Pricing Advice · Selling Online / Prime Mover

Pricing Advice

I'm looking for advice. I’m releasing a new product that can drastically improve physical performance in the gym. Currently, I don’t have many reviews or testimonials.

Do you recommend lowering the price, in the beginning, to increase conversion and then get reviews? Then, when I have more reviews, I increase the price. My concern with this is that it’s always hard to increase the price of a product.

Or set the price as what I intend to have it in the long run?

My plan is to charge £169 or thereabouts in the long run.

I’m considering charging £99 or £89 at the start to increase conversion.

My production cost is around £40, including shipping, so I still make money at £99 and £89. However, this might not fully cover the ad costs to drive traffic to the funnel.

The product is a one-off purchase and not a subscription-style product.

I have given some away but when people get stuff for free they are slow to really put them to the test.

Any help on this would be very useful.

Many thanks

Timmy

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