Comments on: “Dime Sale” Lessons and Ruminations http://WhiteHatCrew.com/blog/dime-sale-lessons-and-ruminations/ Advice for Internet Marketers with Ethics Wed, 01 Feb 2012 20:24:10 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: Learn Bass Guitar Dude http://WhiteHatCrew.com/blog/dime-sale-lessons-and-ruminations/#comment-348 Learn Bass Guitar Dude Thu, 19 Nov 2009 15:34:59 +0000 http://WhiteHatCrew.com/blog/?p=165#comment-348 Thanks for your great insight into Dime sales. You have inspired me to give them a try! I agree not everyone is having an easy time with the economy and this is a great way to offer people a good deal. Thanks for your great insight into Dime sales. You have inspired me to give them a try!

I agree not everyone is having an easy time with the economy and this is a great way to offer people a good deal.

]]> By: Antone Roundy http://WhiteHatCrew.com/blog/dime-sale-lessons-and-ruminations/#comment-277 Antone Roundy Thu, 03 Sep 2009 16:14:43 +0000 http://WhiteHatCrew.com/blog/?p=165#comment-277 I've seen dime sale scripts that start at a low price when a visitor first arrives on a page (no matter when that is), and increase it at fixed intervals. The advantage of this approach is that you can run your dime sale constantly forever as traffic trickles in over time. But there are many disadvantages, including: 1) There's not a good "reason why" the price is going up. With the kind of dime sale described in the post above, customers are racing with each other -- the price goes up because somebody else beat you to it. 2) With a fixed interval dime sale, the starting price may be perceived as the "real" price, and as the price goes up, you're getting penalized for waiting. In a "race" dime sale, the starting price is the "great discount" price, and as it goes up, it's still a discount. 3) Many people will know that they can get the initial price by reloading the page (possibly after deleting a cookie). This makes them look more gimmicky. 4) "Race" dime sales create social proof. If you're seeing the offer at $14.00, somebody must have paid $13.90 (or whatever the previous price was), so the product is surely worth a dime more than that, right? 5) Race dime sales have a whole different feel to them -- it's not just you sitting there on the page all alone deciding whether or not to buy -- you're part of a crowd knocking down the door to get the best deal. It's more fun, more exciting, more social -- there's a sense of accomplishment if you get a great deal. I’ve seen dime sale scripts that start at a low price when a visitor first arrives on a page (no matter when that is), and increase it at fixed intervals.

The advantage of this approach is that you can run your dime sale constantly forever as traffic trickles in over time.

But there are many disadvantages, including:

1) There’s not a good “reason why” the price is going up. With the kind of dime sale described in the post above, customers are racing with each other — the price goes up because somebody else beat you to it.

2) With a fixed interval dime sale, the starting price may be perceived as the “real” price, and as the price goes up, you’re getting penalized for waiting. In a “race” dime sale, the starting price is the “great discount” price, and as it goes up, it’s still a discount.

3) Many people will know that they can get the initial price by reloading the page (possibly after deleting a cookie). This makes them look more gimmicky.

4) “Race” dime sales create social proof. If you’re seeing the offer at $14.00, somebody must have paid $13.90 (or whatever the previous price was), so the product is surely worth a dime more than that, right?

5) Race dime sales have a whole different feel to them — it’s not just you sitting there on the page all alone deciding whether or not to buy — you’re part of a crowd knocking down the door to get the best deal. It’s more fun, more exciting, more social — there’s a sense of accomplishment if you get a great deal.

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