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Pricing for the opt-in report

by Raindance
16 replies
I am building a list in a new niche, and I'm doing it the better way by not giving away the report for free. I plan to charge minimal, but it also makes me wonder that if the price is too low; people might assume my report to be substandard, and as a result, completely avoid it. Thus, I'm refraining my from the 99 cents and the $2 pricing. The best price, according to me, will be between $5 and $7, but the problem here will be the quality of the report. The report is just some 10-15 pages. I don't want my subscribers to regret having paid for this report - judging only by the size as there, definitely, are helpful methods and advice in it.

Therefore, I ask you all for suggestions. What do you people think? What price point has proved to be most helpful to you?
#optin #pricing #report
  • Profile picture of the author Brian John
    why is the better way not giving it away for free? isn't the idea to generate a list of as many interested prospects as possible? u'r gonna have people shy away for the few dollars it costs for the report. i'd rather have those people on my list to market to down the road.
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    • Profile picture of the author seanicasia
      It really depends on your intention here.

      I suppose you want to charge for it because you want supposedly 'quality' people in your list?

      On the one hand, while getting people who are willing to fork out money upfront may sound like a good idea, it also really depends on how well your report is written, how well you've structured your backend or how well your pre-selling skills are.

      If you know your backend is going to blow their mind away, I'd suggest you keep the initial report free.

      But if your intention is to make that quick buck upfront with no plan for after, then it's a different story.
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      • Profile picture of the author Raindance
        Originally Posted by seanicasia View Post

        It really depends on your intention here.

        I suppose you want to charge for it because you want supposedly 'quality' people in your list?

        On the one hand, while getting people who are willing to fork out money upfront may sound like a good idea, it also really depends on how well your report is written, how well you've structured your backend or how well your pre-selling skills are.

        If you know your backend is going to blow their mind away, I'd suggest you keep the initial report free.

        But if your intention is to make that quick buck upfront with no plan for after, then it's a different story.
        The intention for charging the report is not to make a quick buck, but to have only those people on the list who actually buy online.

        Keeping the report free invites lots of uninvited guests.

        When something is for free, even kids opt in for those things. I want to avoid that situation.
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    • Profile picture of the author Alexa Smith
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      Originally Posted by Brian John View Post

      isn't the idea to generate a list of as many interested prospects as possible?
      I don't know about "the" idea, but that's certainly one idea.

      Another is to generate a list of as many interested prospects who are known to have either credit-cards or PayPal accounts and the ability and willingness to use them online as possible.

      They're very different approaches: freebie lists and buyers' lists.

      I give all my opt-in incentives away free, myself ... but my targeted demographics - in all my niches - comprise almost exclusively people whom one could fairly confidently allocate to the "buyers' category" above. In many niches, of course, this will be far from true.
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      • Profile picture of the author Brian John
        Originally Posted by Alexa Smith View Post

        I don't know about "the" idea, but that's certainly one idea.
        Another is to generate a list of as many interested prospects who are known to have either credit-cards or PayPal accounts and the ability and willingness to use them online as possible.
        They're very different approaches: freebie lists and buyers' lists.
        I give all my opt-in incentives away free, myself ... but my targeted demographics - in all my niches - comprise also exclusively people whom one could fairly confidently allocate to the "buyers' category" above. In many niches, of course, this will be far from true.
        agreed, qualifying buyers according to some minimal purchase indicates their willingness to actually pay for something, but i think if that's your lowest level entry into the funnel you're missing out on potential customers. i'm of the opinion that having an opt-in for a freebie is the best way to go, alongside selling a low-end, entry-level product.

        again to the op, i think your letting prospects get away should you not have an opt-in for a freebie.
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        • Profile picture of the author Istvan Horvath
          Originally Posted by Brian John View Post

          i'm of the opinion that having an opt-in for a freebie is the best way to go,
          My only issue with the statement above (OK, not "only" because I have a few...)

          - it is an opinion
          - I don't know if it is true for any and every market/niche
          - was it tested?
          ...

          I have tried both ways: figured it can also depend on target group, on product, on positioning myself and the "funnel".
          Can't say there is a one single way that is better than the other. Can you?
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          • Profile picture of the author myob
            With only a couple of exceptions, all of my niches are comprised of subscribers who first made an initial purchase. Although this method undoubtedly misses a certain percentage of "potential" buyers, it does build a much smaller but much more active pool of proven buyers with higher conversion ratios over the long term. Weeding out the freeloaders, or more euphemistically - qualifying the prospects, effectively produces lists of buyers for incrementally higher end products. But, that's just my not-so-humble opinion.
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          • Profile picture of the author Brian John
            Originally Posted by Istvan Horvath View Post

            - it is an opinion
            - I don't know if it is true for any and every market/niche
            - was it tested?
            - as i stated initially, it is only my opinion.
            - it may not be true for every market/niche, but for every market/niche i'm in i've found it to be the best way.
            - in my case yes, i'm constantly testing and refining

            disclaimer...perhaps i should have said: "Based on the niches I'm in, and my approach to selling in those niches, and based on the testing I've done as to the effectiveness of the various opt-in/lead generation models I've tested, I've found giving away something for free to be the most effective method. Furthermore, based off the limited information I have of your model, op, I believe that offering a freebie via opt-in to be the better of the choices you mentioned." Hopefully we can all live with that, lol.

            again to the op, i think you're letting prospects get away should you not have an opt-in for a freebie.

            peace.
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    • Profile picture of the author JeffTaylor
      Originally Posted by Brian John View Post

      why is the better way not giving it away for free? isn't the idea to generate a list of as many interested prospects as possible? u'r gonna have people shy away for the few dollars it costs for the report. i'd rather have those people on my list to market to down the road.
      I honestly feel free is the way to go, but that is just my opinion. I think that a list of buyers is important, however I think the size of the list plays a role to. There are many ways to warm up a cold list!
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  • Profile picture of the author AlexDa
    Well, if the report is in the form of an eBook and it is helpful for the subscribers and it can't be gotten outside in free then you can charge as well.
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  • Profile picture of the author Istvan Horvath
    I agree to a certain extent with the idea of building a buyers' list (customers list) instead of freebie-seekers...

    It is a different strategy and it can be used even "skipping" the free-gift-list step.

    Now for the value and price. Look, if you think (=are afraid) that buyers would be upset after paying the $5-7 because even you feel the content is not substantial... then you, probably, have to re-work that report!

    The number of pages is irrelevant: you can sell a 20 pages book/info for $15 (discount price $12.40) and people will be happy to have it. Just fill up those 20 pages with very relevant, good and unique info. It's that simple
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    • Profile picture of the author Raindance
      Originally Posted by Istvan Horvath View Post

      It is a different strategy and it can be used even "skipping" the free-gift-list step.
      I really liked this part of the post. By directing your prospect straight to a landing page, you are asking all the formal talk to step aside and get down to brass tacks.

      Internet Marketing is already quite complicated with repeatedly trying to impress your subscribers, and pushing them towards buying your recommendations. By selling your opt-in bait, you are stepping over plenty of hurdles.
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      • Profile picture of the author Istvan Horvath
        Originally Posted by Raindance View Post

        I really liked this part of the post. By directing your prospect straight to a landing page, you are asking all the formal talk to step aside and get down to brass tacks.

        Internet Marketing is already quite complicated with repeatedly trying to impress your subscribers, and pushing them towards buying your recommendations. By selling your opt-in bait, you are stepping over plenty of hurdles.
        I am not sure I'd agree with your wording...

        For certain products I sell I do not have any "freebie" to get them on a prospect list and then try to sell them something. When I said "skip" I meant don't even think about it; I only have a sales page and that all.
        No subscribers to other lists, no optin, no nothing. Just a sales page: to buy or not to buy

        On the other hand, I do not operate with "opt-in bait". Bait for me sounds as fake and negative... If and when I have a free report that should be worth at least $7 if sold. It is NOT less value: I just decided to make it a gift. (Like my WP3 DreamTool Report) I am not "baiting" anybody. I am giving away fantastic insight based on my 8 years experience with WP.

        Just wanted to clarify...
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  • Profile picture of the author paul nicholls
    i can see your point of why you would want to build a list this way, because you only want buyers and interested people on your list

    but....unless you already get a tonne of traffic and you are already very well known for creating massive value then i doubt it will work for you

    why dont you give some great value away for free and then insert a OTO after they opt in?

    doing it this way you are still building a list of buyers, and every new subscriber has the opportunity of becoming a buyer right off the bat

    yes you will attract some freebie seekers thats the nature of the game, its always going to happen but out of some of those freebie seekers a few weeks down the line they could become customers of yours

    i only charge $5 for my OTO and it converts at around 8% - 14% when ever i use solo ads

    so out of 100 opt ins i usually get about 10 new buyers, but this is not even including any other upsells they may purchase

    so if your not offering free info straight off then you are leaving a lot of money on the table

    paul
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  • Profile picture of the author Paul Hancox
    Hi Raindance

    The issue isn't the QUALITY of the report. It should be "high quality", as a given... if they're paying for it, at whatever price.

    The issue is the VALUE of the CONTENT, to the reader. Allow them to feel they're getting massive value from the content, and they will be left with the feeling that $7 was an absolute steal!

    Of course, that may mean telling them something new, but it could also be about sharing unique insights with them, better ways of doing things, or techniques they might not have considered before.

    Incidentally, for short reports, you might want to include a little explanation as to WHY you've kept it short, i.e. "to save you time and to allow you to get started as quickly as possible, I've eliminated all the 'fluff'..." etc.

    Help people to realize that you've kept it short for their benefit, and not because it's lacking in substance.
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  • Profile picture of the author Patrick Batty
    call me crazy.. I even think if you give a report for FREE.. even it should be high quality.

    Why do I say this?

    First off, I like my reader to get a real sense of the quality I deliver.

    Secondly, I respect their time as well as mine. So even if my report is free I want them to read something really worthwhile, even though it is free.

    With these two points in mind, I seem to have a very high retention rate of readers / subscribers.. it seems to work really well.
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