28 replies
Have you tried these price points,

which one do you looks better to be used as a price ?

As i have sometimes seen the .95 on some sales pages ?
#$1995 #$1999
  • Profile picture of the author 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.
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    • Profile picture of the author davidkings
      Originally Posted by mbacak View Post

      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?
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      • Profile picture of the author mbacak
        Originally Posted by davidkings View Post

        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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  • I doubt you will find big differences in conversions, but .95 seems more of a common practice.
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  • Profile picture of the author mbacak
    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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    • Profile picture of the author chinadave
      Originally Posted by mbacak View Post

      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 View Post

      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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      I might be new to the warrior forum, but I'm not new to business. I own 7 factories in China and is connected to over 3000 more, 37 companies and growing, 200+ websites, 6 houses.
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    • Profile picture of the author Plugin Profits
      [DELETED]
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      • Profile picture of the author chinadave
        Originally Posted by Plugin Profits View Post

        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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  • Profile picture of the author techbul
    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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  • Profile picture of the author erwin78
    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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  • Profile picture of the author Daus
    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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  • Profile picture of the author mikelmraz
    You'd need a whole new WSO to explain which one is better. Watch this space.
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  • Profile picture of the author 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...
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    • Profile picture of the author clickfund
      Originally Posted by WarrenPeterson View Post

      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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  • Profile picture of the author nicholasb
    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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    • Profile picture of the author chinadave
      The real answer is "TEST", here's proof:

      Originally Posted by mbacak View Post

      you need to find out the answer for yourself by testing it.
      Originally Posted by erwin78 View Post

      you must test and test.
      Originally Posted by Daus View Post

      Try test the $19.97
      Originally Posted by WarrenPeterson View Post

      I've tested all over.
      Originally Posted by nicholasb View Post

      the first initial test
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  • Profile picture of the author 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.
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    • Profile picture of the author Michael D Forbes
      Originally Posted by John Romaine View Post

      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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  • Profile picture of the author celente
    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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  • Profile picture of the author AndrewCavanagh
    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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    • Profile picture of the author Plugin Profits
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      • Profile picture of the author AndrewCavanagh
        Originally Posted by Plugin Profits View Post

        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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  • Profile picture of the author mrgoe
    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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  • Profile picture of the author smodha
    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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  • Profile picture of the author ElaineBrown
    Banned
    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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  • Profile picture of the author Igor Fridrihs
    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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  • Profile picture of the author hirechrisgunn
    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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  • Profile picture of the author bss2t
    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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  • Profile picture of the author AlexandraMarch
    Banned
    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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