Have you guys found it better to just offer one pricing option for your product vs. multiple options
For the last 8 months, I have been making about $1000 per month from selling lifetime memberships to my website for $47. This was my price for this product for the last year, over which time I had more then tripled the amount of content in it.
As of May 1st, I changed the pricing option to 3 different options - $10/month, $47/year, or $97/lifetime. Since making that change, I have noticed that my sales have significantly decreased. Over that last month, I sold 5 at the $97 price point, 4 at the $10 pricing, and none at the $47.
On June 1st, I eliminated the $47/year option, which only leaves people with the $10/month or $97/lifetime option. I have sold zero subscriptions so far in June.
My main goal is to get 300 people signed up at $10/month. Therefore, I'm thinking by offering only that one single option, it may get me to my goal faster then offering multiple options. The downside of course would be that I would be taking a hit for a few months.
I'm wondering what your thoughts are on this idea - offer multiple pricing options or just one single option?
Thanks.
As of May 1st, I changed the pricing option to 3 different options - $10/month, $47/year, or $97/lifetime. Since making that change, I have noticed that my sales have significantly decreased. Over that last month, I sold 5 at the $97 price point, 4 at the $10 pricing, and none at the $47.
On June 1st, I eliminated the $47/year option, which only leaves people with the $10/month or $97/lifetime option. I have sold zero subscriptions so far in June.
My main goal is to get 300 people signed up at $10/month. Therefore, I'm thinking by offering only that one single option, it may get me to my goal faster then offering multiple options. The downside of course would be that I would be taking a hit for a few months.
I'm wondering what your thoughts are on this idea - offer multiple pricing options or just one single option?
Thanks.
