Radical Disruption20 Aug 2024

81. I tried out a “pay what you want” option on an offer, here’s how it went

In today’s episode I share how I tried out a “pay what you want” option on an offer, here’s how it went: Earlier this year I wanted to experiment with something new in my launch strategy for a brand new offer. Kajabi has a new “pay what you want” feature that allows your customer to enter what they want to pay at checkout. There’s no set price (you can set a minimum) and it’s up to the customer to choose what the value is.

In this episode, I share what I learned from this experiment:

Using this feature can be a good way to do a/b testing
It can be a way to collect data from your customers to help set an official price point
When I let my target group in this experiment pay what they wanted, they chose to pay an average of $15 for the offer
I ignored the average people chose to pay because I saw the actual value and I increased and set the price two different times with great results
New customers might not see the value in a paid offer like your current customers do
People see the value that you assign to the offer
It’s through your marketing that you’re attaching value to the amount you’re charging for the offer
Pick a price you can stand behind and work on your marketing messaging to show the worth

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Find the full show notes here: https://myanichol.com/2024/08/20/i-tried-out-a-pay-what-you-want-option-on-an-offer-heres-how-it-went-episode-81/

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