6 {{ upvoteCount | shortNum }}
6 {{ upvoteCount | shortNum }}

Need help with pricing

by mogulmap
5 replies
Hello I am getting ready to launch my first informational niche product and see if I can make everything I have learned over the last 5 years about internet marketing work for me lol wish me luck. Anyway I just had some questions about pricing my product and I wanted to get some advice from you warriors. I was going to launch at $37 but then I thought about offering a $4.95 monthly membership fee and waiving the $37 cost as a marketing incentive for customers who opt for the membership. I also thought about just charging the $37 and then upselling the $4.95 membership. which do you think is best to launch with?

I really like the second example where I waive the $37 fee for customers who opt for membership because $4.95 is alot better then $37 especially for my target niche however wouldn't charging $37 almost be like getting 6 months of membership upfront?

I look forward to your replys and thank you in advance.
#pricing
  • Profile picture of the author jaggyjay
    Hi,

    You're really going to have to test this in order to find out which is best in terms of profits. The $37 is just a price point and it can easily be tested against other price points. The $4.95 membership is an entirely different business model. Thus, you're attempting to test a price point of a straight sale versus a price point of a continuity-type model.

    To keep things simple, perhaps you should start off with the straight sale; then offer the membership (at whatever price point) as an up sell later on after you've gathered enough sales data.

    In light of the absence of sales data, there's no real correct answer. So, start off simply with your $37 offer. Test the $37 price against other price points. Then when your numbers show you what your market is willing to pay - charge that. Afterward, you can re-package your product and create an entirely different offer - one that includes your membership. Lastly, when your membership offer is live, you can start testing different price points for that.

    Hope this helps.

    - Jay
    Signature
    {{ DiscussionBoard.errors[1177050].message }}
  • Profile picture of the author intromaster
    I'd start with a $1 trial.

    It does two things, keeps most of the freebie seekers/tirekickers out and it gives a lot of people a chance to use and test your product who would not have normally done so because of lack of trust and skepticism. Remove the barrier of entry for people. Give them no excuse NOT to try what you've got.
    Signature
    PLR99 Announcement Club. Private label rights special offers EXCLUSIVELY to PLR99 club members only. My Own Material. You wont see anywhere else. FREE to join www.plr99.com
    {{ DiscussionBoard.errors[1177088].message }}
  • Profile picture of the author lotsofsnow
    The easiest way to get things flying is with a FREE trial. Offer a completely free trial for 7 days and then $4.95 per month.

    You will get MANY people in the door. You will have a HUGE list in no time and it makes it EASY for people to say MAYBE.

    If your content is valuable and helps your audience, MANY will do convert to $4.95 per month. And $4.95 per month is low enough that people will stay a long time.
    Signature

    Call Center Fuel - High Volume Data
    Delivering the highest quality leads in virtually all consumer verticals.

    {{ DiscussionBoard.errors[1177307].message }}
  • Profile picture of the author Koos-K
    I Agree with hpgoodboy, but I have something to add to that. Maybe it is a good idea to give them the option to pay upfront with a discount. Some people like to pay for an extended period of time.
    Signature
    Most personal and highest potential CTR marketing. Video marketing is the new way to roll.
    Free     secret at Video Marketing Boost
    {{ DiscussionBoard.errors[1177584].message }}
  • Profile picture of the author kennykencaid
    You need to have total faith in your self and not 2nd guess yourself.
    Fear makes you weak and people can sense it.

    Go with $37 up front and then $97 membership upsell (monthly) then a $47 downsell.

    This $4.97 crap will not get you any affiliates unless they owe you something.

    Talk soon,
    Kenny Kencaid
    {{ DiscussionBoard.errors[1177838].message }}

Trending Topics