Hi All,

I'm in the process of testing certain price points for my product on my sales page.

I wanted to get others' opinions on certain price points that have worked well for them.

Currently, I sell a 139 page fitness program (ebook and printed book combo)

I'm testing $59, $59.95, $67, and $69 respectively.

Can I ask, which price point would visually work best or which price point has worked well for you.

Thanks!
Shawn LeBrun

Hi, Shawn!

I have no practice of selling fitness products, but it seems to me that *9.95 price format always works better. I mean i.e. 59.95 isbetter working price that 60, 58.95 is better than 59 and so on.

This is how price scheme works for me

Try $57 and $59.97..

I think $ 59.97 is better than $ 57. You know why? 'cause there will be a 'discount' perception in prospect mind. I tested it some months ago and *9.97 is the best price format.

Shawn,
It is impossible to give you an answer without knowing more. Everyone who has thrown out prices is just shooting in the dark with no clue....

What is your total cost of doing business per order?

Do you offer an upsell at the point of purchase? If so, how much is that and what is your percentage of profit?

Do you have back-end sales opportunuties ready to go or do you need max profit on the first time sale?

Shawn,

I'll bet you already know what my answer to this question is going to be but...

You are already doing it.

The only way to know is to TEST.

Personally, I have found prices with "7's" in them convert better for most B2C offerings (and some B2B.)

Such at $47 or $67. If you are going to test the 'discount' perception trick, try $xx.97 rather than $xx.95 or $xx.99. But my testing has shown that $47 works better than $46.95. (Again, this is only results for certain audiences and certain products, yours may be different.)

But as always the real answer is TEST!

Eric

I don't know what will work best for you, but here are some thoughts.

I've done some extensive price testing, and one ebook a client of mine was selling for $19.00 turned out to have the best visitor value at $79.00!

(He tried all the multiples of $10 from $19 up to $99)

The best CR% was at $39.00, but the best visitor value (profit) was at $79.00. We would have never known this without testing.

When you price test, you have to look at visitor value, and not get hung up with CR%.

In case some of you don't know what visitor value is - it's easy...

(# of sales x price) / (#visitors) = your visitor value

I have personally found that stats more or less level out after 2000 visitors have seen your offer (for most sites). If you have A LOT of traffic (like more than 1000 a day seeing your offer), then it might take more to take into account the various week-day changes in sales.

Here's an example 3- way price split test:

A) (21 sales x $19) = $399 / 2010 visitors = $0.19,8 visitor value

B) (31 sales x $39) = $1,209 / 2008 visitors = $0.60,2 visitor value

C) (18 sales x $79) = $1,422 / 2012 visitors = $0.70,7 visitor value

So each visitor who sees the site (in case C is worth about $0.70 as an average) - this also helps to know your PPC limits.

If we consider the stats valid, then obviously it looks like C will be the winner, but since B is close - I would run the two a little longer, not just to make it statistically more sound, but also because you might have discrepancies in refunds to take into account.

Pretty basic stuff, but I have been surprised at how few online marketers that I write for take these considerations into account.

Another important point is that you have to track unique visitors, and not just "hits" - there is usually a big difference.

Another client had a $29 product, and I raised the price to $39 - and the CR% improved (with my rewrite).

So not only did the added CR% help a lot (tripled conversions) - but he was now making much more per sale too. Very, very cool (and very happy client).

Now that we have a control that is pulling very well, we can test many more price points for this particular offer as stand alone variables.

Testing various prices could be a VERY easy way to make a good selling offer much more profitable with very little work.

I have read Mark Joyner and I think it was John Carlton say that there are price points (19, 49, 69, and 99 - or "7" instead of "9" since it seems "7" works better) - in other words, if you have a $29 product - try $49 (or 47) because the CR% will probably not change since $49 is the price point between 19 and 49.

For an untested offer, this is just speculation, but it is a good reference point, and both those guys have a ton of experience in these kinds of tests.

Hope this helps,