Why Did This Split Test Fail? Price Point or World Events?
This may not seem like a “copywriting” issue at first, but you will quickly see that it could be. Either way, it’s something I think you should know about. Elements like this, can easily improve conversion rates for copy you write. Your copywriting clients may send you a nice bonus cheque in appreciation…
Over the period covering the end of September and the beginning of November I executed a split-test on copy I wrote (over a year ago) for one of my alternative health clients.
Up until this most recent split-test the online copy routinely produced an average of $2.25 in sales for every $1 spent on generating traffic.
Not bad, for a front end product, eh?
The copy promotes the ebook (plus other digital bonuses) for $37 and upsells to the audio version for an extra $10.
I decided to test changing the price points from $47/$37 to $37/$27. Maybe it would produce even more sales and a higher conversion.
The result: Sales dropped by 60%!
Could a $10 difference make such a difference?
Possibly. Maybe the higher perceived value resulting from the $37/$47 tipped enough extra people into buying.
Another possible cause: I ran this test at the same time that the U.S. government declared financial collapse and deliberated over their $750 billion bail out package.
Possibly the price change had nothing to do with the decrease in sales. Instead, the split-test may have been a victim of bad timing. Consumers who visited the site were in “don’t spend-a-dime” mode.
My client, however, didn’t want to continue the split-test any longer. He already LOST money for the first time since we launched the copy last December. The cost of traffic outweighed the return on sales by a little.
(Personally, I didn’t care. I didn’t see the point, in the first place, of making money on the front end.)
Either way — price point or recession — editing the copy could help either issue.
Here’s what I mean….
If the price point caused the problem: Then I need to edit the copy to JUSTIFY the lower price. It may be out of place simply dropping $10 when I wrote the copy strategically for a higher price point.
I’m sure we’ve all had an experience where a sales person or copy positioned a product so well — and then shocked us with too low a price point. In such cases, we wonder, “If this is so great, WHY not charge more for it?” It suddenly lost its value.
A REASON for the lower price point needs to be given. A truthful reason. Even something like, “We know this is your first time purchasing from us and we want to make it as risk-free and easy a decision as possible.”
Now, if concerns over a financial crisis caused the lower-conversion rate, the copy likewise needs to address these new objections in prospects’ minds (about spending/saving money).
I’ll continue on that point in a future e-column…
In the meantime, I want to make sure you received the notices we sent earlier this week regarding the upcoming 2nd Craft Your Own Untouchable Copywriter’s USP live coaching teleconference.
PLEASE NOTE: We had to change the date to Thursday, November 20, 2008 at 8pm EST.
It’s free! It will help you position yourself as a unique and in-demand copywriter. You can read more about it and register by clicking this link…
http://www.realitycopywriting.com/usp
P.S. So, what do you think caused my split-test failure? Price point, financial slump or something else? Please leave your thoughts in the comment box below…
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One Response to “Why Did This Split Test Fail? Price Point or World Events?”
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November 17th, 2008 at 3:02 pm
The US presidential election of course. Now that it’s over, you can run it as the “New US Government Subsidized (paid for by tax dollars)Shocking Health Information”.
On a serious note, I think it had more to do with the lack of explaining the reason for the cheaper price.