Internet Marketers are leaving money on the table

It seems to be an accepted fact in IM circles that product prices with the number seven in them are more effective, and convert better than other prices. For example, $7.77, $17.77 or $37.77. Some marketing experts believe you should drop the change altogether and price your products at $7.00 or $37.00 or $67.00.

Personally, I think that whole number seven thing needs to be examined on a case by case basis. I'm not suggesting those marketing experts are wrong. I'm sure they've conducted their own tests, and developed their own conclusions - and that's what works for them.

However, I've conducted my own pricing tests as well - for myself and for my clients. And the items I tested using prices with the number seven in them didn't convert any better than other prices. So why the discrepancy? Because marketing is not "one size fits all". There are far too many variables involved for anyone to suggest that you will achieve the exact same results as the next person.

Even with everything being equal, results vary. That's why you should never take any marketing experts advice at face value without questioning it. Better yet, you should always conduct your own tests, and develop your own conclusions. That's really the only way to be sure.

Bottom line: If you're ending your prices in seven just because others are doing it, you are foolishly leaving money on the table!

David Jackson

Another Warrior, Paul Hancox, has a great report on pricing your products...with a section on the "legend of ending in 7" or something... I believe it's called The Pricing Report. Good stuff.

Depending on the niche, you may still be leaving money on the table. Outside of the IM arena, which has pretty much been conditioned to expect the '7' thing, you should also test more conventional pricing.

You might find that $29.97 may convert just as well as $27.97. If it does, you pick up another $200 bucks without changing anything else.

And I second the vote for Paul Hancox' report on pricing. Should be on just about every serious marketers must-read list.

Spend some extra time to research the price equilibrium, you may be "leaving" a lot more on the table than you really know.

You title made me chuckle.

I have yet to see any IM guy that is NOT leaving money on the table.

There is just soo much you can do and so little time to implement. Even when outsourcing it is still hard to do everything you can to get maximum earnings out of your business.