Pricing Your Products: Is The Number 7 More Magical Than Other Numbers?

When it comes to pricing your products, there seems to be a debate in Internet Marketing circles that product prices with the number seven in them are more effective and convert better than other prices.

For example, $7.77, $17.77 or $37.77. Some marketing experts believe you should drop the change altogether and price your products at $7.00 or $37.00 or $67.00.

Personally, I think that whole number seven thing needs to be examined on a case by case basis. I'm not suggesting those marketing experts are wrong. I'm sure they've conducted their own tests, and developed their own conclusions - and that's what works for them.

However, I've conducted my own pricing tests as well. And the items I tested using prices with the number seven in them didn't convert any better than other prices.

So why the discrepancy? Because marketing is not "one size fits all". There are far too many variables involved for anyone to suggest that you will achieve the exact same results as the next person.

Even with everything being equal, results vary. That's just the way it is. That's marketing. In a lot of ways, marketing is like playing golf. There are some days when you just can't figure it out, and it drives you crazy!

That's why you should never take any marketing experts advice at face value (including mine) without questioning it. Better yet, you should always conduct your own tests and develop your own conclusions.

That's what being a professional is all about. Sure, there's more work involved in conducting your own tests, as opposed to relying and depending on the results of others.

But unless you're doing Internet Marketing as a hobby, you should want to be absolutely certain that you're maximizing your marketing efforts. That's the only way to be sure that you're getting the best possible result, and achieving maximum profits.

And isn't that what running a for-profit business is all about - maximizing profits?

Okay then. Don't blindly play follow the leader. That's the easy way out. That's what amateurs do. Professionals do things the right way, and that includes conducting your own tests.

Sure, it involves a little more work on your part. But multi-variate testing software such as Google's Website Optimizer has really simplified the process.

Besides, testing is really the only way to be sure that you're maximizing your marketing efforts. But don't just test pricing. Test all aspect of your marketing...advertising, copy, software, social networking, etc.

To do otherwise is just plain foolish!

NOTE: This article is available in video version on my YouTube channel.