Price Testing

Rich Byrd

Price Testing

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You can’t survey for price points. I mean you can’t ask potential buyers how much they would pay for a product or service.
Why would they be honest in their answer? and even if they try, how would they know how much they would pay for something until actually faced with the situation?
So there are really only two things you can do to establish pricing:
1. You can survey to find out what your competitors are charging.
2. You can run A/B tests to see which of two prices (or discount offers) works better.
The best way to do #2 is with click ads. You can run two ads with different offers and see which gets a higher click-through-rate.
That is a fast and reliable way to test.

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