Am I Too Cheap?

by MikeHayes 22 replies
I need help again.

I was talking to my wife about my $7 books and the mediochre sales when she suggested that maybe the price was too low! Making people think that there was a catch somewhere or that for that sort of money it wouldn't be up to much.

And now the help. Would you like to visit The HTML Book sales page (it does tell you all you need to know) then tell me what you think:
1. The price is ok, don't change.
2. Raise the price to $17, $??.
3. Sell the book on it's own and use, eg., the 5 video set as an OTO for $X more.
4. Any other suggestions.

MikeHayes

PS Those Warriors who took advantage of my WSO, I'd like to hear what you think and any testimonials would be appreciated.
#main internet marketing discussion forum #cheap
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  • Profile picture of the author Rachel Goodchild
    I haven't read your books, but I know I'd pay more for the job hunters book easily
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    • Profile picture of the author SandyDuPlessis
      Hi Mike,

      Since I had not read any of your books, I decided to buy the HTML book.

      Yes, put your price up immediately!

      I am not very technically inclined and have loads of stuff which is supposed to help me with HTML - now I can throw it all out and just use yours.

      The bonuses provided are also worth more that the $7 that you charge.

      Perhaps you can also make your Sales Page more exciting. It was not something that really grabbed my attention, or made me want to buy. The book and CD covers also need to be jazzed up.

      No matter how good your product is, or how fantastic the price is, it is still important to generate excitement in the eye and mind of the prospective purchaser in order to get them to actually buy.

      Now - If you would kindly write something nice and easy on PHP as well, I will be your first customer

      Sandy
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  • Profile picture of the author Daniel Scott
    Mike,

    The price is just one part of your offer and although I am certainly not an expert, the first thing I would suggest is that your sales copy needs some serious work.

    Where is the headline that SLAMS you with benefits? Where is the catchy intro? Where is the "greased slide" that makes me want to keep reading?

    WHERE ARE THE BENEFITS?

    Where are the testimonials? The guarantees? The PS?

    I'm not saying these things are always necessarily, or even guaranteed to increase conversions. But my understanding is that they help in the majority of cases.

    Having said all that, what kind of conversion rate are you seeing? Where is your traffic coming from?

    You are asking a big question here man, and it's very difficult to answer when we have ALL the information available, let alone just one teeny bit.

    -Dan
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  • Profile picture of the author Kyle Tully
    There are 3 reasons you're not making sales.

    1. Your copy sucks.

    2. You website looks really amateurish... for a site teaching html! So no one will read it nor believe you.

    3. There are a ZILLION free html resources online. Plus tons of great books. Frankly I don't see much of a market, even at $7... but if you want any chance of success you need a killer USP.
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  • Profile picture of the author John Hillage
    I agree with Kyle's sentiments, although I may not put them so harshly! But you do need to improve the copy. And then the only way you will find out what the market will pay is by TESTING. For example run 100 people to a sales page at $17, 100 to a sales page at $27, 100 to a sales page at $7 - and let the people tell you (by their purchases).
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    • Profile picture of the author graphicsgenie
      Originally Posted by Kyle Tully View Post

      There are 3 reasons you're not making sales.

      1. Your copy sucks.

      2. You website looks really amateurish... for a site teaching html! So no one will read it nor believe you.

      3. There are a ZILLION free html resources online. Plus tons of great books. Frankly I don't see much of a market, even at $7... but if you want any chance of success you need a killer USP.
      EVERYTHING THAT NEEDS TO BE SAID HAS BEEN SAID ABOVE.

      Invest in a minisite at least to give your look a little more professionalism, then take your copy to copywriters forums and ask for help,

      Thanks
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  • Profile picture of the author Eric Johnson
    Not sure about the price really not knowing the market that pays for this stuff...I just use Google

    That being said...I agree with the earlier sentiments. Man your sales page is just plain ugly as sin. Get that thing cleaned up...looking all spiffy. I didn't read the copy but others say it's a problem. Fix it.

    Then worry about the price

    BTW, The advice about split testing the price is spot on...but you absolutely MUST do the other two things first.
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  • Profile picture of the author Justin Harrison
    Hi Mike,

    Do some price point split testing, that will soon enough give you your answer.
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    • Profile picture of the author lakshaybehl
      Mike!

      I appreciate that you are taking action.... Its better than dong nothing.

      But I would recommend changing the copy, the style and basically what Kyle has said above.

      You need to make these changes.

      btw... Coming out with a USP is not an option. Its a MUST. Maybe it is time right now to work on something else to make some money... maybe selling articles etc., and then hire a copywriter to write the copy for you.

      Writing the copy for a 7 dollar products isn't a big time consumer. it really is about the USP! In this market, people are looking for free information.

      -Lakshay
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      • Profile picture of the author Takuya Hikichi
        Raise the price to $17 and even if it converts less, here is the scenario

        1. $7 at 3% conversion rate out of 100 visitors, you make $21.

        2. $17 at 1.5% conversion rate out of 100 visitors, you make $25.50
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      • Profile picture of the author Mr. Orange
        I agree that your sales page needs a serious overhaul and split testing is an excellent idea, as well.

        The psychological aspect of a $7 product is that prospects automatically perceive it to be a cheap product that's probably not even worth the 7 bucks they paid. In order to overcome that, you have to provide them with eye candy graphics, testimonials, good sales copy and some great bonuses that compliment your product.

        Implementing the above suggestions, if done correctly, should change your potential customer's mindset that $7 no longer represents a worthless product, but instead makes him feel like he is getting a GREAT product for a low price.

        Just my 2 cents. Hope it helps!
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  • Profile picture of the author jhongren
    Originally Posted by MikeHayes View Post

    I need help again.

    I was talking to my wife about my $7 books and the mediochre sales when she suggested that maybe the price was too low! Making people think that there was a catch somewhere or that for that sort of money it wouldn't be up to much.

    And now the help. Would you like to visit The HTML Book sales page (it does tell you all you need to know) then tell me what you think:
    1. The price is ok, don't change.
    2. Raise the price to $17, $??.
    3. Sell the book on it's own and use, eg., the 5 video set as an OTO for more.
    4. Any other suggestions.

    MikeHayes

    PS Those Warriors who took advantage of my WSO, I'd like to hear what you think and any testimonials would be appreciated.
    Hi, I have taken a look at your sales copy. You need major overhaul if you want to sell your product.

    Do it for yourself for these few reasons:
    1. You save time
    2. You save effort
    3. You save money

    By marketing your product, you will be spending lots of time, effort and money. And if you are going to proceed, I suggest you not to.

    This is what you can do:
    1. spend money in getting professional graphic artist to design your header, footer image, product covers and the entire sales copy (normally they will throw in some banners images for affiliate marketing)
    2. spend money in getting pro copy writers to write your sales copy and emails
    3. I think since you are an expert in html, load your page in this sequence => (sales copy -> payment done -> send to opt in page -> send to OTO -> download page)
    4. Load an optin in your sales page for potential buyers to download a free 30 pages ebook
    Hope this is useful.

    Cheers,
    John
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  • Profile picture of the author tommygadget
    Mike, that website is just too ugly and dated looking to sell anything! But the fact that you're selling a book on HTML? As for a mini-site designer here to help you out. After that, edit the copy.

    TomG.

    PS - Those weird question marks creeped me out.
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  • Profile picture of the author KimW
    off topic, but I have to say I loved your personal info page Mike!
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  • Profile picture of the author virtualpro
    Maybe you need your best HTML sale page to show off client too.
    Otherwise you may can't beat those big guys on Amazon.

    Lee
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  • Profile picture of the author Chris Lockwood
    I have to agree that a site selling an HTML book needs to look nicer and more current. Although to be fair, it doesn't say it's a web design book.
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  • Profile picture of the author MaskedMarketer
    Hey Mike,

    Like the others have said, boosting your sales conversions will obviously benefit you. I think you should leave your product at 7$ to create your sales funnel and maybe provide more detailed information and possibly a service as a backend for at a higher price point. Remember, most of your money should be made on the backend or your losing out on most of your profits. Your current customers should be the easiest sale to get, so take advantage of it...

    Good luck!
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  • Profile picture of the author Suthan M
    Before you raise the price, i suggest that your raise the bar of your website. Things need to be overhauled in terms of delivery, content and the layout before any other effect is disscussed.

    Sorry for being so rude, but thats the truth.
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    • Profile picture of the author MikeHayes
      Hi all,

      And thanks to everyone who contributed. That is with the exception of Kyle Tully whose post sucks and contributes nothing to the discussion!

      But now back to those who were critical and those who were positive.

      I realise after reading the replies that a total revamp is needed and am doing it now. It's a total remake, layout, text, graphics (done), web structure, domain name. Whew! When I am ready for the relaunch I'll let it be known.

      Sandy's comments about the graphics also made me think. They have been redone please view and comment. (Not you Kylie. By the way, did Australia get more or less medals than the UK?? Hmm?)

      Regards,

      MikeHayes
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      • Profile picture of the author naruq
        Invest in a copywriting course. Offer a Free report and CD for $5.95 as a Lead Generator. Then raise your price of your product for $40.00 with added bonuses.
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  • Profile picture of the author Daniel Scott
    Mike,

    Although Kyle's post was maybe a little blunt, it was 100% on the money.

    It's clear you're not a web designer. Knowing HTML is different. I know HTML. I can't design graphics to save my life.

    You need to seriously consider what Kyle said if you want to be successful.

    -Dan
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