Pricing - Newbie Question

by 11 comments
Ever since I got started in IM I have been wondering about how to set the prices of my products. And today when I was reading the thread about how long it takes to create a product, I started thinking again.

I have written two "real" books and they retail for 25 € (in Germany). They are between 550 and 600 pages, some photos, but mainly information (both books are travelguides).

Now I have written four ebooks in different niches, between 40 and 100 pages. I know they are not too crappy and i took me about a month to write each (I would love to be able to crank out a product in one weekend!!!). On the other hand it took me more than a year two write each of my books. And I have to update them on a regular basis.

Now I feel bad about charging 27 or 47 dollars for something that took so much less efford in creating it AND is not a tangible product. How do you justify those prices?

I would love to hear your thoughts on this topic!

By he way, I just love this forum: thanks for all the input, I might have learned more from reading the posts here than all the ebooks I have purchased!
#internet marketing #newbie #pricing #question
  • Profile picture of the author MaskedMarketer
    What people really want is access to the information you have. Just because its an ebook form and took you only a month to create does not mean it is not worth "xx". You should not feel bad about that.

    However, if you are feeling bad about charging such price, maybe your ebook is just not worth that price (information wise). You described your product as "not too crappy".

    Having said this, I would think you should improve the product, information wise to justify the price. Doesn't matter about how long it took you to create it or that its not tangible ( you can make it so if you want), but you want to at least have a product thats worth MORE than the price paid.

    Does that make sense?
    • Profile picture of the author Geolina
      Yes, it sure does make sense, thank you! That is what I was thinking as well, that the information has to be worth the price. But it is kind of hard to decide if it is. Quite a few of the ebooks I bought certainly disappointed me...

      But I guess you just have to be very critical with yourself. When you are publishing a book, your publisher will tell you if your text is not good enough. When producing an ebook you have to be your own quality management, I guess.

      Thank you for your thoughts!
  • Profile picture of the author ctutt
    You're not selling your time or effort. You ARE selling VALUE to your buyer.

    That means that if your one page article is worth $100.00 to someone even though it only took you a few moments to write, then so be it because your thoughts/ideas were the VALUE. The buyer will obviously, realize even greater value from YOUR idea or else they wouldn't have purchased it in the first place.

    Lesson for you: Learn to evaluate the VALUE of your thoughts and ideas. You may be able to "sell" them for far more than you imagined they were worth. :-)
    Charles Tutt
    • Profile picture of the author sylviad
      One good way to evaluate pricing is to look at other ebooks being sold in your genre, see how big they are, how they handle the topic, and how much they charge. If possible, see how many books they're selling and how long they've been on the market. Google the title and see how many pages you get back to see how popular it is.

      Consider the topic as well. If it requires a lot of research (either by you to write it or by your customers to locate the info themselves), then it will be extremely valuable. In that case, you can charge a higher price.

      Most important is to set your price and then over-deliver.

      In my experience, ebooks seem to average $37, $47 and $67. More technical or specialty info is usually much higher: $97 to $300 or more.

      Keep your reader in mind. You want them to be impressed with the quality and quantity of material they receive for their money. You want to sell them a $97 "value" for $67, for example.

      Value can be tough to lock down. Some products do not have the "perceived" value as other products.

      Hope this helps.


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