poll Best Pricing Strategy

[TopBrandsForSale]

Hi, I'm wondering which price has the highest STR.
And if this really matters.

 

[TopBrandsForSale]

Thanks to everyone that will partecipate

 

[TopBrandsForSale]

My two cents:

For prices under 1k I would apply these two options 750$ or 988$

For prices between 1k to 4k I would go with something like 1488 or 1699 or 1988.

For prices between 4k and 10k, I'll keep 4950, 6950, etc... (but I'm not 100% convinced about this)...

Above 10k I mostly price straightforward, 15000, 18000, 25000, etc...

What's your take?

 

[Peter45]

Wouldn't selling a domain for $99,999 be considered trolling?

 

[poweredbyme]

Round numbers are more memorable and convert more for return visitors.
Being memorable is more important for higher priced items as buying decision requires comparison. Buyer has to memorize price to compare your domain with alternatives. Memorable prices are important also in buying decisions for budgeting and financing/borrowing.

To be more specific;

For 100,000+ I would add 4 zeros to the end (e.g., 120,000 - 680,000 - 310,000, etc)
Between 20,000 and 100,000, ending with 000 may perform better (e.g., 32,000 - 76,000 - 53,000, etc.)
Between 1,000 and 20,000 numbers ending with 00 have a better chance in my opinion (e.g. 16,700 - 5,800 - 3,400)
Between 750 and 1000 I would chose either 750 or 1000, would avoid anything in between.
Under 750, number doesn't matter much.
I would avoid cents.
Trying to sell domains under 100 is usually waste of time.

As to the original question, the best price would be 1,900 or 2,100

 

[Jannes]

Where does this $x88 $xx88 $x888 etc. frenzy stem from? I know there is someone who regularly reports sales of $xx888, but now everyone and their mother seems to be using those kind of prices when the traditional charm pricing (odd number endings) would make more sense, at least when we are talking about ”consumer level” prices, otherwise I wouldn’t even bother with charm pricing.

Yes I know about the value of number 8 when you’re focusing on the Asian market, because Asian sellers & buyers emphasize luck and good fortune, but I still find its popularity baffling.

As counterbalance, 88 is a neo-nazi symbol (at least in Europe; e.g. it's banned on Austrian license plates) and 1488 is also used by white supremacists.

 

[cooljub]

Some interesting stuff about price points from @twiki here..
15 Pricing Points / Tips: The $300 - $3K retail price range

 

[Jannes]

Thanks

Some interesting stuff about price points from @twiki here..

Thanks, so 88 endings and especially 1488 are so popular because they just work. I guess I shouldn't worry about the hate symbol connotations. I'll avoid them in my euro prices, though.

 

[Samer]

Thanks


Thanks, so 88 endings and especially 1488 are so popular because they just work. I guess I shouldn't worry about the hate symbol connotations. I'll avoid them in my euro prices, though.

“8“ is lucky number in many cultures, including Chinese.

It’s the little tips & tricks. I’d price $1888 (Not in poll!)

 

[TopBrandsForSale]

Awesome tips guys!

Thank you. For higher prices, do you still recommend ending them with 88, or better to change that?

For instance, what is your favorite pricing strategy for these price points?

- Around 5k: 4888, 4999, 4995, 4988, 4950, 5000?
- Around 10k: 9888, 9999, 10000, 9950, 9995?
- About 10k: 12800, 12500, 12888?
- Higher let's say 35k: 36000, 35999, 34950, 35000?


Thank you so much!

 

[davidc1]

Biggest player (hugedomains) use 95

 

[phaethon]

Sorry, but pointless thread. That won't sell your domain if the domain is crap.

 

[davidc1]

Sorry, but pointless thread. That won't sell your domain if the domain is crap.

Be sure that big players know what they do...

 

[dr manos]

with the 88 for the Asian investors
Avoid 4 and 0 inside

 

[poweredbyme]

“8“ is lucky number in many cultures, including Chinese.

It’s the little tips & tricks. I’d price $1888 (Not in poll!)

Another reason is high similarity between 8 and 0.
Those who read very fast or don't read carefully or have problem with their eyes, may read 1888 as 1000 accidentially.

Some people may not easily notice the difference between 1888 and 1000.

* some fonts displays zero with ( / ) inside. It makes zero very similar to eight: if you add (X) to inside of zero it will look very similar to eight.

* On some screens such as old fashion digital watches, difference between zero and eight is only (-)

 

[TopBrandsForSale]

Sorry, but pointless thread. That won't sell your domain if the domain is crap.

Pointless comment. Of course, the main sales driver is domain quality.

But pricing plays a decisive role in marketing and sales.

If you don't understand this concept, you should study the topic, my friend.

 

[Thaifons]

Biggest player (hugedomains) use 95

Then why BuyDomains 88 and NameFind (GoDaddy) 99?
I don't understand.

 

[Jannes]

Then why BuyDomains 88 and NameFind (GoDaddy) 99?
I don't understand.

Some of those big players think that they can afford to not experiment? I put my trust in experience backed up with experiments, not just years.

 

[phaethon]

Pointless comment. Of course, the main sales driver is domain quality.

But pricing plays a decisive role in marketing and sales.

If you don't understand this concept, you should study the topic, my friend.

I understand that guys obsessed with this silly strategies have poor quality names.

 

[TopBrandsForSale]

I understand that guys obsessed with this silly strategies have poor quality names.

I understand that guys that don't take into consideration pricing strategies have a poor business mindset.

 

[ArielT]

Any chinese?

What about 8,888 ?

Thanks

 

[abcuser123]

Hi ArielT

I am Singaporean Chinese and its true that the number 8 in Mandarin is pronounced as "ba", which is associated with the Chinese character "Fa". For 8,888, it is considered an auspicious number as it is intrepreted as "fa fa fa fa", which means prosper financially in English.

On the other hand, the number "4" is pronounced as "si" which sounds like die. Hence, Chinese people try not to use this number in hotels or weddings (unless you are at a wake).

Hope this clears any doubts on the Chinese intrepretation of numbers!

 

[Bob Hawkes]

I am not sure it makes much difference, and over years keep changing my preference, but voted 1995.

As @Samer and @abcuser123 pointed out, the Asian interpretation of 8 as lucky probably has much to do with the 88 popularity, and several highly successful big sellers use it, I presume based on evidence within their own portfolio. I do use 88 for some of my pricing.

A Turkish marketing study, not based on sales of domain names in any way, found that triply repeating digits were effective, i.e. consumers might prefer $2222 to $1988. I tried it for a little while, but have switched most back.

Thanks for the interesting points made by all commenters, and to @TopBrandsForSale for starting the discussion.

Bob

 

[TopBrandsForSale]

I am not sure it makes much difference, and over years keep changing my preference, but voted 1995.

As @Samer and @abcuser123 pointed out, the Asian interpretation of 8 as lucky probably has much to do with the 88 popularity, and several highly successful big sellers use it, I presume based on evidence within their own portfolio. I do use 88 for some of my pricing.

A Turkish marketing study, not based on sales of domain names in any way, found that triply repeating digits were effective, i.e. consumers might prefer $2222 to $1988. I tried it for a little while, but have switched most back.

Thanks for the interesting points made by all commenters, and to @TopBrandsForSale for starting the discussion.

Bob

Thank you Mr. Bob for your contribution

I decided to switch back to 88 for now.

Let's see how it goes!

 

[Bob Hawkes]

DomainMarket is fond of 888 for the majority of their names, although interestingly the really high value ones they go to 000 pricing.

BuyDomains use a few alternatives, although a lot of their names end in 888 or at least 88.

SquadHelp seem to like 99 endings for premium listings, but exceptions, perhaps some of which are sellers changing prices.

-Bob