97 vs 67 vs 47: My Split Test Results Are _____!

16 replies
  • CRO
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First, a background. I run a membership site providing business school financial tutorials.

I've had more than 6 million Youtube views plus around 60,000 subscribers/fans/followers (Youtube, Aweber, Facebook, Twitter combined) and I earn money using the freemium model (free Youtube videos, free eBook; premium videos and premium ebook for sale on my site).

I've long been offering up the monthly membership at $97/month but got interested when Russel Branson's book said that his $47 membership had 4x as many conversions as his $97; so I gave it a go. My results are, out of 1,000 exposures to my sales page in 3 variations only concerning the price: 97 at 2.54%, 67 at 1.61%, and 47 at 1.4% so we can say that it's linear but inverse and contrary to the classical supply and demand model. Wow. So now I regret that I wasn't able to find a better price to increase conversions and that in a way, I wasted the extra money on the table during the test; but I'm also happy to know that my higher price point makes the most. What should I test next?
#conversion #membership site #price test #results #split #split test
  • Profile picture of the author ewenmack
    Originally Posted by junkofdavid2 View Post

    What should I test next?
    Thanks for posting your test results.

    You could test 1,2,3 year term paid up front at varying
    discounts shown as savings per month.

    Best,
    Doctor E. Vile
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  • Profile picture of the author CardoCurrenssy
    Originally Posted by junkofdavid2 View Post

    First, a background. I run a membership site providing business school financial tutorials.

    I've had more than 6 million Youtube views plus around 60,000 subscribers/fans/followers (Youtube, Aweber, Facebook, Twitter combined) and I earn money using the freemium model (free Youtube videos, free eBook; premium videos and premium ebook for sale on my site).

    I've long been offering up the monthly membership at $97/month but got interested when Russel Branson's book said that his $47 membership had 4x as many conversions as his $97; so I gave it a go. My results are, out of 1,000 exposures to my sales page in 3 variations only concerning the price: 97 at 2.54%, 67 at 1.61%, and 47 at 1.4% so we can say that it's linear but inverse and contrary to the classical supply and demand model. Wow. So now I regret that I wasn't able to find a better price to increase conversions and that in a way, I wasted the extra money on the table during the test; but I'm also happy to know that my higher price point makes the most. What should I test next?

    I have also been looking into price points, I guess it depends on what the niche vs how valuable it is to the customer at hand... For example I offered a select group of people email coaching for $197 and I didn't get that much sales but then turned around and offered that same group of people hand holding coaching for $497 and I was surprised how much more sales I made...

    Just keep testing packages I say
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    • Profile picture of the author WillBlanchard
      Originally Posted by CardoCurrenssy View Post

      offered that same group of people hand holding coaching for $497 and I was surprised how much more sales I made...

      Just keep testing packages I say
      You're making them feel extra special, like a one-to-one relationship. That always pays off for conversions when done right!
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      • Profile picture of the author shaunybb
        For new subscribers/fans etc after they opt in offer a low priced "tripwire" offer. Turn a subscriber into a customer and then you will make even more sales at $97!!


        (its easier to sell higher priced items, when people have purchased from you before)


        Shaun!
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        You FAIL online because you have the WRONG information.....
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        • Profile picture of the author junkofdavid2
          Originally Posted by shaunybb View Post

          For new subscribers/fans etc after they opt in offer a low priced "tripwire" offer. Turn a subscriber into a customer and then you will make even more sales at $97!!


          (its easier to sell higher priced items, when people have purchased from you before)


          Shaun!
          Hi Shaun, are you responding to my #11 post above?
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  • Profile picture of the author KyleChapman
    Yes, thanks for sharing. Interesting results indeed.

    If more expensive converted better, I'd say test raising the price even more!
    Signature

    I've done conversion work for many big companies such as Expedia, The Boston Globe, Kobo Books, Firestone and more...

    Kyle Chapman - CEO - Conversion Marketing Services a Conversion Rate Optimization Firm

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  • Profile picture of the author Minds Eye
    I had similar results. My conversions jumped *slightly when I doubled my price. Same product.
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    A powerful perspective on persuasion

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    • Profile picture of the author junkofdavid2
      @Minds Eye: Glad to hear that, so I guess it's really not true that lower price means more sales.

      Btw if anyone wants to see my site/salespage for comments, reply in the thread and I can PM it to you. I don't mind warriors seeing it; I just don't want my own subscribers to see it in the warriorforum when they Google it :p
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  • Profile picture of the author junkofdavid2
    Thanks guys, very interesting indeed.

    Kk I'll try a 2x price "package" (video + ebook) and see how it goes...
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  • Profile picture of the author winnermarketing
    Your higher price point makes the most, Taht's great!

    You should integrate your offer with a low price product even a 7$ product!
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  • Profile picture of the author junkofdavid2
    What do you mean "integrate" offer with low priced $7 product? 😮
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  • Profile picture of the author The Cypher
    Originally Posted by junkofdavid2 View Post

    I've long been offering up the monthly membership at $97/month but got interested when Russel Branson's book said that his $47 membership had 4x as many conversions as his $97; so I gave it a go. My results are, out of 1,000 exposures to my sales page in 3 variations only concerning the price: 97 at 2.54%, 67 at 1.61%, and 47 at 1.4% so we can say that it's linear but inverse and contrary to the classical supply and demand model. Wow. So now I regret that I wasn't able to find a better price to increase conversions and that in a way, I wasted the extra money on the table during the test; but I'm also happy to know that my higher price point makes the most. What should I test next?
    Was this 1,000 visits for each variation for 1,000 visits total, about 333 visits per variation?

    If it's the former you're looking at a difference of 1-2 sales that would make up the difference. Which means, I doubt it's significantly different - if that makes sense?

    I'd test $67 again, as well as a 3 month pre-payment for $197 as well.Just depends on what you're interested in doing and how your business finances are looking. Also, what is your current attrition rate?
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    • Profile picture of the author junkofdavid2
      Originally Posted by The Cypher View Post

      Was this 1,000 visits for each variation for 1,000 visits total, about 333 visits per variation?

      If it's the former you're looking at a difference of 1-2 sales that would make up the difference. Which means, I doubt it's significantly different - if that makes sense?

      I'd test $67 again, as well as a 3 month pre-payment for $197 as well.Just depends on what you're interested in doing and how your business finances are looking. Also, what is your current attrition rate?
      Yes it's about 333 visits per variation. Ya, perhaps it's not a significant difference. How do I find out the attrition rate? (Sorry, I'm not IM niche so I'm weak with these concepts).
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  • Profile picture of the author nicenet
    Nice result. Law of demand states price hike lowers consumption.
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  • Profile picture of the author netgeek
    Originally Posted by junkofdavid2 View Post

    First, a background. I run a membership site providing business school financial tutorials.

    I've had more than 6 million Youtube views plus around 60,000 subscribers/fans/followers (Youtube, Aweber, Facebook, Twitter combined) and I earn money using the freemium model (free Youtube videos, free eBook; premium videos and premium ebook for sale on my site).

    I've long been offering up the monthly membership at $97/month but got interested when Russel Branson's book said that his $47 membership had 4x as many conversions as his $97; so I gave it a go. My results are, out of 1,000 exposures to my sales page in 3 variations only concerning the price: 97 at 2.54%, 67 at 1.61%, and 47 at 1.4% so we can say that it's linear but inverse and contrary to the classical supply and demand model. Wow. So now I regret that I wasn't able to find a better price to increase conversions and that in a way, I wasted the extra money on the table during the test; but I'm also happy to know that my higher price point makes the most. What should I test next?
    Hello David,

    Hope you doing great.

    Thanks for posting the results.

    Don't you think, Now you should try $97,$147 & $297?

    Important thing your experiment tells that positioning yourself is very important, as $97 quote is most sold, it says that you have succeeded branding yourself very well and as the result you have very quality subscribers.

    Would like to know your results if you are going to experiment quoting higher than $97.

    Cheers,
    Tarun Reddy
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    • Profile picture of the author ewenmack
      Another split test can be 2 payments of $97.

      Digital Marketer found very little drop off
      in buyers and of course instantly doubled revenue.

      Best,
      Doctor E. Vile
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