I own this website. So far, I've had several sales since 5 days ago when the website was launched. Do you think that raising the price to, say, $19 or $27 or even $35 would boost my sales/profit? Here's my way of thinking: $35 is not of a big difference to someone who is willing to give $14 for the website already. That someone's way of thinking may be "Oh, this is so cheap [$14], probably lots of people will buy it which will defy the purpose and I'll end up having the same site as everyone else!" I assume that the number of sales would not increase, but my profits probably would. Do you agree? Thank you.
Perceived value is the key. You can increase the price if your buyers still think they are getting a deal. You can charge $99 if your buyers think they are getting more than $99 in value. If they think they are overpaying instead of getting a steal they won't buy.
I guess it depends upon your target market. Who are you selling to? Housewives with 2.5 kids that are bored? Or someone that already has some money? The housewife may purchase because of the price. Someone with some business savy knows that you get what you pay for in this world. So if they see something so cheap they will pass it by because they know if it sounds too good to be true it probably is. By having a higher price you attract a higher income bracket. In any business plan you always plan out your demographics. Then you tailor to them. So I guess you have to ask, what is better? A single $1 bill or 4 quarters? One last thing, I noticed when I was in construction, the best selling contracts where the ones in the middle. The low priced contracts seemed to draw suspicion. The high dollar contracts looked like a ripoff.
Before you think about the price, add a affiliate program to your website. You will see a lot more traffic to your website and get a lot more sales. After that is done, you may want to think about price because you need your affiliates making a nice amount of money and your profits need to worth it.
That's a good idea and could work well for your site. I'm currently setting up an affiliate program for my video game store. There are quite a few out there for low cost. Search for reviews of them.
Ha ha ha .. You can believe it or not, but I just wrote a blog post exactly for people like you! Highly Effective Marketing using Affiliates sales What you can do is to increase sales price a bit and offer the increased value as revenue share with affiliate publishers. That will increase your sales volume and help you rank on top of the search engines for your products. Its the best thing you can ever do! Cheers m8, Venetsian.
maybe change a policy that will make ur member candidate more interest to join ur website will more efficient
wow.. No I don't ... affiliating is the best thing ever! It simply outsources your marketing efforts to other people and you get much more sales. It works perfectly for me. Cheers. Venetsian.
Well I'm not sure how to advise. But base on my experience, gradually increasing the price does help. In my case I offer software. I know my software is good but I need to build its own track record to prove itself. So I offered it at a very low price to start off with. But with the purchase, all my buyers will get FREE lifetime upgrade. So as part of getting a lifetime upgrades and plenty more freebiez and great support, they will need to put in their review. With a growing number of good review, I can slowly increasing the price in every upgrades. And yes I still get many sales though. In fact I even get people begging for a lower price just to get a feel of it. Cheers,
Yes, Once everything is in place and you start getting affiliates to promote your product. You will surely get a lot more sales. Remember to provide your affiliates with the best ads. Text ads, banner ads, email ads, and whatever else you can think of.
I've seen a couple of people above mention some great stuff, but this really depends on your target market. If your niche is aimed at people who have money in their pockets, then you may want to stagger your increase. e.g. $14 for the next 10 people, $17 for next 25, $27 for the next 25 people and so on. Again, check what your competitors are offering in your niche. If you go too high for your product, then you are basically pricing yourself out of the market. Try advertising other affiliate products in your niche that you think are decent (even JV with another website owner in your niche). For people who buy the affiliate product from your website, you will give then the first 5 chapters of your product free (or something like that!) and if they want the rest of your product, they can purchase at a discount price! Again, your JV partners can put your product in front of their customers and offer some form of bonus to entice them to buy.
Once you get some clients that do well with this, testimonials posted on your site will aid in your conversions.
well that sounds to me a good idea ppl get attracted to higher prices sometimes coz they think they'll get better quality
I would push up the price myself, I am planning to come out with a product next Jan. I have been studying CB products for a couple of years and as a general statement the best selling ones cost $45+
The word "this" in my original post linked to the website, apparently, the mod has edited my message. Anyway, the link is in my signature. I am still in dilemma. I think I'll leave the price low for now, and maybe raise it later. EDIT: Oh, yeah, I've also launched the affiliate program. Just check out the sig in my link and click on "affiliate"