In this episode of The Amazing Seller podcast I share how this one pricing test increased sales by 50% and can be used on any listing. I always say how you should be testing various things in your business and see what works.

Here's the numbers from the test and my notes for the show.

Test #1

1.Sales were stuck at 40 to 50 per day and competition was creeping in.

2.Decided to lower by $4 to $15.97

3.First day 88 sales - $503 Profit - $57 More Profit

4.50 sales at $19.97 = $446

Benefits - More Sales = More Reviews = Higher Conversions = More Sales

Tested changing back to $19.97 only  - 37 sales day 1 and then back to 45 sales

New Price -  $15,090 Monthly Profit

Old Price -  $13,380 Monthly Profit

Additional $1,710 per month profit

Test #2

Lowered the price by $2 to $17.97

Results:

64 Sales = $490 Profit

Increased sales by 24 units

Before price change - 50 Sales = $446

$44 More Profit and More chance for Reviews

$1,320 per month additional profit

New Price - $14,700 Monthly Profit

Old Price - $13,380 Monthly Profit

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Big Takeaway

Test pricing even after you've been selling for a while.

New products - price them to sell, but also test higher prices and see if that helps or hurts sales.

NOTE: Test for at least 3 days and then evaluate.

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Links Discussed:

How To Increase Your Conversions - 5 Tips

TAS Private Facebook Group

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