Best Way To Split Test Product Price

9 replies
I have a new product on clickbank, but I do not know what to charge for it. What is the best method of testing different prices for finding the best performing price?

Thanks
#price #product #split
  • Profile picture of the author JohnQuiet
    I am looking for the same. I did see a number of discussions here for Google Otimizer (Free) and also Ad Test Pro. Try using advanced serach on this forum and use "split Test" titles only. That should give you a ton of ideas!

    Thx. & good luck!

    John Smart
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    • Profile picture of the author manning
      This may not be the answer you are looking for but this is the method I use to set my pricing:

      1. Find all your competitors product in the ClickBank Marketplace
      2. Note the products' prices and commission %
      3. Set your price higher than the other products which have at least a little bit of gravity (more than 5 or 10 ... depends on the niche).

      This way, you can contact affiliates and tell them you have a product in their niche which offers a higher commission than the product they are promoting now.

      Trust me, affiliates are greedy and not loyal
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  • Profile picture of the author Deepak Media
    Unless you have enough traffic and sales, you will not be able to determine which one is the best. Try Google Website Optimizer and don't make a final decision until you get at least 100 conversions.
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  • Profile picture of the author John Romaine
    I was told once by a multimillion dollar internet marketer to ALWAYS set your price very LOW initially then WORK UPWARDS. This way, you have a very good idea of "breaking point" - being that of the point when sales STOP, or decrease noticeably.

    I would consider the following....

    1. Get an idea of what similiar products sell for and use that as a "rough baseline"
    2. Use split testing software such as Improve Online Conversion with Split Testing Pro Software
    3. Split test on MULTIPLE SITES, rather than just trying it on ONE site.

    Pricing is always fun, but dont just think "highest price". Sales at $17 are better than no sales at all.

    Good luck with it.
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  • Profile picture of the author tribros
    Try "Affiliate Prophet Pro" tool for split testing.

    I would definitely recommend what "ramone_johnny" told.
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  • Profile picture of the author Rajan Cajan
    Don't know if itis true or not but the gurus always end there price with a 7 ie. $47, $37, $17, etc.
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  • Profile picture of the author Mrs S
    I think your price point also depends on how well you 'sell' your product on your pre-sales info and your sales page.

    I use Google's optimiser for split testing but you need a lot of traffic to get effective results.
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  • Profile picture of the author Ricci Cox
    I would set up 2 or 3 different landing pages with exactly the same sales letter/offer but just change the price on each one.

    So, the first would be your product at say $27 at www.YourProductName.com/offer1

    The second would be the same product at maybe $47 at www.YourProductName.com/offer2

    And lastly would be the same product at say $67 at www.YourProductName.com/offer3

    Then all you need to do is install Google Analytics (which is FREE). Drive traffic to your offer and track visitor numbers and conversion rates to see which price is converting best.

    You might just get a nice surprise. I've had products that I started out selling at $50 and sales were 'Okay' but I increased the price to $100 using exactly the same sales letter/sales page and conversions nearly doubled!

    I think this is because of peoples perception that a high priced product is a high quality product. And a low price product a low-quality one. Which is not always true of course but thats how people think...

    Ricci
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