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yomrholmes Envato team says

Hello all. Alex here (again). I’ve been busy growing a marketing team here over the last year, building out more capacity around everything from paid search, organic search, newsletters, affiliate traffic, elite author marketing, and everything in between.

Something I’ve been wanting to test for a while now is using limited time discounts as a means to grow awareness and sales in relatively unknown categories on the marketplaces. Today, we’re launching our first test in this arena.

First, What Is It?

From the 11th of February until the 17th of February, we are reducing the price of email templates by 30%, and rounding down. For example, if your template costs $18 normally, we’ll be reducing the price to $12 for 7 days, and after 7 days, your item will return to $18.

Here is the landing page

Why?

The goal for this promotion is to generate more revenue from email templates during the promotion AND after the promotion. Data from the PhotoDune credit back promo suggests that this promotion will increase short term and long term author revenue in the email templates category.

In addition to being high quality and multi purpose, email templates have broad appeal (almost every website I visit has a newsletter), yet email templates are a relatively small category on the marketplaces.

How Are We Promoting It?

We’re only using one day of header bar. We’re also promoting this via newsletters, search ads, display banners, social networks, and affiliates. Tuts+ and Microlancer will be promoting this discount as well.

Will ThemeForest Turn into a Discount Marketplace?

No. Even if this test is successful, I don’t see us running these promotions for long periods of time, and I’d like to start using more off-site promotions and more triggered promotions. I can see a world where we promote occasional discounts for an even shorter period of time, maybe for one or two days at a time, with occasional longer promotions such as this one, and probably some form of bundles still. We’re working on new and helpful angles for bundles too, for example the next one will be focused on SXSW.

The plan for now is also to minimize the on-site discount messaging for these discounts. For example, the header bar for this one reads ‘500+ Templates and Tutorials Plus a Limited Time Discount’ rather than ‘Save 30% on Email Templates’

Why Are We Offering a Price Discount rather than a Credit Back?

In the past, we’ve run limited time discounts as a credit back. This one is different as we’re sharing the cost of the price drop with authors, which means authors will earn less per sale for the next 7 days. Why are we doing this?

  • Temporarily changing the price of a category is way easier to do in our system than offering a credit back. It allows developers to spend more time building more features rather than assist with marketing, and it helps us run more promotions like this if it is successful
  • Offering credits on a large scale is a manual process at multiple stages, which means the likelihood of something going wrong is relatively high
  • Offering a price drop rather than a credit back is more appealing to buyers

Feedback

How would you change marketplace promotions? Let me know here.

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pollyplummer says

If this is successful, what categories will you move on to next? Do you plan to include WordPress Themes in these marketing discounts somewhere down the road?

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jonathan01 says

I see you altered the dates – originally you posted from 4-7 feb.

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yomrholmes Envato team says

@pollyplummer – probably not WP themes as they would require ongoing support/updates

@jonathan01 – changed the dates on this post (whoops). Dates on the promo landing page and emails are the same: today through the 17th at noon AEDT.

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nutzumi says

ah I see,at first I thought it was about this topic Ongoing Pricing Tests. I think you should pin up this topic so the other can see. kinda excite what going to happen in this 7 days.:bashfulcute:

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jonathan01 says

@pollyplummer – probably not WP themes as they would require ongoing support/updates

All products require updates and support… while I agree that there is more demand for support with WP themes, there is still support to be given and updates to email templates (and HTML, Landing Pages etc etc) – could you possibly elaborate a little more on this reasoning?

@nutzumi surely this is related to the thread no? Am I missing something else? But yes this should be made sticky so authors are aware of the alterations to their files pricing.

Jonathan

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yomrholmes Envato team says

@jonathan01 relatively more support requirements on wp vs others

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doru says

running big discounts will not fix the drop in sales but just make a quick buck for envato on the short time.

we are continue to publish new and fresh items but this marketplace still joke around with changing fonts and button graphics.

Then there’s this fascination of the marketplace team with bundles, mini bundles, category discounts now with banners at the top that redirects user that lands on an item page..

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jonathan01 says

running big discounts will not fix the drop in sales but just make a quick buck for envato on the short time.

we are continue to publish new and fresh items but this marketplace still joke around with changing fonts and button graphics.

Then there’s this fascination of the marketplace team with bundles, mini bundles, category discounts now with banners at the top that redirects user that lands on an item page..

:)

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revaxarts says

I have no problem with the discount if we get some insights how it affects the behavior of the buyers.

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