FFR051 - Price Testing With A Last-Minute Discount
Today I’m going to talk about a little trick I learned in Dan Siroker and Pete Koomens book, “A/B Testing” regarding testing price to maximize revenue. They call it the "Last-Minute Discount". Split testing price is super important as...
Today I’m going to talk about a little trick I learned in Dan Siroker and Pete Koomens book, “A/B Testing” regarding testing price to maximize revenue. They call it the "Last-Minute Discount".
Split testing price is super important as otherwise you are just guessing what is the ideal price. Obviously a lower price would usually lead to more sales, and a higher price results in more profit. So the trick is in finding the sweet spot that provides the most revenue.
Sometimes it makes more sense to charge a higher price and get less conversions... because those sales end up producing more overall revenue.
But you would know that unless you tested it.
Set up different pages with different pricing but then offer the same “lower price” on the actual order form and make it look like they get a special “today only price”.
This avoids the possibility of some customers getting angry if they happen to discover your other page with a lower price somehow, which can happen.
In ClickFunnels you would set up two separate sales pages on separate funnel steps... with different pricing which would then lead to a specific order form, and if they purchase you could then assume it was a conversion for the price shown on the initial sales page.
To drive traffic you would need to use a landing page rotator to split the traffic.
linksplit.io is free and does a great job of splitting the traffic to both URL’s.