Living by Doing

I'm a single founder working on improving my business and myself.

17. February 2014 22:34
by Anders Thue Pedersen
0 Comments

How a one-character change boosted conversion 73%

17. February 2014 22:34 by Anders Thue Pedersen | 0 Comments

I read this interesting article about the psychology of pricing and thought that I would test a minor change – removing the $ sign from the prices.

Sometimes you just have to do the test, not because you believe it will work, but just because it might.

I honestly do not even know why I ran this test; I cannot remember why I thought this test would be something I should test.

Nevertheless, testing it, I did, and the result was shocking and unbelievable, but numbers do not lie – and the numbers are that it boosted the conversion by 73%.

This is after 2776 visitors and three days, so it might be less after a week or two, but due to the other changes I have made in the last week I had to stop the test and just change the website to not use the $ sign anymore.

As Andy from successfulsoftware.net told me at the MicroConf in Prague, this will probably drop in the weeks to come, it usually does, and so will this – but even if it’s a .1 or .2 point lift in conversion I’ll be happy because that will convert to around 10000$ more revenue a year!

As I wrote some weeks ago, I have also been asking many customers about why they bought TSR Watermark Image so I could write better copy text.

Then the other day I noticed that the copy text shown in google, (Title and meta description) sucked and believed that I could do better.

This also seems to be true; my clickthrough rate from google has jumped around 20%, although it is too early to tell if it will keep on, I think it will.

The last change I did was that I completed the higher price points, I now have three products priced at 29, 69, 139 and this will raise my average order value and lower the apparent price of the smallest version since the user will compare it to a 139$ version.

Two days in, no one has bought the higher priced version, but as you can see from the numbers things are beginning to move up again.

10 ways to boost your conversion rate

  1. Split test $ sign
  2. Have a higher price point
  3. Have an really easy way to download the software and add a buy now button that links to the checkout procedure (this gets me a double in conversion from the average conversion rate)
  4. Improve your copy to mirror what the customers are thinking when they get to your site
  5. Improve your product
  6. Simplify what happens after the user clicks buy
  7. Add Trust builders, reviews and user feedback
  8. Add 90 days money back guarantee
  9. De-clutter your website, remove everything but download and buy now
  10. Split test everything (ok, I ran out of ideas)

Status

Last week

Look above

This week

I’m looking for how to improve the value of the higher price points, especially I am looking into adding the ability to upload to wordpress, shopify or another well know product out there, do you know any?

 

 

Week Orders Revenue Visits Conversion
40 147% 181% 109% 135%
41 212% 275% 111% 190%
42 141% 185% 105% 135%
43 206% 254% 113% 182%
44 171% 215% 107% 159%
45 229% 285% 104% 220%
46 247% 313% 109% 226%
47 300% 395% 106% 283%
48 312% 413% 96% 323%
49 300% 423% 96% 312%
50 271% 349% 93% 291%
51 218% 303% 85% 256%
52 171% 209% 75% 228%
1 259% 315% 86% 301%
2 282% 382% 98% 288%
3 247% 333% 93% 266%
4 241% 288% 96% 251%
5 218% 273% 91% 239%
6 247% 311% 91% 271%
7 276% 369% 87% 319%
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