What is the key to massive financial success?

One of the biggest questions most people ask is what can I do to make loads of money on the Internet? And it is a question that many “gurus” charge vast amounts of money giving the answer. But the simple truth is that the answer to that question can be found everywhere you look.

Look in your own town at the businesses that make the most money, the ones that have the most customers and you will see that the secret to the success is in selling small items that people really want for a small price. This is the principle that has made Wal-Mart the largest supermarket chain and why cheap shops have the most customers.

When I saw this I realised why so many newbie internet marketers are struggling and why I had been frustrated by small conversion rates on my sites. I had sites with great products, I just couldn't get the conversion rate up above about 3%. Then I discovered a simple principle:

“Make the price a no-brainer”

The idea is to set the price at a level where everyone buys and no one is disappointed. This means that you have a conversion rate close to 100%, how does that convert into real world money?

Imagine you had a product you were selling at $27 and you were converting at 3%, you would earn $81 for every 100 visitor. Now imagine you change the price to $7 and you conversion rate goes up to 50%. Now you are making $350 for every 100 visitors. So you see the value of that site has now gone up 432%!!! and nothing has changed except that the price is cheaper.

But what is the right price?

The best way to find the right price is to experiment, try different prices and see what results you get. But there are a couple of things that you should consider:
Any price in double figures prompts the question “do I need this?” which can scupper your sale immediately.
Any price below $5, tends to be dismissed as not worth it.
There is a psychological acceptance of prices ending in a 7, so a price tag of $7 would seem to be the best place to start. But as I said before, test your own product and see what happens.

To see an example of how this works, take a look at this "mini-site"

The principle is so simple, and yet we can see how effective it is throughout the world.

http://minisite.buildfreedom.net/