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

31 replies
Hey Warriors!

What is your opinion on what the best price point is between these:

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


Obviously I am looking for the best conversion rate ...or $ per visitor amount.

Which is best?
#$47 #$4797 #$49 #$4997 #$4999
  • Profile picture of the author WillR
    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.
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    • Profile picture of the author Abrar Tariq
      Originally Posted by WillR View Post

      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.

      Agreed test it. Further in theory 99 is associated with value so 49.99 might be good. but again you have to test it. =] Hope that helps.
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  • Profile picture of the author nicholasb
    this is something you'll have to run split tests with on your own, different markets respond to different things in different instances
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  • Profile picture of the author David Maschke
    One day I lowered my price in paypal, but I forgot to lower my price on the sales letter.

    Sales jumped.
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    • Profile picture of the author WillR
      Originally Posted by David Maschke View Post

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

      Sales jumped.
      I've actually always wanted to do a test on this exact thing.

      We know from services such as Clickbank that a lot of customers do actually click through to the order form to look at it, and then most abandon it.

      So my theory is if you list the price on the salespage a little higher than the price on the order form, they will see it and think there is some type of screw up and they had better take advantage of it right away.

      Would be an interesting test.
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      • Profile picture of the author Taniwha
        Originally Posted by WillR View Post

        they will see it and think there is some type of screw up and they had better take advantage of it right away.
        That's exactly what I was thinking. Create a sense of urgency by taking advantage of a "mistake". Although in a way, it's unethical; or as Alexa Smith said - immoral.
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      • Profile picture of the author David Maschke
        Originally Posted by WillR View Post

        I've actually always wanted to do a test on this exact thing.

        We know from services such as Clickbank that a lot of customers do actually click through to the order form to look at it, and then most abandon it.

        So my theory is if you list the price on the salespage a little higher than the price on the order form, they will see it and think there is some type of screw up and they had better take advantage of it right away.

        Would be an interesting test.
        I've been out of the internet marketing game for a while.

        But I always wanted to test a little more too. I did, however fix the price (after I got off my lazy butt), and the sales dropped.
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    • Profile picture of the author GDW
      Originally Posted by David Maschke View Post

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

      Sales jumped.
      Good one haha
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      Now this is how you are going to make a shit load of Easy Cash. BY COPYING ME!!!!! Click here...
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      • Profile picture of the author Alexa Smith
        Banned
        Originally Posted by TheWebGuy View Post

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

        Obviously I am looking for the best conversion rate ...or $ per visitor amount.
        $53 or $54 might easily be better than all of them.

        Here (if anyone has room for one) is a very different view of prices ending with a seven: Why 7?
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    • Profile picture of the author Marc Rodill
      Originally Posted by David Maschke View Post

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

      Sales jumped.
      Can you tell us what the price advertised and the accidental price was? Was it a big margin of error, or just a little bit that spiked it?

      Thanks!

      Marc

      Originally Posted by plasmap View Post

      Odd numbers always flow better.

      So $9.95 rather than $10.00

      7.99 rather then $8.00

      That's the problem with the word always. It always has to work or you can't use that word. Lee McIntyre used to sell an interview product for $9.95. His sales shot up when he made it $10.

      That's why the real answer is Will's answer. It depends, and test.

      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.
      This is definitely something to do though. Lots of good examples of having a choice of three packages, where the middle one is automatically purchased more.

      Psychology is, some people always buy the most expensive thing. Most others don't want to buy a so-called cheap thing, so they take the middle. Good way to boost your margin!

      Marc
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  • Profile picture of the author Taniwha
    Originally Posted by TheWebGuy View Post

    Hey Warriors!

    What is your opinion on what the best price point is between these:

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


    Obviously I am looking for the best conversion rate ...or $ per visitor amount.

    Which is best?
    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'.
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  • Profile picture of the author TeamBringIt
    Originally Posted by TheWebGuy View Post

    Hey Warriors!

    What is your opinion on what the best price point is between these:

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


    Obviously I am looking for the best conversion rate ...or $ per visitor amount.

    Which is best?
    Why not, test them? What works for others, may not work for you...
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  • Profile picture of the author GforceSage
    What happened to $47.77 for the gamblers?
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  • Profile picture of the author Will Edwards
    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
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  • Profile picture of the author ozlizard
    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!
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    • Profile picture of the author Will Edwards
      Originally Posted by ozlizard View Post

      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!
      Well, numbers have always fascinated me and I am sure there will be people ready to give you that psychology if you want it. But you can make anything of it that you want.

      Will

      PS Never trust a number that is not in the Fibonacci sequence.
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      • Profile picture of the author Alexa Smith
        Banned
        Originally Posted by Will Edwards View Post

        PS Never trust a number that is not in the Fibonacci sequence.
        There's always a catch. There goes the rest of the year (2013 isn't a Fibonacci number, is it?). :p
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        • Profile picture of the author Will Edwards
          Originally Posted by Alexa Smith View Post

          There's always a catch. There goes the rest of the year (2013 isn't a Fibonacci number, is it?). :p
          Trust me, you won't be alive the next time the year is a Fibonacci number

          However 2013 is the smallest positive integer (excluding numbers ending in zero) that when added to its reflection is exactly equal to five times the permutation of its digits (2013+3102=5*1023).

          Will
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          • Profile picture of the author Marc Rodill
            Originally Posted by Will Edwards View Post

            Trust me, you won't be alive the next time the year is a Fibonacci number

            However 2013 is the smallest positive integer (excluding numbers ending in zero) that when added to its reflection is exactly equal to five times the permutation of its digits (2013+3102=5*1023).

            Will
            Personally, I think you should be banned for that statement. You just hurt my brain...

            Marc

            Originally Posted by Rod Cortez View Post

            You forgot 47.77

            RoD
            Actually a pretty popular price point in my book for some reason...
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          • Profile picture of the author operationbob
            Originally Posted by Will Edwards View Post

            However 2013 is the smallest positive integer (excluding numbers ending in zero) that when added to its reflection is exactly equal to five times the permutation of its digits (2013+3102=5*1023).
            My IQ is entirely too low to be in this thread.

            To the OP: Thanks for asking the questions. It's a really interesting topic and I'm always curious about the psychology of pricing. I think there are two sides of it: what potential customers perceive and what sellers think potential customers will perceive. I suspect it's more often influenced by the latter.
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  • Profile picture of the author gcbmark20
    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
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  • Profile picture of the author plasmap
    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.
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  • Profile picture of the author Brian Tayler
    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.
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  • Profile picture of the author Alex Mensah
    Originally Posted by TheWebGuy View Post

    Hey Warriors!

    What is your opinion on what the best price point is between these:

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


    Obviously I am looking for the best conversion rate ...or $ per visitor amount.

    Which is best?
    $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.
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  • Profile picture of the author Ben Gordon
    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.
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  • Profile picture of the author shawnlebrun
    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.
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  • Profile picture of the author Rod Cortez
    Originally Posted by TheWebGuy View Post

    Hey Warriors!

    What is your opinion on what the best price point is between these:

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


    Obviously I am looking for the best conversion rate ...or $ per visitor amount.

    Which is best?
    You forgot 47.77

    RoD
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    - Jim Rohn
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  • Profile picture of the author PaidAllDay
    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.
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  • Profile picture of the author CDarklock
    Originally Posted by TheWebGuy View Post

    Obviously I am looking for the best conversion rate ...or $ per visitor amount.
    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.
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  • Profile picture of the author Janice Sperry
    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.
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    • Profile picture of the author yukon
      Banned
      Originally Posted by Janice Sperry View Post

      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.
      Walmart is a good source for pricing strategies, at least a starting point.

      Walmart humor?




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