Pricing a product..

[nitroweb]

I would go with Ted Nicholas's Advice on this..

let your market decide the price.

In my case i would set up 3 price combination in Google optimizer and see where i get maximum conversions.I would also keep a watch on refund rate with the associated price.

As an example in of my niche products there was no difference at $27 or $37 price point but at $47 conversions dropped and refund rate increased.

The market told me that beyond $37 i was stretching them - the product did not have the perception to exceed that price.

[Mike Nguyen]

Don't be afraid to charge your product a little expensive, like if it's a software, should fall in a range of $67 - $97. Don't under charge because that's going to hurt your budget and actually make people suspicious in your product

[Justin Williamson]

Don't be afraid to charge your product a little expensive, like if it's a software, should fall in a range of $67 - $97. Don't under charge because that's going to hurt your budget and actually make people suspicious in your product

I agree completely. While I may not have a lot of experience with product launches, I can say that if I look at a product, I often try to determine it's value based on it's price. If someone is selling an amazing article submitter for instance, I'd be more likely to buy it if it was $77 then $7. People don't want to waste their time with anything they consider to be of low value.

[Austin Hilton]

A few other things to consider are this....

I would agree that ending in the number 7 seems to work the best.

I wanted to add this - if you are going to have a monthly recurring membership site then it is best to stay below 100. I only say this because if the "pain in the butt" factor.

Interestingly, I have had membership sites in the past that charge $17 for the content. And, I have people that have not accessed the site in years.

I have sites that charge $47 and have people that are still involved and will never cancel their memberships.

It seems that if you stay below the 50 price range for most membership sites then more people will stay with you longer.

Now, with this said - I am about to release $97 monthly membership site on driving traffic. So, I am going against my own advice (go figure). Haha.

Austin