50p per CD! Lowest Cost CD Ripping Service in the UK
Last weekend my wife and I went for a short break in Aldeburgh, Suffolk. On Wednesday, having overdone the walking the day before, I slipped my aching bones into the most comfortable sofa in the lounge of the Brudenell Hotel, fired up the laptop and set to answer the question that's been on my mind for a few weeks.
How low can we go? What's the cheapest CD ripping service we can offer?
If you reduce your price you massively eat into your profits. Will a lower price bring in more business? To be blunt how many people currently mailing their work to people charging 80p per CD will switch to mp3bymail.com instead?
Of course I don't know. But I have made a guess. Using Goodle Adwords I've quietly been running some adverts in specific areas. Loading that data into my spreadsheet the tradeoff quickly became apparent. Comparing the CD ripping business we're presently getting against advert hits, with the same data from the other areas, could we get three times as much business? As with any projection its an educated guess but yes, I think the volume of business is there.
Can we do the extra work, will our costs go through the roof? I knew the answer to that already. When I launched our mail-in CD ripping service I tested the volumes so that's not part of the guesswork. It requires our PCs to run overnight but the capacity is definitely there with electricity about the only additional overhead cost.
A couple of hours later, head clear, body rested, I had resolved to offer a shift in cost model. So yesterday we unveiled our new price - just 50p per CD. Exactly the same service, same high quality, same genre, album, artist and track data. Already we're seeing a fantastic increase in click through rates on our Google Adwords accounts. Music lovers are voting with their feet (or mouse clicks). 50p per CD - about to become the new standard in CD ripping services in the UK.
How low can we go? What's the cheapest CD ripping service we can offer?
If you reduce your price you massively eat into your profits. Will a lower price bring in more business? To be blunt how many people currently mailing their work to people charging 80p per CD will switch to mp3bymail.com instead?
Of course I don't know. But I have made a guess. Using Goodle Adwords I've quietly been running some adverts in specific areas. Loading that data into my spreadsheet the tradeoff quickly became apparent. Comparing the CD ripping business we're presently getting against advert hits, with the same data from the other areas, could we get three times as much business? As with any projection its an educated guess but yes, I think the volume of business is there.
Can we do the extra work, will our costs go through the roof? I knew the answer to that already. When I launched our mail-in CD ripping service I tested the volumes so that's not part of the guesswork. It requires our PCs to run overnight but the capacity is definitely there with electricity about the only additional overhead cost.
A couple of hours later, head clear, body rested, I had resolved to offer a shift in cost model. So yesterday we unveiled our new price - just 50p per CD. Exactly the same service, same high quality, same genre, album, artist and track data. Already we're seeing a fantastic increase in click through rates on our Google Adwords accounts. Music lovers are voting with their feet (or mouse clicks). 50p per CD - about to become the new standard in CD ripping services in the UK.
Labels: cd ripping, cd ripping service, data grooming, digital music, mp3, mp3bymail
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