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Copywriting, Internet Advertising And Business Success Blog By Copywriter, Stephen Dean

We’re Moving To CopywritingDean.com

Posted By Stephen Dean on March 8th, 2009

I’m changing my domain name for this blog. You can find new posts here: http://www.copywritingdean.com

I decided Stephensblog.com wasn’t the best domain for my business. My name (Stephen) is kind of hard to spell. Many people spell it wrong. And it’s spelled differently than it sounds.

Ideally I’d move to StephenDean.com, but that domain is not available and likely not for sale. Apparently there’s a French artist with the same name as me who got it first. (I have emailed about it, but never got a response.)

So what to do…

CopywritingDean.com makes a lot of sense to me.

* It does have my last name in it “Dean.”
* It contains the keyword I’m targeting most.
* It kind of has a double meaning. Copywriting Dean, or Dean of Copywriting. You know?!
* And it better explains my site.

This site currently gets a lot of search engine traffic, and I don’t want to leave it all behind. So I’m going to keep it up for a while and see what I can do with the traffic.

Hopefully I’ll be able to build up links to http://www.copywritingdean.com quickly. If you already have me in your blogroll, I’d really appreciate it if you changed the URL to copywritingdean.com.

If you don’t have me in your blogroll, I’d really appreciate it if you added me :)

Again, thanks for reading everyone.

 

Price Testing

Posted By Stephen Dean on November 19th, 2008

$97, $95, $100. Three different prices that aren’t too far apart in dollar amount, but can have a large effect on the dollar amount in your bank account.

The truth is, the actual price of your product is a major testing factor. Those 3 different prices above may swing the number of sales you get by a surprising percentage rate. I’m not going to get in to specifics because the data coming in to me now is from a client. But here are some things to think about when testing price.

1. Don’t just test lower prices. Most of my clients want to test lower prices when I suggest a price test. It’s good to test lower prices, but stop doubting your product. It’s possible that more people may want to buy your product if you give it a HIGHER price. A price says something about your product to the customer. If you price it too low, they may suspect it’s low quality and pass on it. Raising the price may convince MORE people to buy.

2. Test the “dollar” digits first. Some people like to test $99.97 versus $99.95. Instead, I’d test $97 versus $95. Michel Fortin backed this up when he told me numbers on the dollar side of the decimal point provide the most answers and profit increases.

3. Don’t just stick with “7″. Glyphius, a software that analyzes profitable copy, HATES the number “7.” I don’t have stats to back that up, but I do have promising results with numbers other than 7. So don’t just test $57, $67, $97. Mix it up and test $57 versus $55, $59 and more. If you believe “7″ has a psychological impact, you must believe other numbers have an impact as well. Find out for yourself what digits are best.

4. Pay attention to visitor value over conversion rate. On one test I’m conducting one price is solidly beating a price $30 higher. The problem is, the 20% higher conversion doesn’t beat out the 33% higher profit from each sale. So consider getting less sales at a higher profit. Unless…

5. Unless, you have backend products that are selling. If you can get more customers at a lower price and have backend products to sell them, you have to factor that in to the above equation. Can the backend sales make up for that initial loss in profit?

If you’re not currently testing, I recommend http://www.muvar2007.com.

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Posted in Business Tips, Copywriting Tips, Internet Advertising Tips, Multivariate Testing

One Response to “Price Testing”

Tony Finbarr-Smith (8 comments.)
November 20th, 2008 at 5:06 am

I totally agree, just because everyone in the IM marketplace used 7s, it isn’t necessarily right for your niche.

The first time I saw a 7 at teh end of a price, then the ‘was’ price (before reduction) then the xxxx people joined/bought whatever number ended with a 7, it raised suspicion in me.

to be honest, I’ve only once seen a 7 used in the ‘real’ world - a car ad - which has now changed back to a 5 at the end.

the supermarkets, national car manufacturers all have more money than most of us to test prices, and they all stick to ending with 9s and 5s.

I 100% agree that testing is the way ahead.