01-28-2020, 08:37 AM
(01-27-2020, 11:15 AM)Greenduck Wrote:(01-27-2020, 10:32 AM)Shannon Wrote:(01-26-2020, 02:04 PM)Greenduck Wrote: Hi Shannon.
I gave your new pricing strategy some thought:
I’ve run LTU for a year and I can say that the price of usd1500 is fair. But two problems arise when setting the price to that
1) it’s almost impossible to communicate the value of a product fully, especially when it’s something so personal as related to your emotional health, and life.
2) subliminals isn’t a common thing to use so people may be a bit sceptic to it
Let’s say that the marketing factor diminish the value by 30% and the unconventional method of using subliminals diminish the value by 30%. Then you have 1500*0,4=600 left. I think that’s a better price to sell LTU for, for at least some more time until you have gotten clinical trials going. LTU is helluva product and by setting the price as high as you have you loose out on getting first time customers using the pinnacle of your products, which is what you need to do to create people who advocate not only your business but your type of product that is largely unknown to most people.
Using your logic, we can pull any number out of a hat and use it in place of your 30%. You start with an admission that the current price is fair, and then go on to make arguments to lower the price, which are all already negated by your initial statement that the price is fair. The arguments you make for lowering the price are based on conjecture, and use what are effectively random numbers. We could easily adjust those numbers up or down to arrive at whatever number we want to. Interesting that you arrived at the original introductory price of $600 US.
I see your argument and understand it, but your reasoning is suspect, as is your result.
Now that said, the next time I release this program the price will be different because since releasing that program, I have become aware of some variables that were not available to me to consider, which may force me to use a price that is other than optimal. We shall see how that plays out when the time comes.
Yes I used an arbitrary logic in specific sum you should arrive at, that wasn't the point I was trying to make. My point is that:
a) you have an awesome product that can help people
b) I've talked to people about the product that I know would have benefit of it, but few have shown further interest
So you have people that would have use of your product, but can't understand it's value to them. It's not like you are selling a Tesla which someone can write a review about and people can digest that based on other experiences they have with cars, they have a framework to conduct their discussions around the product on. There is almost no framework for discussing subliminals, maybe in the absolute inner circle of users such as on this forum, but that is a very small portion of "people".
I don't know if you heard about the Diffusion of innovations (https://en.wikipedia.org/wiki/Diffusion_of_innovations) but I think that your type of product and us buying your products can be plotter fairly accurate on that chart. We are what is called "innovators" - i.e. people ready to be in the first line to test innovative stuff - the same type of guys that stood in line for the new iPhone for 3 days. Guys that most other people see as "lunatics". What I'm trying to convey to you is that you need to help take your customer base from being innovators (which is about 2.5 % of the overall population) and reach the "early adopters" (13.5% of the population) - and the best way you can do that is to put out high quality products on a price point that isn't necessary calculated for "optimum value", but at a price point where this group would be willing to try it out.
Finding the optimal price point is a later question to do. Thanks to AP you can even raise prices even when you have tons of customers that bought on a lower price (because your products have that high incremental value). So pricing the LTU, which I believe is the product that have the highest possibility of reaching the early adoptors to high isn't a viable long term strategy to reach over the "tipping point" (https://en.wikipedia.org/wiki/Tipping_point_(sociology)) as malcolm gladwell describes it, neither a necessary one for your monetary success in the long term. Just my five cents.
I want to chime in into this discussion about the price and fair value as well as more customers.
I myself got started with a free subliminal that proved to me that it is working. Then I went for AM5. It was a huge step, from nothing to around 300 to pay for. But at the same time if I go to a seminar that is most of the time more expensive and I can't refund and I can't repeat the seminar for free. If I get some coaching it might also be fast to use 300 dollars for solving a problem.
If the LTU does what it says it is a big step and well worth the money. If it does not help you in any way, it is worthless no matter how low the price is. So in my opinion it will be always nice to have some kind of different pricing options and generations in the shop, for newbies who just tried out a free one it will be hard to justify 1600 dollars out of the blue. Some have the money and some have to save for a long time until they can use it. If you use it for 16 months it is like 100 dollars each month or around one coaching hour. If you use it 8 months it is like 200 dollars or two coaching hours a month. The question is always what is your problem, what is your goal you want to reach and then choose wisely.
And for the wider group of people that Shannon call sell to, I don't agree. I'm very very certain that Shannon is and will always stay in a niche. The niche might get bigger, but it won't reach the majority easily. Yes, subliminals seem like a quick fix, you buy it and the problem will solve itself. The only problem is you have a certain time commitment and here is where most of the people fail. I have talked to some people about subliminals, most are like a little bit scared because "it messes with your mind". Either people find out by themselves about subliminals, the shop and forum or it is not necessary to lead them here. An affiliate program will only harm the shop because it's no longer the right audience that is lead here. I would sometimes buy a subliminal for a friend if he or she uses it for their problem but most of the time, because it is not their decision and their why is not big enough to follow through, they would use it a few days and then it is too complicated to use and they stop.
But what I would like to see in the shop is a certain "people who used this program had the following benefits after usage of 3-6 months:" and then a list. At the moment it is just a list of goals what the program tries to achieve but not a list of the goals that were achieved. I know it's not easy to get field data and feedback from customers to make such a list. But maybe also for people here on the forum, if they use a program for long enough and they write a detailed review they get a $10 voucher for the shop or something like that. I know that might also mislead people that try to take advantage of that but if they bought a program and they can verify it, then you can allow it to them. Maybe only reviews for the latest generation or 5.5 and up. I don't know. I think there are a lot of intelligent supportive forum users that want you to succeed, Shannon, maybe we can help coming up with ideas and you can choose what you like or just ignore it.
