37 to 497 - should I?

I guess that depends on if you think that the people that use your product would pay $497.

Why not keep the $37 price, but make it into a monthly subscription service if possible.

why $497..... Why not something a little hire but something everyone could afford... Like $197 or $247.

That way you may still get the volume of sales and still at a higher price. How many are you moving at $47.

Can you market bare that price?

I would consider what tommen said... make it some type of a recurring thing and that will increase your value per customer a lot.


Micah Rush

You do realize you have free competition with similar features, right?

http://www.onlineleadfinder.com/

Just a heads up in case you didn't know. Either way, you won't know until you test. $497 is steep, though. I think $197 is a nice "in-between" that hardcore CL marketers will invest in.

That better be one heck of a whopping product to jack the price up so high!

These days there's so much competition that your product might just be skipped in lieu of a similar cheaper product. I suggest upping the price a little and seeing if you still get a good response, but such a drastic price increase might mean the death of it.

...just my 2 cents worth

What are the main users of your product using it for? To find a used sofa (tens or hundreds of dollars)? Or to find antique cars to buy (thousands to hundreds of thousands of dollars)?

Don't price yourself out of what your products target market can bear.

You have received some good and interesting posts and responses, Here is my 2 or 3 cents, take it or leave it,:rolleyes:

As a buyer and seller, I can tell you the one thing that so many people seem to over look when attempting to sell a product or service.

What will it do for the buyer,

Will it make the buyer rich? Probably not, but hey you never know.

Will it be so valuable that no one could possibly re-produce it in another form?

Will it be so unique that you are the only one that can provide the service?

If it is all of those things, raise the price, but I think that you would make more by providing more value and keeping the price affordable, several other warriors also made the same observation, and I agree.

Make your product all those things and then jack the price up so high no one can afford to buy it,)

Wait, that makes no sense...

You could do that but you already know the answer to the question in that case then I would find a way to add value to your product so that it starts selling like hotcakes, at the currant price point, if you sold 200 copies at 37 bucks today would you feel differently?

the question you need to ask your self is what is keeping my product from selling that many copies in one day?

Hope that helps in some small way, in any event have a great day.

If i say $100000,97.00 also is good, will you do it ?

Of course not , right ? Apply the same idea then

Test and track. Analyze what is the market "agreeable" date before you hike it up.

Price it according to what you think is a "fair price", by putting in the value of your time, effort and value that you put into it.

Hope this helps ya !

Picture a simple navy blue, crew neck T-shirt.

What is the difference between a blue T-shirt sold by Walmart and a blue T-shirt sold at a Ralph Lauren Polo store?

About $20. $10 at wallyworld and $30 at RLP... oh yes, and a logo on the higher priced shirt.

It is all about perception. How will potential users perceive your product?

Years ago I gave away a retail product free, and found mostly freebie seekers coming for it. I then put a $19 price on it and had an average back-end sale of $125. Next I upped the price to $39 and found the average back-end sale jumped to $688.

Then I tried $49, and no one bought! Every product has its maximum, and you need to test to find it.

BTW yesterday I found the RLP T-shirts at a Park City RLP store being closed out at the same $10 usually charged for "plain" T-shirts at Walmart, and Walmart was already sold out because it is the end of Summer.

:-Don

I do think you're under-charging at $37. I would try to mark it up to $97 and see what the response is.

Do you have any other products that you're developing to sell them on once they become part of your list?

Women are having trouble affording a $5 lipstick in this economy and if someone can't buy a $5 lipstick they are unlikely to ante up as much as $400+

I assume your product is digital? But I can think of very few products that are digital I would ante up $497 for...none in fact.

I am one of those in the War Room who has advocated for raising prices (so that you can deliver greater value and communicate that advantage better).

But such a wild swing in pricing seems a little... unsubstantiated.

I would suggest an immediate bump to $67 as a "special discount" prior to an impending permanent price change of $127 for the software and test.

If you do better at $67, do the $127 bump and test.

Introduce new features or some demonstrated value add with each bump.

Best,

Brian

If you repackage you can sell it for that price for sure. Find a way of offering 497 in value first then double that. That will certainly help with your conversion rate.

But that does seem like a huge price. When I visited your site at first glance i did not see a 497 value.