Abandoned and Renewed Project: 1 Month
Quite a few months ago I had an idea that I thought was great. Offer products at really cheap prices, starting at $1 on day 1 of the month and $21 on the 21st, $30 on the 30th and so on. After the month is up, the offer is over. I've never seen anything quite like that. Have you?
I actually got a site up at 1 Month Incremental Pricing, but other things got in the way and I never got around to making the site live. For 1 thing, I could not find any Internet Marketers willing to give me a product for 1 month - mainly because products that cost more than $30 are generally "premium" products and vendors don't want those products to go cheaply.
So…that project was kind of abandoned. My bad. I should have made a product myself and sold it on there…
So, what I am going to do is restart this project with a launch date of April 1st (yes I know I'm a fool ;)). I'm not sure what product I'll be able to find to offer as yet.
My other option would be to find products that are less than $30, and simply offer those. As an example, take a $10 product. On the 1st it'll be $1, 2nd $2 and so on up to day 10 where it becomes it's full price of $10. Each day after this it sticks at $10 until the next month when a new offer takes its place. Would that work?
Please let me know your thoughts on the whole project. Is it a go-er or is it worthless? Am I just being foolish?
If you haven't already done so, please add yourself to the announcement list which will ONLY be used to send you 1 email at the end of each month to let you know the next months offer - thereby giving you notice to purchase on day 1 at the very lowest price possible.
I suppose the proof of this site is in the doing - if I don't get it up and running I'll never know if the idea will work.
Comment by Adam Dempsey — March 16, 2008 @ 12:52 pm
I always thought it was a good idea! Looking forward to seeing it again!
Comment by Chance — March 17, 2008 @ 2:23 am
Are you firm on the $1 on the first day, $2 on the second, etc, part? Why not make it 30% off on the first day, 29% on the next, etc. for higher value products?
I know if I had a $100 product I'd much rather let you sell it at $70, $71, etc. than $1, $2…
Comment by Paul Forcey — March 18, 2008 @ 4:32 am
I like Chances idea, and what if you pushed the fear of loss as well.
So there are only 30 copies of this product and on day 1 you save 1%, day 2 you save 2% but once the 30 are gone then they are gone.
It may push people to buy rather than just waiting till day 28, you really want to push them to buy now , if they leave the site they may well not come back.
Another good point is that who wants to let a half decent product go for $1 (and then you take your share..lol)
Good idea that maybe just needs a tweak..
Comment by burt — March 18, 2008 @ 12:29 pm
That's a couple of good ideas - thanks guys.
I'll probably enbd up just releasing my own products through it, as most marketers don't realise the value of getting a very happy customer
Comment by Oli — March 18, 2008 @ 10:26 pm
Gary,
I'd be up for trying it out with one of my products if you want, should any of them be suitable for the type of audience you hope to attract. I'm as interested as anyone else to see if it actually works
My idea: Let people sell their products starting at $1, then $2 etc, then redirect them to an upsell page for another product, which the product owner can take 100% from…
Comment by burt — March 19, 2008 @ 5:10 pm
Oli - I'll be in touch - cheers!
I like that idea of transferring to an "upsell" thank you page also.
For the first month, I'll probably run it as a test using one of my products - at least then in future months we'll have an inkling of whether the idea is a go-er or not.