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Pricing strategy - How do your end your prices (e.g, 00, 99)?

Labeled as discuss in General Domain Discussion started by spikedo, Apr 5, 2019.

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  1. spikedo

    spikedo Top Member VIP ★★★★★★★★★★

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    Been thinking about my pricing strategy lately. In particular, how I end my prices. Admittedly, I'm kinda all over the place. I use them all: 00, 88, 95 and 99. Occasionally, I'll use a random number just because. Looking at my sales, there really hasn't been a trend that pops out. Some of the domain name markets are known for using one type: DomainMarket and BuyDomains end their prices with 88; HugeDomains with 95.

    So, if you had to pick just one number below, which one do you end your prices with most often and why? Please share any pricing strategies, tips, or thoughts.
    • 00 (e.g., $100)
    • 88 (e.g., $188)
    • 95 (e.g., $195)
    • 99 (e.g., $199)
    • Random numbers (e.g., 34)
     
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  2. moe

    moe Established VIP

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    I found some success in 49 price ending (e.g., $149).
     
  3. WatchDogue

    WatchDogue Top Contributor VIP

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    Most of my domains listed for sale will end with " 99 " as the last two digits on the right.

    I've been aware for years of earlier research that seemingly suggested that pricing ending with " 99 "
    was perceived by a buyer to be better buyer priced than prices ending with " 00 " - just a penny more.

    Have not followed contemporary research on pricing - perhaps google something like - psychology of product pricing - and get some new research that might apply to domain names.
     
  4. stub

    stub DNStore.com PRO VIP ★★★★★★★★★★

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    Usually I prefer to round to the nearest 1K. I stopped playing games with prices a long time ago. It never made any material difference. IMHO. I treat Buy Now and Make Offer the same. The only difference being that Make Offer is generally higher priced to allow for negotiations. I'm only just now moving to all Buy Now pricing. It's a long haul.
     
  5. BaileyUK

    BaileyUK Top Contributor VIP

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    this 99 and 49 stuff only really works where you can go next door (another seller) and buy the same thing. so we are talking about new hand registrations.

    You can't go next door and buy the same product cheaper on a resellers market. Buyers and sellers want round numbers not mind games. The fact that a certain reseller played with all the 888's was both amusing and confusing. Doubt it made an iota of difference to the sales volume, more likely lost $112 on every sale.

    there maybe something to gain in the under $400/500 range $349 etc. In the hope the potential buyer is memorizing only the 300 number.(which is the psychology behind it) but, then you need plenty of sales to get the 49's to add-up
     
    Last edited: Apr 6, 2019
  6. henrypcyeung

    henrypcyeung Established Member

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    8 is a lucky number which means fortune in the Chinese culture. The Chinese people have a more positive feeling on '8' than other numbers, so when compared to other pricing strategies, the '88' pricing strategy can trigger more sales in China. This pricing strategy is suitable to Chinese pinyin domains, domains with '8', money-related domains and Chinese buyers.
     
    Last edited: Apr 6, 2019
  7. MediaCode

    MediaCode MediaCode.com ICA Member VIP

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    True. At the same time, the number 4 is an unlucky number in Chinese. The way 4 is pronounced in Mandarin is close to the same sound used for death. Thus, it's considered a misfortunate number. So, do not end your prices in 4, 44, or 444 if you wish to minimize aversion by potential Chinese buyers. It's more superstition than anything but, who knows, perhaps at the margin it could make a difference to the prospective Chinese buyer.
     
  8. noonoo1

    noonoo1 Top Contributor VIP ★★★★★★★★★★

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  9. Bannen

    Bannen Don't say Huh? too much; pretend you understand. VIP ★★★★★★★★★★

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    I have tested out my whole portfolio with a few different end-digit methods, for example a domain that might be priced in the 2.5K range: 2499, 2488, 2495, 2445, 2449, 2450, 2500... I would change all my domains, leave them that way for up to a year...

    ...and personally I did not see any difference in sales statistics at all, after a decade of experimenting. Now I just round them to the nearest $100, like $2200 or $3900 instead of monkeying around with the last couple digits.

    Others may have different results; but other factors come into play also, like how many sales are from outbound, from BIN on a marketplace, from inbound offer and negotiation, etc. I just look at the overall sales numbers (both total price and total domains sold) and don't see any calculable difference using any different end-digits in the pricing. My last 3 recent sales were for 1800 (inbound email offer through Whois), 250 (Afternic BIN) and 650 (inbound Efty offer). No fancy prices :)
     
    Last edited: Apr 6, 2019
  10. Jurgen Wolf

    Jurgen Wolf Top Contributor VIP ★★★★★★★★★★

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    This doesn't matter at all if price is within buyer's budget.
     
  11. Jurgen Wolf

    Jurgen Wolf Top Contributor VIP ★★★★★★★★★★

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    p.s. From my multiyear negotiation experience - buyers always offer the amounts rounded to 0.
    Had the only one offer of $999.
     
  12. Mister Funsky

    Mister Funsky Top Contributor VIP

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    As someone above said it, at least with domains, hasn't made a difference in my sales. 500 is my bottom retail number and all end in 00 (2500, 3500 4900, etc).

    In my marketing/advertising promotions, everything ends in .99 (19.99, 39,99 79,99 etc) with none of the products exceeding 99.99. (this is not pricing that is used on domains...products and services)
     
    Last edited: Apr 6, 2019
  13. DomainBlade

    DomainBlade Purchase your perfect domain at DomainBlade.com

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    Usually on a 5, ie $195. However, I think it’s got to the point where people instantly round the figure up if it’s close, to the nearest 10, 100, etc - the psychological impact is wearing off.
     

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