On my website, I have a paid member's area which contains TONS of content (thousands of videos). I had the price set at $59 one time fee for a year now. I was doing pretty good at that price point not using any paid advertising. "Pretty good" for me means $1K to $2K per month.
I recently just went through some coaching and he helped me to set my site up in a way which helps direct people towards buying this membership more frequently. As a result of implementing his suggestions, I had my best ever month in January. I did just over $2500 in sales.
Now, my plan has been to increase the price of this membership to at least $99 (I always felt that $59 way too low...$99 is low still). For the last 2 weeks of January, on my sales page I had a notification on the top saying that the price would be increasing to $99 starting on Feb 1st.
In Janurary I was making about 2 to 6 sales per day. This could have been a result of a few different things. Maybe the "warning" on my sales page letting them know that the price would be increasing. Maybe it was due to the changes to my website. Maybe it was due to the fact that I did a new Youtube video which usually causes a spike in sales. I don't know.
All I know is that once I raised my price to $99, the sales volume noticeably dropped. In fact, I only did 4 sales total in February at this new price.
My price is definitely fair. I have TONS of great reviews right on my sales page. No one else in my niche is offering the amount of content that I am for this one-time fee either. However, people just seemed to be turned off by the $99 pricetag.
I'm very reluctant to drop the price back down again though.
So I'm just wondering what you guys do in dealing with this type of thing? Maybe I just have to ride it out for a while and allow my audience to get used to the fact that the low price is no longer available?