MARKETING Is my product too expensive?

[mell0w]

Hello forum,

i run a website where i sell products to twitch & youtube livestreamers. For anyone interested, i sell gameshow overlays which you can include as a browsersource into your streaming software for example OBS or streamlabs. With these overlays you can host your own gameshows/quizshows in your stream.

I currently sell these for 50€ each. With this price i made most of my sales. However i noticed when i launched a 30-80% sale to test out the prices, i made a few more sales. But i can not 100% confirm this because my website makes about 500 visitors a month and i only make a handfull of sales.

So before i spend a lot of money on ads & influencers promoting my product, i want to make sure that i have the right price. In my industry there is no such product so i can't really compare prices, but i would say that my prices are not cheap, but also not expensive.

I see people visiting my website via tracking software and scrolling arround clearly looking interessted in my product, but then they just leave. Some of them are even signing up for my newsletter. So i think the need or interest is there but maybe it's the price that is too expensive.

Pricing models of my products:
50€ one time payment to get a single gameshow.
4.99€ a month to access all gameshows (and some more small features) as long as your subscription lasts (i currently have 4 gameshows)
150€ single payment to get all 4 gameshows (You buy 3 and get 1 for free)

I also have a free demo version for every product

So the question is, should i lower my price before i go big with marketing and ads?
Best solution i came up to is maybe make a 30% sale while the marketing campain is running or give the influencers that are promoting my products a big discount code for the customers. If you have other ideas please let me know that would be very helpfull.

Thank you and have a great day!

 

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[Lex DeVille]

Hello forum,

i run a website where i sell products to twitch & youtube livestreamers. For anyone interested, i sell gameshow overlays which you can include as a browsersource into your streaming software for example OBS or streamlabs. With these overlays you can host your own gameshows/quizshows in your stream.

I currently sell these for 50€ each. With this price i made most of my sales. However i noticed when i launched a 30-80% sale to test out the prices, i made a few more sales. But i can not 100% confirm this because my website makes about 500 visitors a month and i only make a handfull of sales.

So before i spend a lot of money on ads & influencers promoting my product, i want to make sure that i have the right price. In my industry there is no such product so i can't really compare prices, but i would say that my prices are not cheap, but also not expensive.

I see people visiting my website via tracking software and scrolling arround clearly looking interessted in my product, but then they just leave. Some of them are even signing up for my newsletter. So i think the need or interest is there but maybe it's the price that is too expensive.

Pricing models of my products:
50€ one time payment to get a single gameshow.
4.99€ a month to access all gameshows (and some more small features) as long as your subscription lasts (i currently have 4 gameshows)
150€ single payment to get all 4 gameshows (You buy 3 and get 1 for free)

I also have a free demo version for every product

So the question is, should i lower my price before i go big with marketing and ads?
Best solution i came up to is maybe make a 30% sale while the marketing campain is running or give the influencers that are promoting my products a big discount code for the customers. If you have other ideas please let me know that would be very helpfull.

Thank you and have a great day!

A/B test price points. You will probably need more traffic to your website to have enough data. How will you get those people there if you aren't running ads and don't want to invest in influencers yet? To me, this is one of those instances where you might need to invest in your business to reveal the truth.

You're already making sales, so you have proof people want this. There's no reason not to run ads to your target audience. That doesn't need to be a huge expense. Plenty of threads around here on how to get started with ads without spending a lot out of pocket.

See @Andy Black's threads for Google Ads.