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Working out the right price for your ebook?

by Melani
10 replies
Hi Warriors,

I realise this question has probably been asked a fair bit, so I appologize for bringing it up again. I did some searches but couldn't find what I was after exactly.

For those that read my other post, I got involved with a so called Guru to create a product to market and live rich from. He didn't hold up his end, yadda yadda yadda, and now I've got a product that I put a lot of work into, think it's fairly good and would like to use to recoup some of my lost savings.

Part of the deal with the guy involved was assistance with everything - including pricing the ebook. As he didn't help with that, I had to some what guess the price. I did some research to help me, but I'm still not sure if it's the right price.

I've been getting some hits to the website I created, but so far no sales. So naturally I start to question if I might have priced it too high?

The PDF is 80 pages long, with 19,855 words. I packed as much as I could in, so it's not like the pages only have a few paragraphs on them or are taken up mostly by images. There are images used to further explain my points however.

I read that you price it based on the demand etc, but I'm not sure how to find out the demand for the Niche I covered. I read other sites that tell you to price it on the number of pages, which is what I ended up doing.

Does any have any other advice?
#ebook #price #working
  • Profile picture of the author monopuff
    Take a look through the clickbank marketplace and see what similar products are selling for.
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    • Profile picture of the author whateverpedia
      Originally Posted by monopuff View Post

      Take a look through the clickbank marketplace and see what similar products are selling for.
      After that sell for a bit cheaper than them, or charge the same price, but offer more value ie bonuses etc.
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    • Profile picture of the author RentItNow
      Originally Posted by monopuff View Post

      Take a look through the clickbank marketplace and see what similar products are selling for.
      I don't necessarily agree with this. You always want to stand out from the herd. I have an electronics book that I paid $100 that matches the same page count as others that go for $25 but the content is WELL worth the extra $75!
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      I have no agenda but to help those in the same situation. This I feel will pay the bills.
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      • Profile picture of the author Glassjaw009
        RentItNow,

        Your avatar has inspired mine. Good day to you sir.
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  • Profile picture of the author RentItNow
    My ebook sold substantially better at a higher price. The other thing I did is offered the buyer different options (all digital, or digital + printed forms or all digital and all printed) which is when I discovered the secret, my market wanted the forms as a hardcopy and was willing to pay a much higher price. So don't always assume people are not buying because it is priced too high. There may be several reasons for it not selling including wrong format or you have not built enough trust with them to pay your higher premium.
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    I have no agenda but to help those in the same situation. This I feel will pay the bills.
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  • Profile picture of the author Glassjaw009
    Melani,

    This is always a hard subject. Pricing is difficult for a few reasons. First of all, you don't want to overcharge people, secondly, you don't want to scare them away from buying your product if the price is too high (most people will pay for it if they feel it's going to be useful to them, however there ARE a lot of scammers out there and they're afraid of this...as they should be).

    Personally, I always price my Ebooks extremely low because by doing so:

    1) I help people out for a low cost.
    2) I gain reputation on the forum or wherever your product is listed.
    3) People review your product positively if it's an excellent buy for the money.

    Overall, I think reputation is more important than a few more dollars, so I always try to give my WSOs or whatever away at the lowest price I can.

    my pricing guidelines to you would be:

    1) can the product be used by anybody? if so, that's a higher price characteristic.
    2) has the product made you enough money to cover the cost of the product? higher price.
    3) are you willing to take some refunds? if so, higher price, if not...lower price
    4) ask yourself if you'd be satisifed with the product for the price you list it at.

    I apologize that I can't go into full detail and say "you should sell it for X dollars" but i don't have a copy of your product, I don't know who you're targeting, and so forth. Hope this helps, but if it doesn't...at least I tried!
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  • Profile picture of the author Christophe Young
    Drive traffic to it and test the following prices; $27, $37, and $47. Choose the winner.
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  • Profile picture of the author Melani
    Thanks for the feedback so far!

    I checked Clickbank marketplace, and as far as I can tell I'm at the lower end of the spectrum. Most seem to sit around the $27 mark, with a few a little higher. Mine is priced at $19.95

    So far it's not really listed anywhere other than the Clickbank marketplace and my own blog. I've mentioned it once or twice on Twitter as well. Originally it was going to be promoted by these massive lists, so there was no focus put on promoting it.

    1) can the product be used by anybody? if so, that's a higher price characteristic.
    2) has the product made you enough money to cover the cost of the product? higher price.
    3) are you willing to take some refunds? if so, higher price, if not...lower price
    4) ask yourself if you'd be satisifed with the product for the price you list it at.
    1) I think so yes. I included everything so no one was left with any questions. It's a real step-by-step approach that starts at picking a domain and ends with a completely set up finished product.

    2) So far I've made no money lol. So no, haven't recouped any costs as yet.

    3) As much as they would bruise the ego a little bit (I'd hate to think someone wasn't satisfied with what I did), I naturally expect some refunds yes. I know you can't please everyone...

    4) I think I would be yes. I'm my own worst critic and being that I just started, naturally assume that everyone else would obviously know better. But, I put every ounce of my knowledge into it, and it's based on something I've done full time for the past six years quite successfully. So I don't think it's bad...

    @John - thanks for the tip about providing a physical copy of it as well. I did consider that as I'm one of those people that like a full bookshelf hehe. The only thing with that is being in Australia, it could get quite costly to post it overseas which is where, I'm assuming, most of my business would come from.
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    • Profile picture of the author summer07
      Just a thought...with product creation, niche research always, always, always comes first if you want to make a profit. And a "guru" who flaked on you is suspect in my book...there's no guarantee that he chose a profitable topic to begin with.

      So...since this is your first digital product, use it as an experiment to learn about product creation and marketing, and move forward with your new knowledge.

      In the time you spend trying to find a "perfect price" for a product which has questionable niche research behind it, you could be doing solid research to find niches that have lots of demand, creating your own products and building on this experience.

      You will most likely learn a few things down the road that you can use to market this product more effectively in the future. You can always come back to it and make changes to the content, pricing or marketing strategy at a later date.

      One of my favorite internet marketing tidbits of advice is: "fail fast, fail forward".

      Hope this helps,
      Audre
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      • Profile picture of the author Melani
        Thanks Audre, that does help.

        When it all first started (the dealings with this guy involved), it was all based around the "make money from home and online" area. Everyone was creating their own products, but they all had to be around making money online so that we could cross promote similar products.

        As for Niche research... yeah no idea how much was done, but I sort of (naively) assumed it didn't matter as I too was trying desperately to make money with PPC and Affiliate Marketing. ie... making money online heh.

        I was told to make a list of 20 different ways to make money online and then pick one to write about basically. Thankfully I had already had experience with one of them, so naturally chose that as my avenue. (Membership sites basically).

        I guess I was more wanting to double check that I hadn't picked a stupid price more than a perfect one. With me on my own now, and never any feedback about price or other aspects as was originally promised, I'm now doing the checking myself to make sure it's all ok.
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