|Is there a need to think about the purchase when the price is $2?|
I'm assuming that as sewing enthusiasts in today's world, you are familiar with PDF patterns and have purchased at least one. With that in mind, your opinion would helpful for a marketing experiment that I am planning for early September.
It's a two-pronged test, meant to evaluate how much people actually read before purchasing and whether or not a $2 price point prompts any "should I or shouldn't I" consideration, especially when it's perceived to be a deep discount.
In May 2016, I experimented with a Pay What You Want price on the initial release of my Bundled Up Bindle Bag. Almost three months later, I had "sold" about three hundred copies but had collected nary a cent. A $2 price tag was thereafter attached to the pattern. It has triggered subsequent sales, albeit nowhere near three hundred. ;-)
In my Makerist shop, the PDF is currently selling for $3. Because Makerist takes a commission, I decided to bump up my pricing when I listed my patterns there. And because Makerist also runs "$2 sales" about four times a year, I use them as opportunities to reduce a couple of my prices back down to $2. Following so far?
I'm convinced that there are folks who know about Makerist but who never browse the individual shops during "non sale" times. Based on this belief, I've decided to take a couple of my free PDFs, slap a $4 price on them, and then drop them to $2 for the purposes of the next sale. I'm curious if anyone will make a purchase, based on the perceived 50% savings.
Oh, and the part about evaluating whether or not people actually read? I fully intend for the descriptions of those PDFs to advise that their contents are available for free from my blog.
With that established, let me ask you a few questions.
It's Just a Couple of Bucks!
Back when all dollar stores were exactly that, it was never much of a decision for me over whether or not to buy something that caught my eye, because it's "only a dollar".
With PDF patterns often running upwards over $10 USD, is it a similar situation when faced with a $2 price point? That is, if a pattern appeals to you, would you hesitate to buy it, if it's only $2?
It's a Sale!
Okay, so let's say you're the disciplined type who successfully resists a cheap price.
But can you resist a sale? I've said before that I don't like to participate in pattern sales from the designer point of view, but I do realize that from the buyer's side, sales are the ultimate way to spur purchases.
Whether or not you normally jump at a $2 price point, will a PDF of interest that's been marked down to $2 during a sale cause you to buy?
As a sidebar to this discussion, are you the sort to wait for a sale to buy most of your patterns?
It's 50% Off!
So here is the supposedly foolproof technique to trigger a purchase: put up a sale price, but ensure that the customer knows what the percentage savings are. The higher the percentage, the more likely the customer will bite, sometimes without much further consideration or thought... or reading.
If you see a pattern marked down to $2 and notice also that it represents a savings of 75% — i.e., it's normally an $8 pattern — are you more likely to buy even if it isn't something you were looking for?
I'm really curious as to what your thoughts might be, so I'm crossing my fingers that you'll be similarly intrigued to provide some answers. If you're contemplating leaving a comment, please know that I am happy to receive any input, no matter how short or long it may be. Alternatively, if you have a lengthy discourse that you'd rather not submit as a comment, use the contact form on the sidebar to get in touch with me directly.
If you're shy, be anonymous; I don't mind!
As a heads up for those who may be curious as to which PDFs I am going to be targeting in this experiment, they are the Quilted Hanging File Organizer and the Portable Pocket Pouch.
Fully aware that this experiment is already somewhat sneaky; I didn't want to introduce new patterns into the shop to lure unsuspecting customers. If people have already claimed those PDFs over the past eight months while they were free, at least they won't be tempted to buy them again.
Just to be clear, it is my intention to make those PDFs free again after my little marketing study is complete. If any substantial data arises from this experiment — or if I get so much input from you that it comprises a whole blog post — I will certainly be back to share it next month.
Before I sign off, let me ask one last question. I recently saw a tutorial that was presented in its entirety in a blog post, but the blogger indicated that a PDF version of the same content was available for $1. The apparent reason for why one might part with actual money for something that was free was that the PDF would not include all of the intrusive ads and large images. Would that be sufficient enticement for you or would you put up with the distractions?