When testing metrics or figures in your business, it does not help if you spend valuable time and effort testing the wrong ones. Test the right ones. You need to test split your price points to ensure you get the maximum revenue per sale.
Testing cart bump addons.
These you make appear in your cart or order form, they mostly complement the main product. They help your customers get the most use or enjoyment out of your main product. Say you’re selling a copywriting course. Maybe you will offer a sales bump such as email swipes or even personal consultation where you do a video style critique of a sales letter.
Now, you will test the types of order bumps you offer. The number of presented order bumps, and the prices of the order bumps.
Testing trial payments.
You can implement this test on recurring payment products such as membership sites, for example. In this test, you can offer a low-cost or trial membership for a month. By doing this, you are taking the risk out of the purchase. Now the customer will be able to see the value your content can provide while paying virtually nothing.
This will create a high conversion rate with low refunds. And! If you offer a free trial period to your higher level memberships, you can increase your average transaction value.
Testing payment plans.
Testing payment plans on high ticket offers is also another way of getting good conversions and higher average transaction values. This method works well to boost transaction values on offers where there are differently priced packages.
Here is a basic example, you are selling an entry level, intermediate level, and advanced level course. The advanced course might be a bit out of reach for some of your prospects. By offering a payment plan on your most expensive product you could convince more people to buy it. Now that they can pay it off, you can charge a bit more for it.
Let’s say the product is $197.00 once-off. For the people who can not afford it once-off, you have a payment plan where it is three $70.00 payments. Now at the end of the payment period, that person has paid $210.00 instead of the original $197.00. That is $13.00 extra per sale. It adds up over time.
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