So, have you ever dropped your prices big time and sold way more product than you thought you could?

It's kinda making me sick in my stomach to do this but I'm seriously thinking of cutting my prices in half just to see what happens...

Anybody else seen anybody do this or done this themselves? What happened?

Ricky,
Could you be a bit more specific?

Are you planning on cutting prices permanently or just as a "promotion"?

Reason I'm asking is because I have done price reductions in the past with excellent results, but only to regain my profits on the backend.

Could you tell us more of your product or type of service?

If you're trying to keep "tight-lipped" for privacy reasons, feel free to contact me via PM and I might be able to help you.

*nods* It's fine to cut prices (so long as you don't cheapen your product) but be sure to build in an up-sell on the back side.

Bailey

After you test your headline, lead, offer, etc., you do test your prices to find out your profit "sweet spot," right?

If not, you may make more money RAISING your prices. You'll never know until you test it.

Also, you need to map out profits across the board. I mean, if you lower your price on a front end low ticket item, you may lose more money up front but sell more of your back end high ticket item. But unless you track this stuff, you'll never see the connection.

John

Did you say "prices" or "Knickers"?

1. Gain entry with low prices
2. Gain trust and loyalty
3. Add offerings and raise prices
4. Differentiate from new no-frills entrants

I'd suggest doubling your price before reducing it.

Ya never know unless you try.

Are you talking about a one-time-sale or a permanent reduction of prices?

If its a one time sale, then yes you'll sell more products. (Birthday sale or Xmas sale or some other short time sale will usually increase your sales.)

If its a permanent decrease of prices, then initially you'll see an increase in sale (because people who've added your product to their wish lists will buy up). And then it'll flaten out.

If its an info product that you are selling, try adding a couple of bonuses without reducing the price. Build up the value instead of reducing the price.

Also, before reducing the price, try implementing a "pay-in-installments" scheme.

Price is the last thing I touch in the entire offer when things aren't going as expected.

Are you talking about a product or service? Is it as big as a bread box? Be specific.

If you're a copywriter, hell no! If you're good, raise the price till it meets god.

Susanna

I'm talking about a physical product.