Price point advice needed oh great sages...

by hd28qi
3 replies
Hey there!

I have a webinar product coming out in a few weeks that will most likely get a sublist of about 2000-3000 on the launch. I am used to converting like 30% of a sublist.

It's a HIGH quality product with about 8 hours of very professional looking videos and lessons.

I am in a niche that is not a make money niche and does not have lots of people with money. For example, I charge $10/mo for my member site that blows most member sites out of the water content wise.

This webinar could believably be sold for $197, which will be my "cross out" price before I reveal the REAL price.

I am thinking $97, but then I also wonder about $47. Economy is tough, and I really need to sell a lot of these.

Any wisdom out there on $47 vs. $97??

I THINK I once heard that if someone will pay $47, they'll pay $97... but I have no idea if that was said by someone smart.

It's a big launch, so I can't really split test nor do I have time.

I want to sell a lot, but I also do not want to cheapen the product, ya know?

Any advice?
#advice #great #needed #point #price #sages
  • Profile picture of the author Trivum
    I would think about the benefits that your members will get from joining. Think of all the benefits individually and write them down. Then try to determine how much money those benefits would be worth if someone had to pay for them. Are they saving time? What would it cost if someone else did it for them to save them that time? Are they saving money? How much? ... Etc., etc.

    After doing that, add up all the "value" in dollar terms (as best you can). Once you do this, along with the instincts you have about your market, you may get a better idea about what someone would pay. (By the way, I'd use all those specific numbers in your sales pitch.)

    Even though you said you can't test this with different price points, you might try to on a very small or local basis - simply ask some people you know/trust who are interested in the niche.

    Also, are there other things in your market that are similar? What do they cost? If not, are there other markets that are similar to yours (same basic demographic) that have something similar? ... Compare.

    By the way, if it's related to herbs, as your sig links are, I know there was a guy who seemed to be doing fairly well with juicing (at least from the outside it looked as if he was doing fairly well). ... You might check out his pricing. (Maybe you know/know of the guy - juicefeasting <.>com)
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  • Profile picture of the author Rus Sells
    Many people equate quality with pricing so what I would do even though you said you don't have time is try and split test your pricing.

    You could simply do this with some PPC ads over the next few days.
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  • Profile picture of the author Kevin_Hutto
    Is your niche the one in your sig? If so, have any of these people ever paid that for an info product in the niche before? If not, then it might be tough to reprogram their anchor price. Also, what price point were they exposed to getting on the list(if any)? If you have the time, I would maybe send out a blast email to 2 small segments of the list - say 200 for each blast - and try and anchor them to a price. In other words, ask them(with a survey) if they were willing to pay $100 (or $120) for a "hypothetical product" like yours. Then tell them that you are indeed gonna launch it and were thinking about charging $197 but had decided to sell it for $97... See how many you convert... Do the same thing with the lower price point. See which one nets you the most money. Then promote it that way to the whole list. If your 30% conversion rate holds up for both, then its a no brainer.
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