In case you did not know clickbank now lets people pay in their own currencies, so for instance here in Canada when I clicked the order button for a $39 product I saw 52.60CAD instead. Psychologically the product now looked a lot more expensive I wonder what you guys think of this new change would it be good or bad for conversions???
I think it will have a bad impact for international users, especially Canadians. A lot of folks here are used to Canadian dollar being almost equal to the American dollar... Let's say 39 US would be 40 CDN... but now Some will simply think it's false advertizing, without thinking of the exchange rate... ... and as you mentioned, it is psychological...
Hmm, yeah.. I'm also a little concerned about this. But I'm sure if it does affect sales throughout the network substantially, they will do something about it. Although I'm not too sure what they can actually do about this, lol..
Ouch that really sucks.... i know UK buyers have increased on ebook purchases due to the dollar being almost worthless for us i.e. we can get loads of crap for literally no money..... now that sucks ass.
Yeah I noticed this the other day, it definitely looks like a lot more money in a psychological state as you said.
I just done a check on what it shows and it does seem t be a VERY poor exchange rate used by Clickbank... $49.97 = £31.40 using xe.com $49.97 = £30.13 using wells fargo currency calculator (Clickbank apparently use their rates - the likely amount charged under the old system). However, on the checkout page... $49.97 = £33.22 And then you have to add even more on for the sales tax/VAT which makes it appear even more like false advertising. This is likely to have a negative impact on sales rather than a positive one as it definitely appears to be more expensive with the new system... almost 10% more expensive.
I do think this could effect sales but in regards to false advertising, it wouldnt be. If your telling them what the price is in $ then this doesnt actually change so even if $50 is £45 instead of say £25 your still charging them $50 so its not lying to them. You could always set up a script which changes the curreny on your website depending on where your visitor is browsing from
Don't forget one thing - if the customer feels that the ClickBank exchange rate is way more than it should be, customer can always continue to pay in US$ as they have in the past. I do that all the time. If I feel that a company is gouging me on the exchange rate by padding it a few percentage points, then I just make the purchase in US Dollars and let my credit card company do the exchange rate. Some people like to pay in their native currency but a lot of people know that it is a way for web sites to make more money, by inflating the exchange rate. The way around it is to continue to make the purchase in US Dollars.
Also the Canadian dollar being low must suck for those Canadian affiliates that weren't bright enough to open up a U.S. account to cash their U.S. checks! It's great for me as I'll make thousands of dollars with the click of a button when I convert my U.S. funds to Canadian...muhahahahaha!!!! The quickest money I'll ever make.
Great for the UK massive.. however I keep an eye on the dollar, and its moved down .2 in a week. but up .07 since yday. Not looking forward to the 1.4s.. everything suddenly becomes expensive!
Hey, I am a Canadian affiliate and I am very happy I looked in my CB report, they say I got a payment (DD) of $4,000. I check my bank account, and I have a payment of $4868 !!! My rent is till the same, my car payments are still the same and the groceries cost the same, but instead of $4k I have almost $5k - me = happy. Alex
i dont see anything wrong with seeing the price in the own currency, it might even boost sales. If people from EU etc. see a price in $$ (just as an example) they might think they cant pay! I am sure CB thought this over...if it would decrease sales they certainly wouldnt have done this.
As long as the gas prices keep dropping you can rest assured the dollar will regain its growth. Once the idiot is out of office things will start to improve. The US might be down... but we never give up!!!!
Personally - Don't like it. Solution - Let publishers decide what currency it should default to should they not want local pricing. Problems - Publishers all have to add USD to their pricing text/graphics, or get localized call scripts to call different prices/graphics, these scripts are not 100% accurate either. Perception of sales page price to final price plus conversion costs and only a small little mention of it with a drop down for other currencies. I feel they should have thought this through better and had a bigger focus group on it, and allowed flexibility to publishers not to force them along their business model/plans but give them the option to instead. Overall it's just a matter of time/effect before a reaction happens... So far not much has changed re orders - however today being the first Saturday my whole line up is not converting as well as it usually does. It leaves me antsy not being able to control what price/currency my customers see without having to change the currency themselves back to US... /N.
Well actually I think most of us are thinking about ourselves. However the ? is what does the consumer want?? In the country where the consumers live they would typically spend the local currency so this should have little to no effect and actually make the consumer feel more secure. Use it to your advantage and stop whining......because Clickbank is not looking to take a loss in sales by implementing this....
I am worried about this, I think the timing is terrible for CB to make this change especially with the currency exchange being so volitile. In one way the dollar being stronger against the pound is great for me as I get more pounds for my CB dollars. The flip side is that if I am a UK purchaser and I see a product advertised at $49 on a sales page, I would have been thinking roughly half the price in pounds, circa £25, but when I go through to pay it is more like £35. If I was paying by credit card I would not have noticed the conversion rate until I got my bill. By CB doing this, they are pointing out the poor rate up front. I suppose it depends how much you rely on international sales.
Just sent an e-mail to Clickbank, suggesting to change this upgrade once again. I suggested they display price like this: $39 ($50CDN) $39 (£20) $39 (€27) ... depending on the country
this is lame. a $29USD product is $50AUD! i know whenever i buy stuff in USD i always forget about the exchange rate. mare.
As a publisher/affiliate I dont like this at all. A $49 US product is now $83.99 AUD !! Ouch! This will make international conversions lower. edit: You beat me Mill.. Yes, AUD looks very bad..