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vahid Staff says

Hello – Travis just pointed me this way. Holy toledo this is a long thread now.

We did some analysis of the roughly price rise after the first couple of weeks. From memory it showed a slight slump for the first several days and then picked up overall there after and was positive. Otherwise we would have seriously looked at reverting/changing yet again of course.

I’ll try dig up the summary from one my emails.

I’ve also just asked Sveta, our new analyst (yet to be introduced I think), to have another look at the data now that some time has gone by. We’ll post up some details once she’s had some time to look at it. She’s kind of busy also trying to hire help and a DBA for a data warehousing project we’re working on. With all the millions of members, items and transactions we can no longer easily run complex reports off our operational databases :-O

Overall I’d say its a good problem to have :-)

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vahid Staff says

Found the email. The wonders of gmail :-)

So comparing the ThemeForest sales 1 week before and 1 week after the change we observed that the average sales price had gone up $3.80-ish and sales overall were up 8%. So overall I was pretty happy with the result. :-D

Interestingly before this price change I spent a packet on Google AdWords trying to determine what the optimal sale price point was just by changing ad copy. Was a complete failure as the CTR was the same regardless of what price I put in the copy. Sad really – I thought it was going to be an awesome way to test buyer demand. :-S

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CanCars says

pfft

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wptitans says

Found the email. The wonders of gmail :-)

So comparing the ThemeForest sales 1 week before and 1 week after the change we observed that the average sales price had gone up $3.80-ish and sales overall were up 8%. So overall I was pretty happy with the result. :-D

Interestingly before this price change I spent a packet on Google AdWords trying to determine what the optimal sale price point was just by changing ad copy. Was a complete failure as the CTR was the same regardless of what price I put in the copy. Sad really – I thought it was going to be an awesome way to test buyer demand. :-S

Okay thanks. hoping to see the new sales track of larger time frame. But i think Sveta will do a good job of delivering this soon. So we can compare the sales over a few months period rather then a week.

One week isn’t really a good comparison.

Thanks Vahid for replying here.

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vahid Staff says

Hi wptitans – Completely agree about 1 week being too short a period. We actually started monitoring as soon as the price change went out – you might say we were kinda excited to see the results! :-D I’m sure I had an analysis around the 2 week mark also but can’t seem to find it at present.

Of course it starts getting harder and harder to measure the direct affects the longer the time span. TF, and WP of course, continue to grow like a weed, but there are also seasonable affects. Apr-Jul are usually pretty slow months. I suspect extracting the price change affects will take some effort.

Somewhat unrelated – As it happens I just found an old email of Jarel’s asking me to publish this information 1 month after the price change. I should have paid more attention to him. Grrr. :-(

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CodingJack says

So comparing the ThemeForest sales 1 week before and 1 week after the change we observed that the average sales price had gone up $3.80-ish and sales overall were up 8%. So overall I was pretty happy with the result. :-D

Hi Vahid,

Now that we have successful data with the increase, can we consider increasing prices for other things such as CodeCanyon plugins? We all know FlashDen was wildly successful. Yet now that we’ve transitioned away from Flash, the same items sold on CodeCanyon are being sold at a lower price. This disparity has always confused me because buyer demand never went away. People still need the same stuff—they just need it to work on an iPad now instead. So why have a different pricing model for the same products with the same demand?

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vahid Staff says

Hi CodingJack. We have a long list of repricing to do, particularly on CodeCanyon plugins. But also lots of disparity else where… I’m sure those qualified than I will point then out if I give them an opportunity…

In fact there is so much work associated with repricing (there really is a lot actually) that we’ve been planning on bringing on someone just to focus on this front.

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CodingJack says

Hi CodingJack. We have a long list of repricing to do, particularly on CodeCanyon plugins. But also lots of disparity else where… I’m sure those qualified than I will point then out if I give them an opportunity… In fact there is so much work associated with repricing (there really is a lot actually) that we’ve been planning on bringing on someone just to focus on this front.

Awesome! And if it’s in the plans that’s good enough for me :)

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wptitans says

@Vahid

While your at it. Is it possible to inform us if the envato developers are working on or are planning to work on a better homepage structure and search functionality.

When you look at the other big stock sites, they all have a strong focus on searching through there products. Think this should be a must since the competition is growing and more and more theme are coming in. And the attention we get on the homepage or category page with our new item is reduced from 1 week to 2 days in a few months.

Thanks for taking the time to respond on your free sunday ;)

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VF says

Hi CodingJack. We have a long list of repricing to do, particularly on CodeCanyon plugins. But also lots of disparity else where… I’m sure those qualified than I will point then out if I give them an opportunity… In fact there is so much work associated with repricing (there really is a lot actually) that we’ve been planning on bringing on someone just to focus on this front.

Thanks for considering. More than overall price increments, another part needs to be considered especially in CodeCanyon. Whenever the items get updated with major features, the item price doesn’t gets changed. For price increments, authors are requested to contact support. That’s fine but as a side effect, what actually happens is some files after tonnes of updates manages to undercut similar category files with apparent low price. The same files with latest features might be priced around 2x or even 5x than when it was approved (since the additions almost makes it like a bundle).

A terrible example is almost all the sliders approved for around $5 – $8 manages to stay with same price even after major updates which makes them to serve as slider, thumbnail gallery, lightbox and almost half of the functionality of entire Image Viewer category files.

So just wanted to point that it is important to monitor files to make sure fair competition not compromised. Day by day Codecanyon becomes a place of selling bundles (covering few categories) in the form of ‘framework’ with the same price as single items. This actually doesn’t need much efforts, just once per month, if a reviewer visits weekly popular files page and checks the top seller’s price and features – that’s enough.

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