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Letting Buyers Pick Their Own Price: Test Results
By Tim Gross - Internet Business Blog | March 26, 2008
Have you ever wondered how much someone would choose to pay for your product if you 
literally let them pick their own price?
Well, awhile back I ran a test to find out, and the results were very interesting.
The downloadable product sold for $39.97, and thousands had purchased it already, but of course a large portion of people who’d opted in for more information had NOT purchased even though they’d been pitched the product multiple times by email.
Basically, the remaining free subscriber list was dead as far as that product was concerned, they wouldn’t respond to further pitches to buy it.
What to do?
Out of curiosity, I worked up an offer to them to let them purchase the product at ANY price they chose, anywhere from $39.97 (the selling price), all the way down to $1.
The results were surprising.
I wrote up a full case study, including a breakdown of price points purchased, the email pitch I wrote, and the order form wording. I hope it gives you some ideas and a roadmap to try squeezing every last dollar out of your list.
Click Here For The full case study (PDF)
-Tim Gross
PS - I was originally going to sell that report, but it’s my birthday today (March 26th), and I like to give away stuff on my birthday to keep my Karma balanced from all the free stuff I’M going to get today. (heh heh)
Topics: Marketing | Trackback URL
March 26th, 2008 at 9:44 pm
I feel it was a great idea by Tim, to propose such a sale where the customers just thought of sale but not product and purchased it. I think such ideas should be exposed where many people can have some innovative ideas.
March 30th, 2008 at 9:24 am
Happy birthday Tim.
And thanks so much for the report!