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FFR051 - Price Testing With A Last-Minute Discount
- Today I’m going to talk about a little trick I learned in Dan Siroker and Pete Koomens book, “A/B Testing” regarding testing price to maximize revenue. They call it the "Last-Minute Discount".
- Split testing price is super important as otherwise you are just guessing what is the ideal price. Obviously a lower price would usually lead to more sales, and a higher price results in more profit. So the trick is in finding the sweet spot that provides the most revenue.
- Sometimes it makes more sense to charge a higher price and get less conversions... because those sales end up producing more overall revenue.
- But you would know that unless you tested it.
- Set up different pages with different pricing but then offer the same “lower price” on the actual order form and make it look like they get a special “today only price”.
- This avoids the possibility of some customers getting angry if they happen to discover your other page with a lower price somehow, which can happen.
- In ClickFunnels you would set up two separate sales pages on separate funnel steps... with different pricing which would then lead to a specific order form, and if they purchase you could then assume it was a conversion for the price shown on the initial sales page.
- To drive traffic you would need to use a landing page rotator to split the traffic.
- linksplit.io is free and does a great job of splitting the traffic to both URL’s.
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By Scott Dudley- Today I’m going to talk about a little trick I learned in Dan Siroker and Pete Koomens book, “A/B Testing” regarding testing price to maximize revenue. They call it the "Last-Minute Discount".
- Split testing price is super important as otherwise you are just guessing what is the ideal price. Obviously a lower price would usually lead to more sales, and a higher price results in more profit. So the trick is in finding the sweet spot that provides the most revenue.
- Sometimes it makes more sense to charge a higher price and get less conversions... because those sales end up producing more overall revenue.
- But you would know that unless you tested it.
- Set up different pages with different pricing but then offer the same “lower price” on the actual order form and make it look like they get a special “today only price”.
- This avoids the possibility of some customers getting angry if they happen to discover your other page with a lower price somehow, which can happen.
- In ClickFunnels you would set up two separate sales pages on separate funnel steps... with different pricing which would then lead to a specific order form, and if they purchase you could then assume it was a conversion for the price shown on the initial sales page.
- To drive traffic you would need to use a landing page rotator to split the traffic.
- linksplit.io is free and does a great job of splitting the traffic to both URL’s.