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30% and Offer Price and Loyalty Discounts and and and...
Discussion started by 3dgtx
Hey guys and girls,
I wanted to ask about your opinions and experiecences about all that strategies how to price items and to offer all that kinds of "discounts" for potential buyers. On one hand, I see so many vendors offering simply everything.... they add simply everything together what´s ever possible and add probably a coupon code on top of that... ending up in averaged 70-80% royalty from the final cut (minus taxes and what not). Do you think is it a good approach? Those vendors go also often for 50% or more percent for super discount rates (I saw them very often even at 70%).
So, what do you think about that? isn´t that humiliating in some way? if vendor intend to live from that? what works better, 30% versus loyalty discount? 30% versus 50%? offering discount codes before or after a purchase?
I personally make small-small bucks since having a small-small and not so famous portfolio, so I am not gready to get infos, infos, infos, to make some bucks more per month because these infos won´t rescue me in any way. I just want to understand how you think and feel about pricing because I saw so many different strategies and simultaneously so many paralleles between multiple vendors (maybe copied from each other, don´t know). Hence, it´s clean curiosity! and I guess many of you´re also pretty curious what others think about that :-)
All what you have experienced so far till now on CGT is important and appreciated if you share it, you are welcome!
Answers
1
Yeah, might be an idea to start a new thread. However, I saw the impact, and that was poor. Forum on CGT is poor anyway, very little constructive ideas and almost no constructive communication between vendors, but a lot of agressive "jaguarbeastproduction" comments. Seems to be waste of time.
Could be a waste of time - you never know I guess. I look at it as every interaction I have is 50/50, I learn something new or I dont, either way it doesnt hurt to try, some people can surprise you. But you are right, the CGT forums dont provide much value currently, unless you are really really interested in gummies or whatever that spam is lol.
3
However, it was not meant to be a conversation between me and 3dCargo, so I bumpt that thread right now, because it´s important.
3DCargo as xample offers still and continued a 30% discount. Since months, or even longlife?
That can be also a "strategy", to go 30% up all along and offer it than 30% down.
I don´t mind, nothing against it, it´s on you.
Bu in regards to "offer price", I tried the "offer price" option, but that resulted in (pseudo) pontential
buyers offering almost always 50% of the price, and as a test I accepted all those offers with a "you are welcome" & kind regards".
And guess what?
not one of those "price offer" heroes buyed it, even when their 50% was accepted.
For me personally, that option is a stillbirth.
Looking for another "strategies" that can work well, besides of the dumb "make unique, high quality contents and you will sell"
discussions.
Still, anyone is welcome to share experiences with pricing strategies.
It´s one of the most, if not THE most important thing, why *serious* vendors actually spend their time to produce or redesign,
and present in a time-consuming way their stuff on CGt and another marketplaces, we alld o that for money, but that needs
also working pricing strategies, taking account of all those options that CGT in example offers (dicounts up to 70%, coupon codes,
loyalty credits, or even all together!).
Don´t be shy! share your experience with the community. Even things related to what doesn´t work at all for you regarding your
hard efforts without success. Everything will help to "FINETUNE" the pricing question.
I hope I could motivate some another vendors to take part in that thread.
FYI I don't put those discounts on, CGT does I just allow a maximum of 30% when they have their 'sale events'. Those sales events seem more frequent these days and It's not really part of my 'sales strategy' at all, however I left it on to see if it makes an impact as any information is useful at a later stage to investigate those 'sales events' and what percentage they account for over a 12 month period.
The only permanent sale offers I have are 20% off for my packs. As an example I have 4 dining room sets, by selling all 4 together the customer will get 20% off the package price - however that's built into the initial price. I do that because I would do the same if I had a real brick and mortar store - buy a pair of socks for $5, buy 4 pairs of socks and get 20% off the total price.
I think its also wise to check your inventory every 6 months to see which items are not selling. If you have something that does not sell then its probably priced too high or not in demand, you can decide to upsell that content by offering either a better price, a package deal, include more content for that item, include more 3d formats, update the content (in my case that might be new fabrics/colors/trends to suit the current interior design trends) etc.
Also it might be hard for people to participate in this thread now since its a month old and CGT forum system does not push new comments to the top, only those who previously participated/liked comments in this thread will be notified. This thread is probably hidden a few pages down by now. Might be good to start a new thread (unfortunately).
What do you mean they offer 50%? Personally I have no offers, they buy or they dont at the specified price.
If this was a rhetorical question, than I can say, right, brilliant answer.
If not, I mean the "price offer" option, that every vendor on CGT has. Instead of or in additional to any discounts or promo codes.
So, as I understand that was indeed a rhetorical question. You´ve made your statement.
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Check the market average price, from this you can see what is on offer for that price, if you give more price your item higher.
In my experience when buying models from the market place the price is not what I look at first, its the quality. If its good quality and around average/above average price ill purchase.
Dont worry about what other people's strategy is, without talking to them directly you are just guessing and that doesn't give you good analytics. Focus on your product, what value you offer and if you know your product is of quality standard its probably worth more than you think it is.
Good points, thanks for your feedback 3DCargo. But "Check the market average price" is a problem. I´ve had a folio on Turbosquid, RenderHub, 3DExport, FlippedNormals, CGTrader and more. So, which "market aveage price" do you mean? Because on each of these platforms the price for specific items differs, totaly. A simple high poly ball in high quality is conventionally 200%-500% more expensive on Turbosquid as on CGT.
The only thing what does not differs is quality, good quality sells of course everywhere, but firstly it doesn´t slove the price question and I saw also excellent quality models (Triple A ready) for $5 at Artstation.
Hence.... turning in circles.
If you sell on many market places you know which ones give you the higher percentage of your income. So for example lets say I sell on "X" market place, and most of my sales come from "X". Then I would set my price to the average of "X" market place. If other market places dont sell so well then they wouldn't have anyway, but your client base (whichever market you sell most on) will buy your product for that price range.
For example, I also sell on other market places, the first thing I checked was other people who do the same thing. Some people sell their item on "X" marketplace for more than "Y". Some people keep the price the same. My first thought, why? Then I realized why doesn't matter, look at your sales and income numbers that's the best indicator. Lets say on market "X" I get 40% commission and "Y" 80%. If I sell 2x more on "X" that's equal to "Y" right? So "X" is the average price people are willing to pay, forget about "Y". Then work out what you think you should get in commission so lets say I put the model up for $50, 40% of that is $20 - Am I happy with $20 for this model, if so then any repeat sales on either market place will be either $20 or $40 each, that's equal to or double than I wanted for that model. These are just basic numbers, I haven't put in the tax/etc. but its easier to see the forest from the trees.
thanks for your thoughts. Hence, i.e. SQUIR sells their car models at prices that can be reached more likely on RH and TS as on CGT, if I follow that logic. I know that on RH and TS cars are definitely more expensive as on CGT, no matter if high or mid poly. But it does not apply for SQUIR, they offer their items practically everywhere at same prices, probably taken from the reached high stacks somewhere, and they ignore the more price sensitive buyers on CGT. However they are an exception, why I handle with them, don´t know. You brought in however an important point, the "market average price", that on one hand is nowhere the same actually..... but on another hand dedicted to where this price is being "made"... by the simple fact where the most sales happen for this particular product / item / genre at which price. Right?
A logical and rational approach, I like it.
But how about all that "sales" and discounts? We would have to calculate it with a calculator each time if offering all that discounts.
I dont think you bother with calculating the discounts, you just have a margin. So like I mentioned above if you are happy with that $20 you made from the lowest comission, and you have sold that product 10x, you have already made $200 on it. So do you care if a few more people get it for $10? Lets say that puts you up to $300, not bad, also if you provide a range of products the customer might think this is great, ill buy a few more things from them. This is putting yourself in the shoes of someone with a large library with similar content btw, otherwise they might just take a quick look and move on.
I get your point.
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