Wetlook World Forum
Current time: Tue 22/08/17 13:58:57 GMT
Message # 70618.3
Subject: Re:WETFOTO 2.0 - PRICES
Date: Sat 17/06/17 02:02:08 GMT
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|Here are my thoughts on this. Costco's business model is very interesting. They have done studies and have found that the more options people have, the less likely they are to make any purchase at all. Psychologically, the more options the customer is faced with, the more likely they are to postpone their purchase and possibly go somewhere else. That is why they offer only one or maybe two brand options for many of their products. You go in to buy, say, peanut butter, and you buy the only one they offer, which is way more than you probably need, but none the less, you bought it because it was on your list and there were no other decisions to be made. It's simple. I wonder if that same model doesn't apply here. You offer the "photo" option, the "video" option, and then the "kit" option. Meanwhile, I am already thinking of moving on to another site (such as Wetlooker.com, for example) because your process is lacking the simplicity to drive this kind of decision. I'm not saying I'm incapable of making these kinds of decisions, there are just other options that I am always entertaining. Wetlooker (I hope you don't mind if I use you as an example) for example, offers 1 option for each set, which includes whatever was shot at the time (photos and possible a video as well). It is just simple. Do I want the set or not? If I didn't, I would not be on his site in the first place. There are some differences that may play into all of this: Wetlooker puts out about 10 new sets each day where as your quality is arguably better. So, how does pricing play into all of this? Can your sets be sold for the same $7 that Wetlooker offers? Is quality/quantity comparable? Maybe you figure his prices are too low. The fact is, I've bought more sets from Wetlooker equating to more money spend on his site than probably all the other sites combined for one reason and one reason only. I feel like $7 per set is a good deal for photos and videos. Would he have made more from me if his sets were say, $15 each. Absolutely not. I'd buy much less than I'm buying now. Probably to the tune of none. Why? Because $15 for one set (kit) is already half way to the $30 monthly subscription of many of the other producers, so I might as well just spend the full $30 and get 20 or more sets. I've wanted to subscribe to Wetfoto for some time now, and I have the money for it, but I haven't done it in a probably the past couple years because I feel $50 a month is not comparable to the going rates out there. It's all about the price points, which need to be figured VERY carefully. Lets do the math: The number of your $50 subscriptions bought by me over the last 2 years is 0, which means you made $0 from me. Reduce your subscription down to $30 (or even $40, arguing your quality is greater), and now the estimated number of your purchased subscriptions by me is going to be closer to one every 4 or so months, which now brings in an additional (using $35 as an average) $35 x 8 (quarterly for 2 years) = $280 to your bottom line. Don't believe me, reduce your price and I'll purchase today. My point is, your price point has to be somewhere close to other producers price points, otherwise I'll just go elsewhere. Now, maybe most other wetlook enthusiasts don't agree with me, and maybe you're killing it to the point where you don't need an additional $140 per year. Only you can answer that. This is just my opinion, but it is also my $280. Hope this helps. Curious to hear what other wetlook enthusiasts think. Comments? Thoughts?|
|In reply to Message (70618) WETFOTO 2.0 - PRICES
By Viktor - email@example.com Fri 16/06/17 13:29:21 GMT
Website: http://wetlook.one/ www.wetlook.one
At the stage of creating our new http://wetlook.one / www.wetlook.one site, we conducted a market analysis and set prices for our products.
After the opening of the site, some members of our wetlook community have paid attention to the fact that the prices for our products are too high.
Perhaps we did not take an attention for the factors affecting the price.
Therefore, we decided to appeal to you.
It is important for us to hear your vision of the market of prices for wetlook including our site.
According to your what price should be for the set and its individual parts:
3) kit (photo + video)
We are interested in all your opinions
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