Price Test And Earn More For Doing Less
Oct 12th, 2009 by jayrob
It stands to reason that if you can sell fewer products/services but make more money…
You can be content that you’ve found the right price.
No matter what your product or service online if you really want to maximise your profit and your efficiency, you’d be mad not to test at least two prices against each other.
But do remember to keep your tests reasonable.
If your price tests are too far apart, your results will either be pointless…
“Hey, people seem to be happy to pay £5 for this glove but no one will spend £500 – how come?”
Or they’ll take forever.
If your product or service is below £60, I’d recommend testing in £10 increments.
Between £70 and £200, I’d try £20-£30 increments. Otherwise, your price testing will take forever.
Beyond the £200 mark, move up to £50 increments.
And when you start getting to the £300/£400 mark and beyond; naturally it makes sense to increase the increments by larger amounts.
Hey, I admit, doing a bit of price testing might seem like extra work – something that stands between you and the profit.
But as I’ve shown you here, in the long run a little bit of price testing will enable you to make more money for doing less.
Best wishes,
Jason Robinson
