Determining the Price Point for Your Products
7. Determining the Price Point
for Your Products
A lot of people have asked me, “If
I make a digital product, how much
should I sell it for?”
The answer to this can be quite
complicated, but let’s say for
instance that you are a new
marketer
and are giving this “internet
marketing thing” a go just for the
fun of it.
Let’s assume that you want to
create a basic ebook about looking
after your cat. You’ve been able
to research your subject and
create a 30 to 50 page report on
the basics and have compiled your
ebook in PDF format.
Further to this you’ve hired a
professional artist to draw up
covers for your new project, and
you’ve
put together a compelling sales
page. After testing your sites
headlines, you are ready to launch
your product into the marketplace.
With everything in place, you’re
ready to go. How much should you
sell it for? Here are my tips:
1. Check out other websites for
ebooks of similar subject or
content. You may find an ebook
relating to dogs has a similar
approach to your cat ebook. I’d
suggest price them similarly.
2. Compare your product with
products in the same niche to
determine if the market is already
saturated. I’ve assumed that you
performed this check prior to
writing the ebook, as this is how
you
make larger profits. It has been
said, “Go where the fish are
biting.” If you produce a product
that is
not a hot seller, it won’t matter
about the content that you’ve
written, you won’t be able to sell
it.
3. Make your sales pages
professional. It’s really the
sales page that is selling your
e-product, not
your product itself. If your sales
pages look “cheap” then expect to
put a “cheap” price tag on your
product.
There are several ways to
ensure that your site catches the
eye, namely:
a) Make it simple
b) Draw your reader’s attention to
just one product, don’t leave
flashing banners all over it
c) Test your headlines to
determine the best performing
headline
d) Ensure that your cover graphics
are best looking, else people get
turned off.
As a rule of thumb, basic
ebooks (30 to 50 pages) are priced
around $17, specialty ebooks are
priced around $27 to 47, and
ebooks with advanced information
(or scarce information) are priced
upwards above $47 to $97. You’ll
need to determine how much you’d
be prepared to ask for Resell
Rights or Master Resell Rights,
and work this into your expected
capital return on your
product.
