$19.95 VS $19.99 ?

10 years ago

What about $19.97?

In all seriousness, no one can tell you the best answer to this question because if they do it's only a guess until you split test it for your self on your own offer page. If you truly are concerned about having the "right" price point you need to find out the answer for yourself by testing it.

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davidkings

10 years ago

Originally Posted by mbacak

What about $19.97?

In all seriousness, no one can tell you the best answer to this question because if they do it's only a guess until you split test it for your self on your own offer page. If you truly are concerned about having the "right" price point you need to find out the answer for yourself by testing it.

Thanks.
Is there one you have used more, in the end of your price number?

Thanks
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mbacak 10 years ago

Originally Posted by davidkings

Thanks.
Is there one you have used more, in the end of your price number?

Yes, I personally always end my offers with a 7 hence why I said that... UNLESS
I'm strictly marketing to the Asian community and if I am I end in 8 :-)
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Anonymous Affiliate

10 years ago

I doubt you will find big differences in conversions, but .95 seems more of a common practice.

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mbacak

10 years ago

Here's a good read:

Pricing Psychology: 7 Sneaky Retail Tricks - CBS News

Also, read this too. (from the warrior forum)

http://www.warriorforum.com/main-int...nding-7-a.html

And here's some really good advice from my Mentor and friend, Ted Nicholas:

The Number 7 : Ted Nicholas & Product Pricing Strategy

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chinadave 10 years ago

Originally Posted by mbacak

Yes, I personally always end my offers with a 7 hence why I said that... UNLESS
I'm strictly marketing to the Asian community and if I am I end in 8 :-)

Originally Posted by mbacak

And here's some really good advice from my Mentor and friend, Ted Nicholas:

The Number 7 : Ted Nicholas & Product Pricing Strategy

This is excellent advice. I know it's true from personal experience plus I also know Matt & Ted are big testers I'd recommend listening to their wisdom!
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Plugin Profits 10 years ago

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- chinadave 10 years ago
  
  Originally Posted by Plugin Profits
  
  Hah! Scarcity is not dead!
  
  Amen to that!
  
  By the way, really good share to by you (Plugin Profits) and Matt Bacak! Thanks for re-pointing that out :-)
  
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techbul

10 years ago

I think the .95 price is pretty used my most marketers, but I am not sure it matters that much. I personally buy products because they are quality ones. If you have a kick-ass product you can even price it at $19.43043 and it would still sell like crazy

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erwin78

10 years ago

Go everyone,

the right price is very important but to know which one is the best you must test and test.

And the advice about 7 is worth considering.

I wish you all the best and have fun earning money

See you on top
Erwin

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Daus

10 years ago

Try test the $19.97

Gary Halbert, that was one of the legendary copywriters has also talked about it and credited it to Nicholas. IMHO, the end number of the price won't affect much but most of the gurus' products' price end with number 7.

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mikelmraz

10 years ago

You'd need a whole new WSO to explain which one is better. Watch this space.

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WarrenPeterson

10 years ago

Doesn't really matter. As a lifelong Chicago Bulls fan, I often end my products with .23 so I would sell at 19.23. I've tested all over, and can only speak for my market - for them makes no difference whatsoever...

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clickfund

10 years ago

Originally Posted by WarrenPeterson

Doesn't really matter. As a lifelong Chicago Bulls fan, I often end my products with .23 so I would sell at 19.23. I've tested all over, and can only speak for my market - for them makes no difference whatsoever...

Love it, Chi is my hometown. That is a good angle ending it with.23 Maybe I will test that out. I think like several here said, if the product is quality then it won"t matter if is .95 or .97 or any other ending

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nicholasb

10 years ago

I have an offering that's $19.99 the first 30 days and 197 a month after that, $19.99 is the first initial test and it seems to be working pretty well.

I don't know why I decided on that price on the trial, it was just the first number that came to mind.

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chinadave 10 years ago

The real answer is "TEST", here's proof:

Originally Posted by mbacak

you need to find out the answer for yourself by testing it.

Originally Posted by erwin78

you must test and test.

Originally Posted by Daus

Try test the $19.97

Originally Posted by WarrenPeterson

I've tested all over.

Originally Posted by nicholasb

the first initial test
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John Romaine

10 years ago

Neither.

Why even have the cents on there? What for?

Looks to me like wank factor.

Have a look inside the menu of any restaurant and they drop the "cents" off the end to make the pricing look "visually" cheaper.

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Michael D Forbes

10 years ago

Originally Posted by John Romaine

Neither.

Why even have the cents on there? What for?

Looks to me like wank factor.

Have a look inside the menu of any restaurant and they drop the "cents" off the end to make the pricing look "visually" cheaper.

I get what you are saying, and at higher price points, the cents is pretty insignificant, but think of this:

$9.99 vs. $10.00

A difference of 1 cent, why bother? Why not make it ten? Because we read that left to right and most peoples minds anchor to the 9 and DO consider the cents insignificant. $9 is a decent percentage less than $10. That becomes significant.

So why not just say $9? Because the buyer, is not going to fuss over .99 in most cases, but to the seller it represents as much as 10% more revenue, and at this price point, depending on the type of item (especially physical goods), that 10% could be the difference between profitability or not.

Back to the original question of $19.95 vs $19.99 (or $19.97 even)...

It's pretty doubtful that there is a significant difference between them, but I base that on gut, rather than hard research. I do know, however, that it only takes 1 extra sale at $19.95 to make up the .04 spread on 399 sales. May as well price it lower. It seems that at least 1 out of 400 people will care enough for it to matter, though I don't know why they would. Some people are just that way.

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celente

10 years ago

chinadave just gave the best results.

1) Test

2) measure

3) use the one with the best results.

sometimes increase price will actually make you less sales, but more profits.

Sometimes it doesnt, but you have to test your nuts off to find out.

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AndrewCavanagh

10 years ago

The only way to know for sure is to test and to test
on a large enough scale so your results are statistically
significant (thousands of impressions).

I doubt either price would make a substantial difference
in response.

What WOULD be worth testing is prices like $19.99 and
$29.99, $99.99 and so on.

With those price differences there's a real chance that one
will make you a LOT more money than the others.

When you test you want to give yourself a chance of winning
big if things go well.

Kindest regards,
Andrew Cavanagh

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Plugin Profits

10 years ago

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AndrewCavanagh

10 years ago

Originally Posted by Plugin Profits

I have a question about this type of testing. What as been other's experience and opinions on testing at one price point and then since that price didn't bring as good of conversions as you hoped for you want to test at lower price points.

Though what about the customers that see that that already paid more for the exact same item you're giving away for less now? Do they get upset about it?

I see a lot of products go down in price or be given away for free a lot after they were paid for products. No upset past customers?

I did that once with an Ebook, having it go on sale for 1/5 the highest price it had sold for, and made the mistake of not correctly segmenting out the small percentage of the list that had already bought it at the higher prices. I got a lot of sales of it at that discount limited offer, though also got an email from a very angry past customer who was mad he paid so much more and now I was practically giving it away.

You need to manage your list of past buyers effectively.

A good strategy would be to give the people who paid
full price a valuable gift just before you do your lower
price test.

Or you could make the gift part of your follow up email
series.

Kindest regards,
Andrew Cavanagh

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Alexa Smith Banned 10 years ago

And here (if anyone has room for one) is a very different view of prices ending with a seven: http://www.warriorforum.com/main-int...ml#post7506670
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mrgoe

10 years ago

It`s crazzy how much you really learn on this website even if you don`t know anything. I`ve started doing WSOs to make some money so long ago ! I`ve started doing the whole 19.99 stuff just because I saw it on tv. But as soon as people started with 17, 19.97, 27 and so on, I`ve done it just because it was something professionals did. And it worked. Without knowing all the blabber about the number 7, I`ve done this with success just because this forum thought me it`s better

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smodha

10 years ago

I studied this concept back in college. It's to do with how the human mind interprets numbers. Businesses use $19.99 instead of $20 because sub-consciously when most people see $19.99 the brain interprets that as $19 and not closer $20. This slight change is worth millions.

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ElaineBrown

Banned 10 years ago

I would recommend 19.95 because 19.99 is closer to 20 and maybe buyers tend to picture your product in their mind as being sold for 20

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Igor Fridrihs

10 years ago

I don't think there is a huge difference between two numbers. In any case people associate it with $19, but not $20. This is a catch.

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hirechrisgunn

10 years ago

Here's a great read Which Price is Right? | Fast Company | Business + Innovation. Hopefully you'll come to your conclusion. There are some interesting points if you are entering into a market where a similar product is already developed and selling.

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bss2t

10 years ago

I like 7 because it is considered a "lucky number" and has meaning in Christianity...which most Americans consider themselves to be.

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AlexandraMarch

Banned 10 years ago

I don't think it makes such a big difference for buyers...some will see it as under 20, some will round it up in their head anyway..I would go, with 19,99, if might be the same for the buyer, but in large volumes might make a difference for you.

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$19.95 VS $19.99 ?

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