Technically, testing price is simply a component of the offer. But because of its powerful influence on purchase conversions, and other particular qualities, it deserves a separate closer look. It is difficult to price-test when discussing a whole portfolio of products in a large e-commerce catalog. This section describes a single-product purchase (or a single product with a single upsell).
The advantage of price testing on the Web is that you have several desirable conditions:
- Large numbers of new prospects who have not been exposed to your company before
- Ability to easily modify pricing displayed to a particular visitor
- Ability to hold all other factors constant
- End-to-end tracking and immediate recording of the sale