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

junkofdavid2 · 11th Sep 2015, 08:02 PM

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?

ewenmack · 12th Sep 2015, 01:08 AM

Originally Posted by junkofdavid2

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

CardoCurrenssy · 12th Sep 2015, 01:23 AM

Originally Posted by junkofdavid2

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

KyleChapman · 14th Sep 2015, 02:12 PM

Yes, thanks for sharing. Interesting results indeed.

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

Minds Eye · 16th Sep 2015, 11:03 AM

I had similar results. My conversions jumped *slightly when I doubled my price. Same product.

junkofdavid2 · 17th Sep 2015, 06:07 AM

Thanks guys, very interesting indeed.

Kk I'll try a 2x price "package" (video + ebook) and see how it goes...

junkofdavid2 · 18th Sep 2015, 07:36 PM

@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

winnermarketing · 19th Sep 2015, 05:30 AM

Your higher price point makes the most, Taht's great!

You should integrate your offer with a low price product even a 7$ product!

junkofdavid2 · 20th Sep 2015, 07:55 PM

What do you mean "integrate" offer with low priced $7 product? 😮

The Cypher · 21st Sep 2015, 07:49 AM

Originally Posted by junkofdavid2

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?

junkofdavid2 · 21st Sep 2015, 09:32 AM

Originally Posted by The Cypher

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).

WillBlanchard · 23rd Sep 2015, 08:48 AM

Originally Posted by CardoCurrenssy

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!

shaunybb · 24th Sep 2015, 02:11 PM

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!

nicenet · 25th Sep 2015, 03:32 AM

Nice result. Law of demand states price hike lowers consumption.

junkofdavid2 · 25th Sep 2015, 11:07 PM

Originally Posted by 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!

Hi Shaun, are you responding to my #11 post above?

netgeek · 26th Sep 2015, 04:32 AM

Originally Posted by junkofdavid2

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

ewenmack · 26th Sep 2015, 02:40 PM

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

14th Sep 2015, 02:12 PM	#4
KyleChapman Conversion Specialist Join Date: 2015 Location: United States Posts: 51 Thanks: 0 Thanked 10 Times in 10 Posts	Re: 97 vs 67 vs 47: My Split Test Results Are _____! Share on: Yes, thanks for sharing. Interesting results indeed. If more expensive converted better, I'd say test raising the price even more!
	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

16th Sep 2015, 11:03 AM	#5
Minds Eye Russ Banister Join Date: 2008 Location: Kelowna, British Columbia, Canada. Posts: 87 Thanks: 8 Thanked 31 Times in 27 Posts	Re: 97 vs 67 vs 47: My Split Test Results Are _____! Share on: I had similar results. My conversions jumped *slightly when I doubled my price. Same product.
	A powerful perspective on persuasion

17th Sep 2015, 06:07 AM	#6
junkofdavid2 Active Warrior Join Date: 2011 Posts: 67 Thanks: 64 Thanked 5 Times in 4 Posts	Re: 97 vs 67 vs 47: My Split Test Results Are _____! Share on: Thanks guys, very interesting indeed. Kk I'll try a 2x price "package" (video + ebook) and see how it goes...

18th Sep 2015, 07:36 PM	#7
junkofdavid2 Active Warrior Join Date: 2011 Posts: 67 Thanks: 64 Thanked 5 Times in 4 Posts	Re: 97 vs 67 vs 47: My Split Test Results Are _____! Share on: @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

19th Sep 2015, 05:30 AM	#8
winnermarketing Internet Marketing Join Date: 2015 Posts: 832 Thanks: 1 Thanked 101 Times in 94 Posts	Re: 97 vs 67 vs 47: My Split Test Results Are _____! Share on: Your higher price point makes the most, Taht's great! You should integrate your offer with a low price product even a 7$ product!
	[SIGPIC][/SIGPIC] Free Guide to Make Money Online [Now!]

11th Sep 2015, 08:02 PM	#1
junkofdavid2 Active Warrior Join Date: 2011 Posts: 67 Thanks: 64 Thanked 5 Times in 4 Posts	97 vs 67 vs 47: My Split Test Results Are _____! Share on: 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?

20th Sep 2015, 07:55 PM	#9
junkofdavid2 Active Warrior Join Date: 2011 Posts: 67 Thanks: 64 Thanked 5 Times in 4 Posts	Re: 97 vs 67 vs 47: My Split Test Results Are _____! Share on: What do you mean "integrate" offer with low priced $7 product? 😮

24th Sep 2015, 02:11 PM	#13
shaunybb Underground Affiliate :) Join Date: 2015 Location: Canada Posts: 1,126 Thanks: 874 Thanked 488 Times in 330 Posts	Re: 97 vs 67 vs 47: My Split Test Results Are _____! Share on: 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!

25th Sep 2015, 03:32 AM	#14
nicenet susxtutors.co Join Date: 2011 Posts: 43 Thanks: 40 Thanked 6 Times in 6 Posts	Re: 97 vs 67 vs 47: My Split Test Results Are _____! Share on: Nice result. Law of demand states price hike lowers consumption.

26th Sep 2015, 02:40 PM	#17
ewenmack VIP Warrior War Room Member Join Date: 2006 Location: Auckland, New Zealand Posts: 6,621 Thanks: 3,448 Thanked 6,446 Times in 2,868 Posts	Re: 97 vs 67 vs 47: My Split Test Results Are _____! Share on: 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