Well I hope we are all having a great weekend. Even though it is Sunday doesn't mean you can stop! Today's challenge is to do with your conversion rate and your prices.
Pricing is always a tricky subject on TPT some people use complicated formulas (there is a great free one here) and some people (like me) just kinda guess... I tend to look at a product and try to pretend, if I had never seen it before, how much would I be willing to pay? This isn't the best strategy but it works for me to an extent.
Anyway today our challenge is to have a look at our conversion rates and figure if our products are pitched at the right price. Generally it is expected products will have a conversion rate of between 2-3% this means for every 100 people who look at your product 2 or 3 people purchase it.
If your rate is lower than this you might what to try and work out why, is there a preview? Is your product title or description not quite right? Or is it too expensive?
If your rate is too high it could mean you aren't charging enough. Don't undervalue your work. I'm not saying bump up your prices like crazy but a small increase (.50) and keep an eye on it see how it performs.
So yes today you are going to take a good hard look at your process and conversion rates.
Don't forget to link up your products and blog posts below.
Hope you enjoy the rest of your weekend. See you tomorrow.