It's not logical, but from reading a lot of marketing stuff over the
last 40 years, I think I can tell you what the problem is...
Most people kind of round stuff off in their minds... and normally to a
multiple of $5..... SO.. $8.99 rounds to $10... while $7.99 rounds to
$5, so physiologically speaking you have doubled your price. ;).
Just a rough stab at telling you why is that most people ignore the .99
part of a price (unless it is very close to a multiple of $5, so $9.99
is $10, $4.99 is $5 etc.)... so $8.99 becomes $8 and rounds to $10,
while $7.99 becomes $7 and rounds to $5.
Can't guarantee it... and the only way you will know for sure is to
change the price back to $7.99 and see if sales come back to normal. I
can tell you that price points are incredibly important in marketing,
and even more important in the low range of prices.
Hopefully, it's a market glitch... but if it doesn't solve itself... try
putting the price back.
Sincerely,
Brad Gies
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http://bgies.com http://nocrappyapps.com
http://bistroblurb.com http://forcethetruth.com
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Everything in moderation, including abstinence (paraphrased)
Every person is born with a brain... Those who use it well are the successful
happy ones - Brad Gies
Adversity can make or break you... It's your choice... Choose wisely - Brad Gies
Never doubt that a small group of thoughtful, committed people can
change the world. Indeed. It is the only thing that ever has - Margaret Mead
On 17/12/2010 6:34 PM, Zsolt Vasvari wrote:
My sales have started to decline about 10 days ago and now they are at
about 50% compared to then.
Has anybody seen anything like this with their own apps? I am at a
loss as I cannot see a reason for this -- my ratings are as high as
ever, no 1-stars to scare people off, no "hot" competitor app. I did
increase the price by $1 about 14 days ago, but that actually lead to
more sales for a few days after, so I don't know. The $1 increase is
from $7.99 to $8.99, so percentage-wise it's not that much.
As I am typing, I'm going on a 5 hour without a sale lull, with only a
couple of "Declined authorizations." I've evem seen an 11-hour lull
also which has never happened since day one.
I mean it's possible that my app has run its course and most people
who wanted it had bought it or a competitor's, but that's pretty hard
to believe.
Anybody with any insights?
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