I need help with product pricing

Your pricing seems reasonable, Having seen some of the $1997 products out there I believe pricing is very difficult to judge too cheap and people think it is cheap.

I will be interested in seeing what the more experienced product creators have to say about this.

Here's what I do:

1. I come up with a price in Pounds Sterling (my local currency) that I think is very fair
2. I remove the £ and replace it with a $
3. I then half the USD price

This generally works well for me.

Of course, I will tweak a price up or down if the conversions are not right, until I find the best price point.

Will

What is your competition doing? Is the coaching
one-to-one or one-to-many?

I wouldn't go over $97 for a one-to-many coaching
program. $9.99 seems to cheap for an ongoing membership.

Tyrus

Hi,
How to get internet marketting.

Hi there, I actually wouldn't price yourself too low. I'm concerned at how you suggest dropping to under $10 a month. As long as the content you provide is extremely valuable I would think that $10 for that is too low.

I wouldn't be too scared for offering quality content for a good price. For example I bought a site/product where the product being sold originally was $37 a month. I expanded the product and created a much more expansive offer with over 30 additional videos etc and it sells in the relationship repair niche at $97. Prior to putting the higher price product up there I spoke with some marketers who told me people wouldn't pay that and I can tell you for a fact that people do and people find it very valuable for the price -- in fact it outsells the $47 offer by far.

Regards

Colleen

A quick lesson in pricing which was given to me by a famous dude long ago :

1) You price the product at the highest price you feel you can sell it for whilst returning the best profit (You might make 10 times more sales at $49 then at $59 for example)

2) Nobody gets pricing perfectly right, its a little guesswork. This is why big companies offer multiple prices and levels and simply drop the less popuar ones.

3) research your competition, why you are different and why people will buy from you. Make sure that justifies the price you wish to set...

So, my advice is to test different prices. You may be able to sell a $1000/month more personal coaching package with some bonuses, you may also be able to sell the mass coaching product at the price you state, but offer 2 more options, one slightly higher and one slightly lower so that you know which one really sells the best.

This is why most marketers offer and upsell (OTO) then a lower priced upsell (again OTO) so they can test multiple prices.

In your niche as you mention Vince Del Monte an Joel Marion, probably is fitness niche. Vince has launched a digital coaching program some while ago and I think you paid around 29 dollars for it. Probably would have an up sell behind it. He had the same program whit i product he sent to your home address and than it was $69 a month. Depending on what exactly your going to do you have a price range now. If you give coaching one on one you could go as far as 97 a month, if you do group coaching stay around the 67, and try also with different landing page the 97 price range or anything in between. Just look at what converse best.

I think $87 per month is perfectly reasonable for live weekly calls. As long as you don't breach the $100 barrier, and you're offering valuable, high-quality content and the opportunity for your members to interact live with you, then I think that price point would be very good value for someone who's serious about improving their fitness.

I'd raise your $9.95 price point to somewhere between $15-$20 monthly though (after the first 2 months), as you may be undervaluing what you're offering by pricing it so low. It may cause many people to perceive the continuity program as being something that doesn't have a lot to offer, which I'm sure isn't the case.

Paul