Pricing?

Hi Jack

I wrote a 90+ page report on this subject. My short answer would be, Buy my report... unless you want my reply to be 90 pages

A longer answer would be...

There is no simple answer. $7 is a reasonable price for some, and so is Frank Kern's $1,997 Mass Control product, for those who purchased it and found it worthwhile. Marketing Sherpa sell their PDF reports for $197 - $497, and while many marketers might find that expensive, their target audience is CEO's, who are perhaps more used to those price points. To them, $497 is reasonable.

So it depends partly on your audience, and what they're used to, can afford, and are willing to pay.

It also depends on what the material is worth to your audience. Do you have a system that can potentially save them thousands in PPC costs? You can justify the cost based on the value of the material to them. A $497 spend on a PDF document may be reasonable to a CEO if they can justify the expense. On the other hand, an out-of-work person who is maxed out on their credit cards might find $7 hard to justify to themselves.

It also depends on what you want to achieve with your product. If its an entry product for part of a larger marketing funnel, then you might want to price it "low" simply so you can draw people into your funnel, and then sell them higher priced products. I'm sure David DeAngelo could charge much more than $19.95 for his Double Your Dating ebook, but he doesn't... because he wants people to join his marketing funnel, and so sell them $300, $400 and $500 products.

Also, it's not always the case that increasing your price will decrease your sales - in fact, it's often the opposite (at least to a certain point), especially for digital products.

The only one who can determine your best price is yourself through testing (as you said) and also determining in advance what you're trying to achieve with your price, but make sure you understand all the factors you need to consider before you determine your price - I've given you a few of them here.