 2 c.
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  • Profile picture of the author Links Sales
    have you to give free copies to experiment,
    to ask for a review of readers and set their prices lower than the first
    if there sale 10 copies then good for you raise prices.
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  • Profile picture of the author WeavingThoughts
    Way too expensive for something which isn't from an authority or unless it has dozens of rave reviews.

    Of course it depends as to what exactly it is.
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  • Profile picture of the author specialistwriter
    Depending the products or services that you want to sell, price should be determined based on the demand and supply. If the product or services is a "breakthrough" probably you can sell at higher price point depending on the niche.

    My advice, build relationship for a long term business, clients will come back ... see what's happening to iPhone 5, McDonald ...
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  • Profile picture of the author Dan Grossman
    Ask the people that are coming to the site but not buying why they're not buying, then address that. The price might not even be the problem. Maybe you're not selling it. Maybe your payment form doesn't look trustworthy. Heck, maybe it doesn't even work and it's declining payments so people are abandoning the site.

    If you have a way to contact them, do that. If not, add a way. Put a live chat button on the page and set a proactive prompt to start a chat with anyone that reaches the payment page and leaves it open more than 15 seconds. Or add an on-page survey with Qualaroo.

    To me, your sales page is unreadable. All the flashy graphics butted up against the small text with too little line-spacing and padding, yet not lining up at all... it's hard to know where your eye should go just to get to the next paragraph (and know which paragraph comes next!). I literally feel like I need to close the page or it'll hurt my brain. But I'm not the person to ask.
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    • Profile picture of the author webcashuk
      I think a lot of sellers forget that a good majority of buyers are in the game to make some money.When they initially see a 97 dollar price point followed by a monthly 25 payment , they start to think , can i actually make money from this and can be scared away.Worse still they might compare a 9.99 wso with your product and think its just as good. Now we all know that we are not comparing oranges with oranges but i think its important to get into the mindset of the buyer .You wrote the product, you understand it back to front and upside down but that has negative connotations also.You are biased and may have a wrong idea or perception of the value offered.The best thing would be to get a few newbies on board and help them make some money , thats the best selling point you could ever have


      Peter
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  • Profile picture of the author JamesColin
    Banned
    You have to test, yes, even the price. And also you should look for a checklist on what to include in your sales page, because at the moment there are several things missing, like stating the problem, playing on emotions/pain, testimonials and pointing benefits for instance.
    But I'm not experienced and haven't yet my first product.
    Anyway, there is one mistake I've spotted, but might be more, the word "the" repeated 2 times in this part:
    As an add-on you will have access to the the brand new coaching site;
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  • Profile picture of the author daedhrogon
    IMHO it's too expensive
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  • Profile picture of the author Mark Pescetti
    Funny, I just wrote a post on this very subject on an older thread in the copywriting forum.

    Everything you need to know is here: http://www.warriorforum.com/copywrit...ice-point.html

    Check it out dude!

    Mark
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    • Profile picture of the author Tempest07
      i would say that you need to look at the 'demand' before you can stick to a price....try lowering the price because you said that people click on it but don;t actually buy it...i feel that the price in an issue....you have to lower it and when the demand starts to grow...you can increase it because then people will surely want to buy it...
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  • Profile picture of the author Mark Pescetti
    Just took a look at your site...

    You're approaching this from the wrong vantage point.

    First of all...

    You need to break up the initial product from the memebership.

    Sell the product first...

    ...then upsell the opportunity to take what you're teaching them further with a monthly membership.

    Selling BOTH when you have NOT established credibility is a HUGE mistake.

    Secondly...

    You say you have social proof?

    Really?

    Use it.

    Thirdly...

    The life-changing benefits that your product creates simply aren't there.

    You're not delving deep enough into the emotions people are experiencing or the circumstances they're dealing with...

    ...nor the lifestyle they REALLY want to create.

    Shopping at a department store and being able to spend money there doesn't cut.

    You're failing to connect with what prospects are experiencing and want...

    And lastly...

    Yes...

    The design is god awful.

    It doesn't flow.

    It's distracting.

    And it doesn't convey any type of high-end, "I am the guru" feel or vibe.

    Change it.

    Use social proof.

    Dive into the deep emotional (mindset) issues and limiting beliefs that your prospects feel and think about.

    Explain HOW the product can help people reveal the lifestyle they want.

    Give them something of value.

    Right now...

    There's NOTHING to bite into.

    Nothing.

    Start over.

    Mark
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  • Profile picture of the author xInd
    I find that it works better if you provide a couple options. Some people are turned away by the recurring cost. Some people are turned away by the extra up front cost.
    I suggest you offer a lifetime membership option, maybe $179 or something... Then offer a subscription where there is only one recurring bill, so maybe $37 which is higher than your current price, but with no 'setup fee' or whatever you call the one time $97 payment.
    Another tip that might work (I don't know first hand, but many pro's have said this) is to stay away from the 9's, like your $29. 7's, like your $97 psychologically are better received, since for so long scare tactic marketing and other less then pleasing marketing ploys, have involved dropping 1 penny or 1 dollar from the true price, just to get it appearing to cost a digit bracket less.
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  • Profile picture of the author Shubh Ashish
    Give some free Review copies to some of the senior warriors here and add there reviews if you have very much belief in your WSO.
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