ClickBankSuccessForum.com

CBpro · Joined: 10 Jun 2004 Posts: 189

IMO, the total amount to be paid (shown over the CB ordering form) in user's currency may reduce conversion rates. Especially now when the US $ is getting stronger. An item priced US$19.99 looks more attractive (cheaper) then the automatically converted AU$34.79 or NZ$38.79 etc.

Opinions anyone?
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Harvey Segal · Site Admin Joined: 23 Mar 2004 Posts: 2343

Interesting topic

You might also like to follow this thread

http://www.warriorforum.com/main-internet-marketing-discussion-forum/23635-people-who-have-bought-clickbank-past-few-days.html

Harvey

CBpro · Joined: 10 Jun 2004 Posts: 189

Thanks for the link Harvey. Exactly what i thought. This has the potential to negatively affect sales.

Items "look" too expensive all of a sudden. Hope they get rid of this feature or at least not make it auto convert by default.
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thatlazyguy · Posted: Tue Oct 28, 2008 5:55 am Post subject:

Not only does it make 'look' more expensive, I tested some currency conversions that CB displays and they are way off mark. For instance a $47 USD product looks like this:

ClickBank for $47 USD product shows $90.37 in New Zealand Dollars (NZD) at payment page.

I converted 47 USD into NZD at http://www.xe.com: 47.00 USD = 85.4508 NZD

Now, www.xe.com is probably the most reliable converter out there. That’s a difference of $4.92.

This may not look like much but pro IM marketers know the effect of pricing on conversion. There’s a reason why we price at $39.95 or $47.00. Having uncontrolled pricing displayed at order page just blows conversion away. It doesn’t matter if the sales page states $39.95, etc. The order page is highly critical. I know it’s affecting my conversion.

samstephens · Joined: 09 Apr 2005 Posts: 317 Location: Australia

I'm a little worried about losing the "psychological pricing point" as well.

Though the conversion rates are pretty well right - remember that the default conversion rates you get on sites like xe.com are usually the "interbank rate", which is actually different to the conversion rates which will be something like the cash rate, which is more "expensive".

http://www.oanda.com/convert/classic

This has the different rates in a drop download box.

Hope this helps!

cheers
Sam
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Harvey Segal · Site Admin Joined: 23 Mar 2004 Posts: 2343

I asked ClickBank to clarify some points e.g the
meaning of default currency and here is their reply

"We implemented the ClickBank multi-currency order form to display currency based on the
consumer location to improve conversions. The converted amount a consumer sees on the
ClickBank order form is comparable to what they would pay by purchasing in USD and having
their credit card bank convert and mark-up the price into their local currency.

Any transaction involving a currency conversion is completed at a daily adjusted foreign
exchange rate determined by ClickBank. This exchange rate is higher than the wholesale
interbank rate to cover the costs of obtaining and managing the currency. As a result, the
exchange rate used at the time of purchase is guaranteed for the publisher, affiliate, and
consumer for the lifecycle of the transaction.

Please note the currency of purchase does not affect the amount of USD credited to your
ClickBank account for the sale. This amount is always based on your product's default
currency price (so if your product is default priced in USD, you will always earn the same
amount regardless of what currency the consumer selects).

Order form conversion rates generally improve when consumers are shown a price in their
local currency at check out. However, some publishers may prefer to have the default
currency selected for a product show for all consumers, regardless of location. This is
also possible. If you would like the currency conversion capability disabled for your
account(s), please contact ClickBank customer service
(http://www.clickbank.com/publisherquestion.html), and they can help you.

If you choose to have customer service disable the currency conversion feature in your
account, you can still offer products in different currencies. In this case, you simply
set up a unique product for each currency you wish to accept. For example, if you want to
offer the same e-book in USD and GBP, you can set up two separate products in the "My
Products" section of your account. Set up product 1 with a default currency of USD, and
product 2 with a default currency of GBP. When a consumer clicks a payment link for
product 1, they are shown the order form in USD at the price specified for product 1. If
they click a payment link for product 2, they see the GBP price specified for product 2.
In both cases, the consumer will not have the ability to choose a different currency for
payment.

Please don't hesitate to contact ClickBank customer support
(http://www.clickbank.com/publisherquestion.html) if you have further questions or
concerns."

JamesAndrew · Joined: 22 Sep 2008 Posts: 7

Useful information, I'm planning to create my account and this could me a lot.
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Bootcamp fitness · Joined: 23 Jan 2007 Posts: 8

Harvey Segal · Site Admin Joined: 23 Mar 2004 Posts: 2343

CBpro · Joined: 10 Jun 2004 Posts: 189

After analysing stats for a number of days now i can conclude that this recent change does not help much with Affiliate sales. Quite the contrary it has a very noticeable negative affect.

I just hope the US $ does not remain high for too long or that all CB merchants switch to displaying the currency in US $ only (over the ordering form) as soon as possible.

I just checked a number of products and by the time i reached the CB ordering form the AU$ auto converted amount looked very expensive. It would have discouraged me from buying or at least give many second thoughts. NO GOOD.
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thatlazyguy · Posted: Sun Nov 02, 2008 11:36 am Post subject:

I second that, Cbpro.

I’ve got a parallel site to which I have at CB. Basically I sell the exact same product using another site so I can test different things without changing things at my CB site. I tested that parallel site which uses paypal, with US currency for 36 hours and then Australian currency (equivalent to US) for 36 hours. There was been a significant drop in sales.

This site is pretty consistent with sales, have been for past 4 years. I know this result is not conclusive as there "could" have been other factors such as changes in economy within 36 hours...but the only change I made was the currency.

I just could not afford to test it any longer as I was losing money, and have reverted back to US dollars. The US dollar is just too strong against most others and it is hurting conversion, in my opinion.

Bootcamp fitness · Joined: 23 Jan 2007 Posts: 8

hi
I had multicurrency disabled...now I am wondering if I should leave the option to allow the customer the opportunity to select the currency of their choice once they reach the order form.
any opinions?
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CBpro · Joined: 10 Jun 2004 Posts: 189

CBpro · Joined: 10 Jun 2004 Posts: 189

Should have added above:

Particularly now, the US$ is very strong against many other currencies. It makes the numbers on screen (ordering form) look really big and expensive when auto converted. I am in Australia and i can tell you that it is definitely not a pretty sight. The price "looks" much better in US$.
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