[atte]

Here's my situation: I have a product that I know 6% of 2000 users who have given me their email address will take for "free," though it requires 15-20 minutes of work for them to participate (so they must see some value here).

I originally priced it at $99, but I haven't been able to get anyone to pay that amount or $19. Do I just keep dropping prices until I can get someone to pay? Is it a fair test to email out varying "discounts" to groups of users to determine a price?

[tptacek]

Are you generating $99 dollars worth of value? What makes you say that? And, are you sure it isn't higher?

If your starting point on pricing is too low, you're going to be measuring below your noise floor. Running what is effectively a reverse auction on your price won't help you, because your prices are already arbitrary.

If that's the case, consider solving the problem with some mechanism other than pricing.

[destraynor]

Honestly, I'd question whether you've hit product market fit yet. That might sound bad, but just consider it an opportunity. Lots of products start here and go on to make (b|m)illions

The best thing you can do here is talk with some customers that you don't personally know and aren't connected with. Tell them you're going to give them 3 months free in exchange for a frank conversation about how they use your product and what they actually value.

That will guide you.

[monkeyspaw]

I'd work on your marketing. Do you have a series of case studies explaining the benefits? Is their ROI calculated for them?

If you're providing them with that much value, maybe you just need to bring their attention to that value.

That goes double if this is a b2b.

[atte]

Thanks for the tip. I don't have case studies or even testimonials yet, so that may be hurting me. This is what my sales page looks like: http://cl.ly/image/1a21191A2U16

[alok-g]

My gut feeling is that you should not reduce the price at all, and instead work on proving the value you provide, just as you have identified too.

If I am working on a project that I need feedback on, and I am convinced that your solution will provide me that feedback, I'll happily pay $100. At $40, I'll be happy to take risk too. At $20, it sounds like the price is so low because the results would not be worth anything.

If the question is how to bootstrap, the best I can think of is to work closely with those 6% people and refine your product to the needed extent, proving value and getting testimonials.

[timv]

I agree that $19 is too low. That page is trying to convince me that I will get ~20 comments from smart & knowledgeable people at a cost per comment of <$1.

I simply don't believe that pitch. Anyone who is willing to do that for <$1 doesn't value their time, so why would I value their opinion?

I'd increase the price, add some case study/ROI, and provide more detail about how it works (not necessarily on the landing page, but clearly linked)

[Robin_Message]

Worth pointing out what's in it for the advisors – namely, a chance to hear about early products.

[rallison]

Run your copy through a spell checker! Misspellings can easily make a professional looking site not look professional.

[atte]

Thanks and good eye (before 'e' except after 'c') - that was a slightly outdated version :)

[marcosdumay]

Think about monkeyspaw's answer, but also think about changing your users or the product.

But first think about monkeyspaw's answer, not mine.