So many Clickbank products have prices that end in 7. Prices tend to be: $27 or $27.77 or $37.77 or $57. etc.... What's the deal with 7s? Is there a reason for this? Just wondering. - FB
Statistics and research shows that online and spontaneous sales are best made with price points ending in 7. I've played with a few variations, and until you're getting high volume consistent sales it is hard to quantify, but does hold merit. That's not to say that other pricepoints won't convert, but the markets have been conditioned and re-conditioned to respond to the 7. Perhaps it's the shape, the sound, the way consumers brains work on mass scales when looking for a good offer - you'd think that a 1 would be best i.e. $21-$91, and in retail over 90% aim their sales at the 9 or 99 suffix, then 5-7 for holidays/sales. It is indeed a strange lucky 7 market observation... most of my digital products also end in 7, however i play with other variations too. NC.
There was a guru report on this about a year ago. Sorry I don't remember whose it was. The report said the a study had been done with different number combinations and that prices ending with a "7" converted better.
7 does convert better, one of the reasons, at least one that has been banded about a while back is that a 7 gives the impression of that being the best possible price. It's because a 9 shows that your just cutting your price below the next increment and looks like a trick, where a 7 gives the psychological impression that, you have gone that bit further to lower your price. It's clearly not true, but i do firmly believe that people perceive it this way because the number seems really random in a kind of "this is the lowest it could be" way...
LOL - One of my products actually goes for $77.97 http://shockshift.com/ after a few price point changes, this hasn't imrpoved it for this niche... NC.
It's a convincing argument... but I think I'm sticking to 19.95 for now. I suspect that people tend to "allow" themselves a purchase of under 20 bucks. hmm... I could lower to 17.77.... but why cut into the profits when sales are ok? NCMedia -- Cool website... I love the little play buttons that let you sample the music.... My dog loves "happy raggae... she barks at the computer when I play it.
you know what would convert really well assuming it were allowed?.... $0.07 Just imagine - conversion rates would exceed 20%! Oh, that lucky 7.
I don't know why but I have just set the price for my new clickbank ebook at $37 dollars, I didn't really say to myself the price must end in 7 or anything like that $37 dollars just seemed to be the right price for what I am offering. Maybe I am following the herd subconsciously
I think it depends on your niche as some will work with 7 but others want the "old brick and mortar" .99 or .95 at the end of the price...