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How did you choose your price point?

by WarrenPeterson
4 replies
Hey all,

I'm prepping some pre-launch pieces and am currently going through the age-old pricing process. Over the years, I've had companies with prices all over the map (not within the same product, I mean over the various companies), curious to hear your own thoughts about your own pricing models.

Did you opt to go with low price and high volume, or did you opt to go with high price and low volume?

As mentioned, I've done both. I always feel 'safer' when going with the low price point and feel much more anxious when going with the high price. The safety of the low price can be deceiving however, as without the projected volume, it can become stressful trying to continue to find a new stream of prospects.

So how did you choose your price point, and (assuming you have had that price point now for a while) are you still comfortable with your pricing model today?
#choose #point #price
  • Profile picture of the author craig crawford
    Where are you selling it buddy?

    If it's a WSO or FSO etc... then drop the price as it's a special offer

    And it depends how much do you personally value the product at? Are there similar products out there you can compare it to?

    Are you looking to bring in leads? You have a backend to your business? Or do you want to make more money from the launch?

    We just charge what we believe is fair, and a great deal to the buyer Whilst giving affiliates a nice commission.

    Maybe give the product to say 10 friends and get them to check it out, and give you a price they estimate it at? That way you have ten reviews too!
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    • Profile picture of the author WarrenPeterson
      Craig, I appreciate that. I'm ok with going through the process myself, I'm curious to hear from other business owners about their own price points. If they chose low or high, and if they are still comfortable with their pricing model.

      Pricing is a fascinating part of the business world to me. Price points set expectations, they are part of the branding of the business, they are a filtering mechanism, etc... I like hearing other folks thoughts about the process of pricing.
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  • Profile picture of the author sethalexander
    If it's something that you can split up then always go that way. You'll end up making more. So let's say $197 one time or $79/mo for three months. That is if it's something that has more than instant value or some kind of course spread out long enough. Haven't done any WSO's so no comment on those.

    I usually take the price I think makes it a good deal then up it. I tend to talk myself down but have always been surprised at what people will pay.
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    • Profile picture of the author WarrenPeterson
      Originally Posted by sethalexander View Post

      If it's something that you can split up then always go that way. You'll end up making more. So let's say $197 one time or $79/mo for three months. That is if it's something that has more than instant value or some kind of course spread out long enough. Haven't done any WSO's so no comment on those.

      I usually take the price I think makes it a good deal then up it. I tend to talk myself down but have always been surprised at what people will pay.
      No need to comment on WSOs, that is not my target market. I honestly don't get the WSO market place anyway. Played in that pool one time, don't think I'll go back in. (Although I think it would be fun to create a product there and offer it at what I would consider a good price. Like a $749 course or something like that. I realize virtually no one there would buy it, but that is another topic for another day.)

      I agree that most people talk themselves down with their price points. I have one site that sells an ebook. I used to sell it at $29, then I added some bonuses and other pieces and upped the price to $89. The primary content is the same. I found almost no statistical difference in conversion rates, cart abandonment rates, etc... and (obviously) my income went up in a happy way.

      Nothing like giving yourself a massive raise!
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