Is Your Pricing Costing You Money?

Are you losing money with every sale you make?

You might be, if your product is not priced correctly.

One of the things I've learned is that a lower price is not necessarily a better price. In fact, sometimes the higher price also gives you more customers. And far more profit.

For example, I have a product called CBmall. There are two versions of CBmall: Gold and Silver. The Gold CBmall sells for $97. The Silver CBmall sells for $47. You can see the differences here:

http://www.CBmall.com/join.asp

Frankly, the differences are minor.

Now if I just asked you to guess, I bet you would tell me that I would sell at least twice as many Silvers as Golds...

...and amazingly, you would be wrong.

In fact, almost 75% of CBmall sales are for the higher priced Gold version.

The key point here is that you do not know until you test. I certainly never thought I would sell so many more Golds then Silvers. But it is happening every day and the numbers don't lie.

Perhaps you could test some new pricing on your own products and find yourself a gold mine of new profits.

And if you don't have your own product yet, remember that pricing is one of the first things you need to test.