Does anyone here have Experience with eBook Pricing Strategies(?)

by x3xsolxdierx3x

Posted: 14 years ago 18 replies

INTERNET MARKETING

Hello, everyone,

....for the last 2 months, I have been writing a rather lengthy eBook, coupled with several complementary Guides, for a website platform that shares 75-90% of Google Adsense advertisement Revenue with it's users....

While the writing came easily to me, I am having difficulty deciding upon the best pricing strategy. My Partner and I are both the leading contributors/earners on this platform that now has over 5,000 members.....so, we believe that gives us a bit of flexibility with pricing....

If you need any more information about our project, or would like to see the actual eBook covers, just let me know....

Thank you to anyone who would be willing to help here! I'd love to throw some of my ideas out there and see what you all think....I'm not really an 'expert' in this arena by any means.....

thank you!
Howie

#ebook #experience #pricing #strategies

x3xsolxdierx3x 14 years ago

I have written several 100 pages, and all the writing will be dispersed over the main eBook, as well, as 5 complementary guides.....

How would everyone here price them? Would you set ONE price for an entire package? Would you set several price points?
- Thanks
- 1 reply
Signature

"the Next Squidoo, HubPages, Suite101, and eHow"
1,001 Free eBooks You Must Read to Succeed (at Just About Anything!)
"WritingTactics: Top Best Article Writing Online"
{{ DiscussionBoard.errors[1429465].message }}
- JohnMcCabe 14 years ago
  
  Warrior Paul Hancox has an excellent ebook on setting and testing prices, well worth your time, it sounds like.
  
  From what you've described here, I'm guessing you'll end up with maybe two or three packages. I'd start with
  
  > The full package, all guides included, the full boatload, for a fairly high price.
  > A "lite" version, maybe just the book itself or even an abridged version, for a smaller price.
  
  As I recall, Perry Marshall did something like this when he first released his Adwords guide. Seems to have worked out pretty well for him...
  
  Anyway, I'd start with Paul's ebook and go from there.
  
  Thanks
  
  {{ DiscussionBoard.errors[1429711].message }}

troy23

14 years ago

Yes $7 should do it

Thanks
1 reply

{{ DiscussionBoard.errors[1429719].message }}

Chris Pambos

14 years ago

Ebook - $19 - $47
Transcripts, Audio, MP3, CD's - $97
DVD Course - $197 - $297
Home Study Multimedia - $497 - $997
Seminal and (ACL Learning Programs) - $497 - $5,000
Group Coaching / Workshops - $2,500 - $20,000

Thanks
1 reply

Signature

I talk about business and marketing stuff at SimpleMarketingPlan.com and ramble on about life and random things at ChrisPambos.com

[WSO] Steal this trick - The #1 secret to UNLIMITED free traffic
[WSO] How To Create 30 Second YouTube Videos That Make Money
[WSO] [LIVE Proof Inside] $7,645.69 /month - Discover How To Make $150+ /day

{{ DiscussionBoard.errors[1430168].message }}

Brad Spencer

14 years ago

Originally Posted by Chris Pambos

Based on what theory?

Pricing is determined by the marketplace.

Nothing else.

If it sells, it's a good price...if it doesn't it's a bad price.

This kind of stuff is why people end up paying 50 grand for stuff they could've gotten for a few hundred by being smarter. Arbitrary pricing strategy is worthless....

To the OP-

Based on what you describe, have you ever thought of packaging these ebooks in a lite version (already talked about by JohnMcCabe) but then instead of offering everything else at a super high price why not test each product individually out to see what sells.

Many marketers in my circle have lots of lower end stuff that they use to generate buyers and then they sell other products. Selling a bunch of stuff together can work...but one problem=one solution marketing is the way to go...keep it simple.

Plus, as a writer/product creator myself, why are you writing a huge ebook??? Most people don't read all that stuff to be honest and if it takes 50-100 pages to teach it then have you really really simplified it down?

One of my favorite quotes is "simplicity is the ultimate sophistication" by *I think* Albert Einstein.

Cheers and Best Wishes,

Brad Spencer

Thanks
2 replies

Signature

Mad PLR Secrets: Turn Your Dusty PLR Into Cash Machines

Product Creation Roadmap- Profit From WSOs and Niche Clickbank Products
PLR Cash Creators: Crush It Creating PLR For Warriors

{{ DiscussionBoard.errors[1430690].message }}

x3xsolxdierx3x

14 years ago

Thank you for all the responses everyone!....

.....to ADD a little more background on the project, I have written my eBook, and several complementary guides, about on online revenue sharing platform that offers users 75-90% of Adsense revenue share for all articles/content submitted (similar to eHow and Squidoo, but better IMHO...)

With over 400+ articles written, and submitted, to this platform, my eBook partner and I are the top 2 leading contributors on this platform, with well over 5,000 members currently.

Our eBook will be the first to 'market' on this platform, and is already being regarded as the "Bible" for this platform....I do speak to the owners frequently, they love the idea, and will be using the platform's internal blog interface to promote it to its users...

Here is what products we have, that we are exploring different ways to package............My question is........How would YOU package these?

1) Our Main eBook (100-150 pages)
2) Overcoming Writer's Block Guide
3) Problem article troubleshooting Guide
4) an SEO Guide
5) an LSI/LSA (Latent Semantic Indexing) Guide
6) a Resources/Toolkit Guide

....these have all been written, well, except we are adding a bit more to our Main eBook.....

How would YOU package these? .....I'd like to share some of my thoughts, for packaging, if you all wouldn't mind.....I'm considering utilizing some of these as an UPSELL, as well....

Thanks
1 reply

Signature

"the Next Squidoo, HubPages, Suite101, and eHow"
1,001 Free eBooks You Must Read to Succeed (at Just About Anything!)
"WritingTactics: Top Best Article Writing Online"

{{ DiscussionBoard.errors[1430754].message }}

Dan C. Rinnert

14 years ago

Originally Posted by x3xsolxdierx3x

1) Our Main eBook (100-150 pages)
2) Overcoming Writer's Block Guide
3) Problem article troubleshooting Guide
4) an SEO Guide
5) an LSI/LSA (Latent Semantic Indexing) Guide
6) a Resources/Toolkit Guide

....these have all been written, well, except we are adding a bit more to our Main eBook.....

How would YOU package these? .....I'd like to share some of my thoughts, for packaging, if you all wouldn't mind.....I'm considering utilizing some of these as an UPSELL, as well....

It seems to me that #2 would be a good one to give away to as a promotional tool to build your list and promote the main product.

Then, #1 plus one of the others could be your main package. Then use the remaining books as upsells or add-ons.

Thanks
1 reply

Signature

Dan's content is irregularly read by handfuls of people. Join the elite few by reading his blog: dcrBlogs.com, following him on Twitter: dcrTweets.com or reading his fiction: dcrWrites.com but NOT by Clicking Here!

Dan also writes content for hire, but you can't afford him anyway.

{{ DiscussionBoard.errors[1430765].message }}

x3xsolxdierx3x

14 years ago

Originally Posted by Dan C. Rinnert

Thank you, Dan!

....this is tricky....lol

....the best thing I've figured to do is to associate a value with each individual....because of the specialized knowledge and aggregation of content, I really think the main eBook should be priced no less than $39.99....

Thanks
1 reply

Signature

"the Next Squidoo, HubPages, Suite101, and eHow"
1,001 Free eBooks You Must Read to Succeed (at Just About Anything!)
"WritingTactics: Top Best Article Writing Online"

{{ DiscussionBoard.errors[1431022].message }}

SimonHodgkinson 14 years ago

In particular, you should be paying attention to the top sellers in your niche.

What are they charging?

And the other question you need to ask yourself is

WHY are they charging that particular price?

Some people will charge low to get bargain shoppers.

Others will price high because it increases the perceived value of the product and attracts serious buyers.

Keep in mind, however, that you can go too high and drive off all buyers because they can't afford it or they don't see the value in your offer. You can also price too low - when a good product is priced low, people sometimes assume the product is better suited to a junkyard than on their virtual shelves.

The bottom line:

No matter what price point you choose, be sure to justify the price and show the value of the offer.

Of course, prices aren't set in stone...
Look for price gaps in your market

While you're browsing around your competitors' sites, keep an eye out for price gaps in your niche market.

For example, you may find that most of the downloadable products in your niche range from $7 to $27, and then the prices jump to the $197 to $247 range.

That means there is an opening for a savvy marketer to develop products in the $67 to $127 price range and beat out the competition!

Tip: Price gaps usually indicate that a segment of the market is NOT being served. In the example above, you'd likely find that there are plenty of products targeting beginners and experts, but very few serving those needing intermediate-level content. As such, anyone seeking to dominate intermediate-level products ($67 to $127) wouldn't have a problem doing so!

Split test a variety of prices

Once you've made your best guess about what price points will work best for you, start split testing them. The only way to know for sure which price is most profitable for you is to let your customers vote with their wallets.
- Thanks
- 1 reply
{{ DiscussionBoard.errors[1431056].message }}
- SimonHodgkinson 14 years ago
  
  Maybe the idea of determining a single price point is driving you crazy.
  
  Perhaps market research reveals such a big price range that you'll end up more confused than if you didn't research at all. (been there and done that)
  
  Indeed, pricing jitters can make anyone more nervous than a long tail cat in a room full of rocking chairs! :-)
  
  But no worries...
  
  In order to ease your jitters and grab a bigger market share, all you have to do is set up different offers/access points
  
  For example, you can set up basic reports, intermediate and advanced packages based on your existing content.
  
  Each price point will find it's own customers just be sure that you're always working to "upgrade" your buyers to the advanced materials.
  
  And yes split test each price group too
  
  Did I mention split testing ;-)
  
  Simon
  
  Thanks
  
  {{ DiscussionBoard.errors[1431073].message }}

Chris Pambos

14 years ago

Originally Posted by Brad Spencer

Based on what theory?

Based on what is time tested and proven to work in the 'MMO' niche.

Thanks
1 reply

Signature

{{ DiscussionBoard.errors[1432281].message }}

Paul Myers

14 years ago

Chris,

Based on what is time tested and proven to work in the 'MMO' niche.

Cite, please?

We're familiar with the experience of John, Brad, Dan and Simon. What's your experience? On what do you really base your claim?

Paul

Thanks
1 reply

Signature

.
Stop by Paul's Pub - my little hangout on Facebook.

{{ DiscussionBoard.errors[1432295].message }}

SimonHodgkinson

14 years ago

Here's why everybody should split test prices
(sorry I don't have all data to hand)

But this is based on sales of a single ebook where we ran 4,000 tests with price points at $17 and $37 and then offered a fixed upsell at $97 behind the initial offer

Path: Visited Sales Page> Clicked Buy Button > Completed Order > Bought Upsell

2,013 $17 > Clicked buy button 6.06% > 22.9% Completed Order > 14.28% Upsell Buy
2,035 $37 > Clicked buy button 4.18% > 18.8% Completed Order > 12.5% Upsell Buy

Results:
Price point $17 - Visitor Value = $0.43
Price point $37 - Visitor Value = $0.38

@ $17 the visitor value increased by $0.05 (all traffic)

For same number of visitors we made extra $78 (+10% increase in revenue)

For same number of visitors we added extra 12 buyers to our list
(that's a 75% increase in customers on our list)

Take-Away:
If you're generating $100K per year split testing your price points like this could give you an extra $10K per year in additional revenue - (It would also add a whopping 75% more buyers to your list)

If you aren't testing price points and just copying what is "assumed" to be the right market price based on 'what everyone else does' then you're leaving money on the table.

Simon

[ 2 ] Thanks
1 reply

{{ DiscussionBoard.errors[1432362].message }}

Paul Myers

14 years ago

Simon,

Well, wuddya know? A marketer who can do math! **

Folks, that post is worth more than most products you've bought this year, if you're not testing things already. (BTW, I suspect that the increase in total income is much greater when you factor in that enormous change in the number of paying customers....)

Paul

** Sorry, Simon. I couldn't resist.

Thanks
1 reply

Signature

.
Stop by Paul's Pub - my little hangout on Facebook.

{{ DiscussionBoard.errors[1432385].message }}

SimonHodgkinson

14 years ago

Originally Posted by Paul Myers

(BTW, I suspect that the increase in total income is much greater when you factor in that enormous change in the number of paying customers....)

That's for sure - and it's how I can afford to pay for someone to scatter rose petals in front of me everywhere I walk ;-)

Oh and BTW I outsource the Math too LOL

Thanks
1 reply

{{ DiscussionBoard.errors[1432412].message }}

Paul Myers

14 years ago

Simon,

Oh and BTW I outsource the Math too LOL

[splorf!]

Suggestion: Next time, try the test with $27 up front, and $77 on the back-end offer. I'll bet you a bottle of Glenlivet it kicks the visitor value up at least 3 cents, if not as much as 6.

Paul

Thanks
1 reply

Signature

.
Stop by Paul's Pub - my little hangout on Facebook.

{{ DiscussionBoard.errors[1432433].message }}

SimonHodgkinson

14 years ago

Originally Posted by Paul Myers

Simon,[splorf!]

Suggestion: Next time, try the test with $27 up front, and $77 on the back-end offer. I'll bet you a bottle of Glenlivet it kicks the visitor value up at least 3 cents, if not as much as 6.

Paul

I'll put a bottle of XXV on this weeks shopping list then

I noted on their site it says "The final finish in rare ex-sherry butts"

Which sounds about right, but that's no way to speak about their customers is it?

Simon

Thanks
1 reply

{{ DiscussionBoard.errors[1432481].message }}

Paul Myers 14 years ago

Simon,

I noted on their site it says "The final finish in rare ex-sherry butts"

Which sounds about right, but that's no way to speak about their customers is it?

[chuckle]

I don't know who 'Sherry' is, but a bottle of Glen can easily put a rare finish on my butt!

Paul
- Thanks
Signature

.
Stop by Paul's Pub - my little hangout on Facebook.
{{ DiscussionBoard.errors[1432494].message }}

Does anyone here have Experience with eBook Pricing Strategies(?)

Trending Topics

Been a while! Any of you Old Timers here?

How much does the rebranding affect CR ?

Clickbank low cost recurring

Boat and Jet Ski Rentals...... Door Hangers Effective?

Are billboards still effective in driving customers?