In your opinion is it possible to charge between 1 and 4 thousand per sale?

Really Nina we can charge any price for anything - within some reasonable frame - but it depends on you getting clear with the price. If you feel OK around the price, and worry not if it is either too much or too little, it will sell. Not sure of Paypal's cut off though. I'd go high end. Charge generously and follow up with a generous product or service.

Note; it so helps to 5 and dime *and* charge bigger ticket prices for more robust products. This keeps cash flowing in through all channels. Smaller fry budget folks will buy the dime deals or dollar deals, boosting your cash flow and the big whales will purchase the bigger ticket items. Combine the 2 to diversify your income, and to dissolve your attachments to any one income stream.

Ryan

I agree with everything Ryan said.

I would also add that from personal experience the biggest drawback to high priced products are the tendency for customers to want refunds.

Sure; sell used cars.

Really depends on what you're selling, how you're selling it. If you are solving a big enough problem to justify the price then sure, it will sell.

High end products are no more difficult to sell than low-end products. If you're talking in the region of $4000+ for your products, it will not be too easy for someone to just grab their credit cards and purchase.

The most effective way to get them to find value in your product and subsequently purchase is to set up a stage in your sales funnel where you get to talk to them real time. Once all their questions have been answered they will feel more confident for the purchase.

Even if Paypal may have a cut off limit (which, to my knowledge is $9999), the customer will not find it a hassle to walk to his bank for a T/T.

Way back in Jan. 1999 I paid Bill Myers $1,000.00 bux to join his IDEA BANK private membership site. I believe there were about 75 members. Nice way to start your year, a quick 75,000 bucks in your bank account.

BUT, he had to fulfill for the whole year (which he did and we more than got our money's worth from it).

Have you factored in YOUR time needed to fulfill? Often, a higher priced product, especially a membership site, creates an obligation you face for a long period of time. So, at the end of the day, maybe the nickle and dime strategy might be better suited????

I've had both. I consider the long term (or did when I was active). What is the LIFETIME VALUE of CUSTOMER. I've created over 64 information products, some very nickle and dime, low end, only 14.95 or 19.95 and some of those have sold for over a decade and the LTV of a customer is into that sweet zone you talk about, but it may take 4 to 5 years for any given customer to get there.

It should be about your time. Can you automate a 4k membership? Of course it can be done, many gurus are doing it. It may take you awhile to reach that status, but it also has to do with the market. Guys who do Forex or play the lotto, may be inclined to invest larger amounts of moolah for a higher return.

Knowing what I know, I'd still split my product and time, giving about 40% to high end customers and 40% to Automated Income Systems, albeit, of the "nickle and dime" variety. I've sold one report for over 18 years, and it has never required the maintenance and time that a 2500 dollar member has required.

Hope this is some food for thought.

GordonJ

Yes, you can package up that much value and sell it. There's a big learning curve to doing business online. Be determined, disciplined, dedicated and stick to it. As you do, remember that your biggest asset is you, yourself. Keep working on your own personal growth as you work toward that kind of business startup and you'll become the person you need to be to succeed at it. One little bit at a time!

If you actually could provide a membership worth more than a grand, you wouldn't be asking this question.

Excellent business thinking...don't forget us when you're a millionaire.

In my experience, people who have $4k to spend...have it because they don't toss money away. It's easy to over analyze what you think your customers WILL think.

From 1k to 4k is a significant jump. If you have a reputation in the field, if you have branded yourself as someone who knows the subject well...the price may be workable.

You are right - you can test the concept at various price points and the market will tell you which, if any, they will buy. You can also charge a lower fee and add upsells and downsells and premium membership, etc. You won't know until you try.