Would not it be fantastic if there was some method to understand precisely what to rate for your items, so you could make the most cash? After all, if you rate low you’ll make more sales. Rate high and you’ll make less sales, however each sale will deserve more.
You might take a look at your competitors for ideas. That’s how most online marketers do it. You might ask your consumers. You might ask your peers. You could even draw random numbers out of a hat …
Do you see where I’m choosing this?
NONE of those responses is the best one.
The only method to understand for a TRUTH which rate point will make you the most cash is to TEST. Yet extremely couple of online marketers do this. And when you check a cost, keep in mind to think about the variety of refunds, too.
Here’s a sample of how you can do it.
If what you have is a subscription website, keep an eye on the length of time members remain at each rate point. You check 2 various rate points on your subscription website.
$47 a month and $17 a month.
- At $47 each month, you get 2% of potential customers to register, and typically they remain for 2 months.
- At $17 each month, you get 4% of potential customers to register, and typically they remain for 6 months.
Out of hundred potential customers, the very first month you’ll make $94 at $47 each, or $68 at $17 each. So it appears like $47 is the winner. However when you take into consideration the length of time each member remains, it’s a totally various story – $188 versus $408
Constantly, constantly, constantly check your costs. You may be surprised to find you have actually been leaving a heck of a great deal of cash on the table.