Pricing Your eBook - How To Get Higher Prices
How do you know what price is best for your ebook or information product package? If you price your ebook too high, you risk slowing sales and your business underperforms, if you price it too low, you are not only leaving dollars on the table, but you are providing an opening for your competition to take the higher end of your market. SECRET TO EBOOK PRICINGWhen you consider pricing your information product, typically you ask yourself "what can I get for this ebook or ebook idea?" Right away, by looking at ebook pricing from that perspective, you are limiting yourself to what you have in mind for your current idea or current information product - you can do MUCH better... Instead, try asking yourself this question, "How do I get a price of $X for my information product?" The question "what can I get" forces you into a scarcity consideration with a built-in limitation. While the question "How do I get price $X" opens the possibilities wide to small changes you could make to your business that would get you a far better price and profit margin. How do you come up with price $X. For that, you need to set some goals and have a very rough busines case in mind. Work backwards from a yearly profit goal until you understand how many information products you will need to sell at specific prices until you realize your goals. HOW TO GET MORE FOR YOUR
EBOOK OR INFOPRODUCT`Here are 4 tips to help you decide on your ebook pricing, notice that the emphasis is on getting more, not less for your ebooks. Ebook Pricing Tip#1: What are your competitors doing. Ideally you will find that most of your competitors are selling for about your current price or below - but typically you can find a few that have higher-end products, selling them for more. Study these and find out what makes their product different. Ebook Pricing Tip#2 Have you indentified the real "point of pain" or desire you are targeting within your market? For example, is it "Prestige of having your neighbor or mother (or mother in-law!) walk into your home and say WOW!" or is it "Spend 1-hour instead of 4 cleaning your house so you have more time to enjoy yourself", etc...
If you can focus in on the "hot button" emotion that drives people to want new cleaning techniques then that should be both be reflected in the title of your book as well as your headline and sales copy - that will allow you to price your product higher. Ebook Pricing Tip#3 - what is your angle? In the cleaning information products space I've seen one successful author's angle being a "funny" or "entertaining" cleaning approach. In another case I recall seeing a book on how to get your whole family to pitch in making your life easier - each of these have their own "angle" or to quote the overused term - unique value proposition. Ebook Pricing Tip#4: Consider re-package your material into a combined audio/written package and get even more for it. Ideas for audios might be an expert in organization - there are lots of consultants out there that would happily do a 30-minute interview with them that they could in-turn market to their local customer while you get it as part of your product. Another idea would be to organize a tip sheet of little known cleaners (club soda, vinegar, etc...) and add that as a special report bonus. Bottom line is that there are always ways for you to raise your price, its just a matter of hitting the right pain points, coming up with your own unique angle and then bumping up the perceived value of your package through a combination of great sales letter with a multi-product bundle.
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