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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