On Pricing.
Posted 19th March 2012 at 02:51 PM by Adrian Int
There is something to be said for creating products with flaws. Offering different versions of the "same" product can often help you capture more sales without a ton of additional work putting it together.
I like to try to create an "economy", a "standard" and a "premium" option when I set out to create a new product. This lets you supply your stuff at multiple points on the demand curve, helping you to capture sales at the highest price a particular customer is willing to pay.
In doing it this way, you can leave less money on the table.
Were I you, I would consider doing this for your ecourse. Something like...
Economy: bare bones, drip fed.
Standard: whole package, drip fed.
Premium: whole package, bonus material, instant (full) access.
Depending on your particular niche one of those is likely going to be the clear winner. If it's the top-end, fantastic!
If it's the bottom-end, here's a word of warning... Don't remove your top-end offer.
Sometimes, the presence of a higher end option increases the perceived value of the low-end option. In other words... simply having a "BETTER" option can make the cheap option more successful.
Think of all the people who buy Ferrari or Porsche or Lamborghini vehicles.... Compare that to how many buy branded merchandise from those companies.
There would be no value in owning a baseball cap with a Porsche logo on it if the cars weren't so unattainable, right?
Cheers,
-Adrian In't Veldt
I like to try to create an "economy", a "standard" and a "premium" option when I set out to create a new product. This lets you supply your stuff at multiple points on the demand curve, helping you to capture sales at the highest price a particular customer is willing to pay.
In doing it this way, you can leave less money on the table.
Were I you, I would consider doing this for your ecourse. Something like...
Economy: bare bones, drip fed.
Standard: whole package, drip fed.
Premium: whole package, bonus material, instant (full) access.
Depending on your particular niche one of those is likely going to be the clear winner. If it's the top-end, fantastic!
If it's the bottom-end, here's a word of warning... Don't remove your top-end offer.
Sometimes, the presence of a higher end option increases the perceived value of the low-end option. In other words... simply having a "BETTER" option can make the cheap option more successful.
Think of all the people who buy Ferrari or Porsche or Lamborghini vehicles.... Compare that to how many buy branded merchandise from those companies.
There would be no value in owning a baseball cap with a Porsche logo on it if the cars weren't so unattainable, right?
Cheers,
-Adrian In't Veldt
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