If you’ve read my articles in the past, you might remember to avoid the first mistake: dropping the price. If you have an expensive product or if your customers are saying “the price is too high” – you can drop your price, but – before you do that take a look at this alternative option:
Let your customers make the product payment in parts: For example, not many of us are eager to buy $100 modeling tool, but what if you could get the tool by paying $10 per month? In western countries $10 per month is nothing, but paying $100 one time might not be available for everybody.
This type of pricing works everywhere: if you have $500 product, why not try giving customers option to buy the product now and pay $100 for six months. Or perhaps $50 for 12 months?
There one problem that you might consider: some people might stop paying you after the initial payment. But that problem is there anyway, whatever your price is. If you are selling games or services, there’s always the possibility for people to make false orders. Some people are giving money back guarantees as they know these dangers. The money back guarantee is given for the reason to help honest people making the purchase. This type of split payments are done exactly for the same reason: to make sure those who want your product can afford it.
The most secure way for partial payment pricing is naturally when your product (or service) is online or uses some online method for checking the product license. When you check the license online, you can easily make sure pirates cannot use the software for long if they try to fool you: you simply disable their accounts if you see something suspicious.
In shareware industry, the standard price for games is $20. Have you considered pricing your game $30 and then charging $5 monthly (for 6 months)? People might not want to pay $30 at once – but they might be interested in getting the game and pay you later.
I bet it would’t hurt to try.
And for more information about product pricing, take a look at previously written article: 18 Approaches for Setting the Right Price For Your Game.