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What's with $97 (or some derivative)

by kml
14 replies
Just wondering when this became the "fashion". Is it some type of cultural thing? I thought it was $99 or $99.98, etc. Why does it seem all the IM products end in "7" - lucky number or just more hype?
#$97 #derivative
  • Profile picture of the author JamesBone777
    Its more of a "lucky" thing I guess.Maybe it's from old superstitious marketers who discovered that it converts more or sell more when the price ended in 7.
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  • Profile picture of the author businessmatt
    It stands out. The same reason that prices have been $99, or $4.99 or whatever for years, because $97 looks cheaper than $100 and it stands out. $4.99 looks cheaper than $5, even though it's within 1 cent.

    I haven't looked at any research, but I'm sure you could find all sorts of studies that show higher volume of sales for things with odd prices like that.
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  • Profile picture of the author homeworkin
    I have an ebook of marketing tests from a big-name guru and in it he shows that prices ending in 7 have a much higher conversion rate. So, I am sure that started the ball rolling and then everyone else jumped on the bandwagon since all the big guys were doing it.
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    • Profile picture of the author DonTino
      Originally Posted by homeworkin View Post

      I have an ebook of marketing tests from a big-name guru and in it he shows that prices ending in 7 have a much higher conversion rate. So, I am sure that started the ball rolling and then everyone else jumped on the bandwagon since all the big guys were doing it.

      I agree with this.
      I had read a discussion about this topic here a couple of years ago. Someone was able o bring up a study that showed that the 7 at the end converted better.

      Tino
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  • Profile picture of the author danalingga
    because $97 look more cheaper than $99 perhaps.
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    • Profile picture of the author ShaneBoyd
      It's all about conversions. No real science behind it at all and no real reason. People will buy a product at $97 over a product at $95. Weird, but true.

      Shane
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      • Profile picture of the author SamuelJ
        The number 7 has been put through many psychological tests and it
        is the most preferred number for humans.

        Also when people fill out survey's the typical number they select is...

        If you are surveying people you should compensate for this as it can
        blunten your results.
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      • Profile picture of the author sal64
        Add to this that people tend to sub-conciously set a spend limit in incerements and there you have it.

        For example, if you're going to sell at $27 or $37, you may as well price it at $47.

        Likewise, no point at $57 or $67... just go for $97.

        Don't ask why... but it works.
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        • Profile picture of the author theemperor
          This thread has inspired me to do split testing on the $*7 price points vs. current $*9 prices and see if it makes a difference
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          • Profile picture of the author SamuelJ
            Originally Posted by sal64 View Post

            Add to this that people tend to sub-conciously set a spend limit in incerements and there you have it.

            For example, if you're going to sell at $27 or $37, you may as well price it at $47.

            Likewise, no point at $57 or $67... just go for $97.

            Don't ask why... but it works.
            Very good points

            Originally Posted by theemperor View Post

            This thread has inspired me to do split testing on the $*7 price points vs. current $*9 prices and see if it makes a difference
            Please do and post back here to let us know
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          • Profile picture of the author Lance K
            Originally Posted by theemperor View Post

            This thread has inspired me to do split testing on the $*7 price points vs. current $*9 prices and see if it makes a difference

            Now if it would only inspire those blindly using $*7 price points to test $*9 etc. price points.
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  • Profile picture of the author troy23
    What about a $7 ebook raised to $17 ?

    Would that work?

    Seems a big raise to me
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  • Profile picture of the author wbeil48
    I'm no shrink, by any means, but maybe there's some kind of psychological "trigger" behind those 7's ??

    Interesting to think about, nonetheless.
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  • Profile picture of the author DogScout
    I know someone that tested the price point on a small pamphlet on, let us say iguanas (though it wasn't iguanas)
    did an adwords campaign that rotated the landing page at $7, $9.99 and 10 dollars even. After 1,000 clicks, the 7 & 9.99 price points converted between 1-2%. The $10 even at 12%.
    So apparently it is different in each niche. I would assume the number's ending in 7 converted best in a niche and a lot of people do not test their own niche, so go with it.
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