Dien Rice
August 29, 2016, 10:38 PM
Many years ago, Gordon Alexander wrote the report "Remote Influence"... We both sold it together, as a joint venture...
We found it resulted in a shocking experience!
We started selling the report at $12... With a full money back guarantee.
Of course, we got some people who said it wasn't for them, and wanted the refund (which we gave).
Then, we bumped up the price, I think to around $22 or so. Interestingly, while the volume of sales were lower, the profits were higher... And people asking their money back reduced too!
Finally, Gordon said - why don't we try to sell it at $49?
So we did...
Profits went up again...
But the shocking thing was, at the higher price - virtually nobody wanted their money back!
Why did this happen?
I think, when you have a higher priced product, you also get a different "class" of customer...
Some people are going to ask for a refund, no matter whether they liked the product or not. (They just wanted the product for free in the first place.) However, it seems that as the price goes up, these "freebie-seeking" customers stop buying... (Which is actually good, since they're not profitable customers to have anyway.)
It's a good experience to keep in mind!
Best wishes,
Dien
We found it resulted in a shocking experience!
We started selling the report at $12... With a full money back guarantee.
Of course, we got some people who said it wasn't for them, and wanted the refund (which we gave).
Then, we bumped up the price, I think to around $22 or so. Interestingly, while the volume of sales were lower, the profits were higher... And people asking their money back reduced too!
Finally, Gordon said - why don't we try to sell it at $49?
So we did...
Profits went up again...
But the shocking thing was, at the higher price - virtually nobody wanted their money back!
Why did this happen?
I think, when you have a higher priced product, you also get a different "class" of customer...
Some people are going to ask for a refund, no matter whether they liked the product or not. (They just wanted the product for free in the first place.) However, it seems that as the price goes up, these "freebie-seeking" customers stop buying... (Which is actually good, since they're not profitable customers to have anyway.)
It's a good experience to keep in mind!
Best wishes,
Dien
