Online or offline, there is a secret to getting your pricing right.

Most people never understand this, and they never maximise their profits because of their lack of understanding.

Offline the secret is to do price discovery this way.

You do this by putting a price on your goods that’s just a bit too high.

Then you advertise in different places with coupons giving either a discount or a price point.

Each place has a different coupon.

Run that for a week, tally the sales and coupons used, then rerun the same coupons in a different place.

Tally those sales up, and you’ll soon see a pattern that tells you the best places to advertise and the right price point for your product.

Online you can do this as well, and it works faster and better.

The secret is that you have no idea what the right price is, so you must test and track your tests.

Understand that the right price is not what it costs plus a markup.

The right price is the one that maximises your profits and is a balance between price and volume of sales.

But you’ll never discover that if you don’t test.

To test, you must be able to follow the visitors through the funnel from the traffic source to the thank you page.

Most people split-test their landing pages and sometimes their sales pages but rarely split-test their traffic sources.

Some tools will allow you to track a visitor from source to sale, which is what you want.

The best one that I know of and the one that I use the most is ClickMagick, https://link.wm-tips.com/click.

Check out their training modules because they are the best around.

Regards,
Brent.

P.S.  If that’s outside your budget, you might like to look at a couple of free ones that work reasonably well.

ClickerVolt is pretty good, and you can track through funnels with this to an extent. https://link.wm-tips.com/clickervolt.

The other one that’s also pretty good is SendSteed, https://go.wm-tips.com/llauto.

SendSteed’s claim to fame is that you can identify how many of your visitors clicked away fast and how many stayed to read your content.

Based on this alone, you can improve your engagement.