Ever wondered why prices online, especially in the internet marketing niche, usually end in 7? $7, $17, $27, $97 . . . all are common sights for online products.
Even Wealthy Affiliate charges $47. Why not $49.95? $49.99?
Prices ending in 7
The price strategists at Kissmetrics insist prices should end in the number 9, quoting studies done by MIT and the University of Chciago. The original studies were done for products at brick and mortar stores. Online it still seems to work for items like women's clothing.
On the other hand, marketers at the WarriorForum insist that experience has shown the number 7 outsells 9 every time. A good point was made by one poster. He feels that buyers for info products and IM programs are used to seeing the number 7, that it has become part of the online buying experience.
If the product price tag ends in a 7, it's perceived as being an IM product that conforms to accepted standards. And it is seen as a good deal.
Online marketers can benefit by fitting in to the customary way of doing things when pricing their products. Seven is lucky for affiliate marketers!
I bartered for a website that doesn't have much on it. The owner didn't have time to work on it. I like the domain name and it's in a niche I like. So I'm exploring the site and the admin area. Plus I have my WA affiliate site to get up.
Today I worked on Lesson 6, plug-ins and SEO. I think I'll be on this lesson for the rest of the week. Learning by doing--lots of hands-on homework with the two websites.