$47 vs $47.97 vs $47.97 vs $49 vs $49.97 vs $49.99

Test it and you shall find out.

Any opinion given here would only be that... opinion.

The only way to know for sure is to test them against one another with your own market.

Anything else is just a guess... and effective marketing should never be about guessing.

this is something you'll have to run split tests with on your own, different markets respond to different things in different instances

One day I lowered my price in paypal, but I forgot to lower my price on the sales letter.

Sales jumped.

I'm tossing up between $47.97 & $47.97.

Seriously though - test, test, test. One product/service may do considerably better with $43.18. There is no 'one size fits all'.

Why not, test them? What works for others, may not work for you...

What happened to $47.77 for the gamblers?

7 is a fashion thing

There was a time when the fashion was to end prices with .99

And there was a time when the fashion was .95

At the moment, I am working in whole numbers 10, 20, 30 etc.

When everybody else has changed over, I might try ending with a 3 e.g. 35.63

Or then again, I might not.

Seriously - the testing boys (above) are all right!

Will

There I was thinking there was some deep psychological, subliminal marketing strategy based around ending all prices with 7 only to find out it's only a fashion?

Another IM illusion shattered!

Hi Web Guy,

It all depends on your offer, the quality of traffic you present
your offer(s) to and a lot of other factors to boot.

You can speculate till the cows come home but all will be
revealed once you've RUN THE PRODUCT through and
actually have thrown some TRAFFIC AT IT!

Allow the numbers that come out after testing to tell you
what price points you should be using.

Testing is fun and you'll always see some results that may
SHOCK YOU once you get started with testing.

Good luck with it anyway.

Have a great day!

Regards
Gavin

Odd numbers always flow better.

So $9.95 rather than $10.00

7.99 rather then $8.00


Also give choice between 3 products, one cheap, the one you want to sell in the middle, and put that next to a much higher priced product. I have 3 products, something that sells for 50, something that sells for 200 and somthing that sells for 1000. i dont even stock the 1000 dollar item and never expect any one to by it. The 200 dollar item flys from the shelf.

It all depends. There is no magic number. What is your customer base, what price point is the product, is it a physical product, membership, etc. etc.

$47 is a nice price amount really depends on what you are selling but there is a psychological reasoning behind making a price end in 7.

If you're coming those numbers then $47, $49.97 and $49.99 would work best. $47.99 or $47.97 would not work well. The whole point of the "7" ending is to make the price significantly lower so people's psychology works different from $49.97 or $49.99.

Now we're lowered it down to three numbers from five. If you wanted to know whether to use $47 or $49.-- then it would depend on your offer. If you are selling a digital product (aka. reproducible without expenses -- intangible), usually the price you would choose is $47. Also, this price would mainly be set for ebooks. If you were selling a software then you may choose either the $47 price or $49.97 price -- however I would recommend you choose $49.97 rather than $47 (gives your software more authority). Usually with software you would choose the $49.97 price -- not ending in 99 (decimal places) or the whole 47 price. If you were selling a physical product then you would likely choose $49.99 (it would be the better option of $49.99 or $49.97 -- however that comes down to testing).

This may be quite confusing and you shouldn't worry a lot about this unless you have a lot of sales and the conversion would actually make a large impact. Just understand the main psychology and reasoning behind these prices.

It was around 9 years ago when I had tested out my ebook price points at $19, then $19.95, then $29.95... and then jumped to $47.

$47 converted best for me for quite some time. I have no idea why I didn't, but I skipped over $39.95 at the time.

Then I started seeing that $39.95 price point on almost all of the infomercials
I'd watch on TV. $39.95 was, by far, the one price point I was noticing all
the time on the infomercials.

Well, lo and behold... $39.95 increased my conversions by almost 30% without
changing anything else on the sales page. I tested $47 and $39.95 and the
$39.95 destroyed it.

So now, i don't even bother wondering about price, i just set up 2 pages and
test it out.

You forgot 47.77

RoD

I'm going to go with $47 or $49 as it's simple and a good price break from either $99 or $97.

Adding change on a product of that price doesn't seem like it would sway people into thinking they are getting a better deal. It might make $4.95 matter as you can say it's under $5.00. But under $50 and you have a bit of a range where change doesn't matter.

The bottom-line difference between these prices will not be statistically significant for anything less than ten thousand sales, at which point each full percentage point difference will represent $300.

Out of slightly under half a million.

Mathematically, this is a stupid question. Stop wasting your time on it. Pick one.

I have watched Walmart online pricing for awhile and it has changed a lot recently. In the past they mostly used xx.88 (especially the "rollback"), xx.97 and xx.99. Now it is all over the map with almost every combination of cents you can imagine such as xx.19, xx.27, xx.45 and so on. It does vary by department though. In most departments now the most common are xx.00 (#1 in some departments now), xx.97, xx.99 and the famous xx.88. Even those four though only slightly edge out the numerous other combinations. One noticeable thing is in the food department there is almost never ever a xx.00.

This is not scientific. If I got serious I would get obsessed and waste three days pulling data.

The only thing I know is if I had something to test right now I would definitely try out $20, $30, $40, etc. You can pull up page after page on Walmart now and see 18 products with xx.00 and only a couple products with cents added on the end.