I have finally created my own product!

24 replies
Hello all,

This past weekend I have been writing my own eBook. It is about 90% finished and I am now thinking ahead to marketing and price points.

So here is my question....What should I charge for a 15 page ebook that specifically targets a problem that many people face?

I do not want to give too much away at this time but my target audience is adults in the 30 to 60 year old range. These people are having a difficult time and my ebook gives them a ton of tips help with the special challenges that they are faced with every day.

While the ebook may not have a lot of pages, I feel it does provide a lot of great content. I was thinking somewhere in the $15 to $20 price range.

What do you all think? I realize it may be hard to answer this question due to the limited information but I am just so darned excited to be creating my own ebook (finally) and I can't wait to start marketing it!

Lucinda
#created #ebook #finally #product #product creation
  • Profile picture of the author matthewd
    That is always a tough question. Take a look at what other people in the market are selling their info for.

    That is not always the best way to do it (I sell my product for $67 and the only other product in the market goes for $1400) but it will give you some ideas of what people are willing to pay for it.

    It is best to just test different prices and see what converts the best.
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    • Profile picture of the author Jared Alberghini
      First of all, Congrats for creating your own product!!!

      That is always a high hurdle to cross for the first time. Good for you!

      As for pricing, I think you answered your own question, $15 - $20 is your initial thoughts, well you know what they say about 'your first choice is always the best'...

      I would put a price of something like $14.97 (for the lowest) or $19.95 (for the highest) whatever tests to be the magic number... don't hesitate in changing your prices and test like crazy to see what converts better.

      To be honest, before I scrolled to read the rest and saw you thought $15 - $20, in my mind I was thinking $37 for a product you were describing.

      It really all comes down to 2 things, #1 is the product worth it, and more importantly in many cases #2 the sales copy... how well do you 'sell it'

      Just my initial thoughts...

      - Jared
      Signature

      P.S.

      Join The Future: Telekinetic Marketing

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  • Profile picture of the author Chris Lockwood
    Yes, look for similar ebooks and see what they cost. You did research before writing, right?

    Anyone suggesting prices without knowing your niche is just guessing in the dark.

    Is there other material you could add to increase the value?
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    • Profile picture of the author nursewriter
      Thanks all

      At this time I have only been able to find one product that is comparable but it is a more comprehensive guide and not specifically targeted. The price for that product is $27.

      I did research my product before writing and there seems to be a huge need for this type of information. In fact, I am planning to launch a bunch of complementary products in the future to go with this product.
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  • Profile picture of the author Floyd Bogart
    The big question you have to answer is can you quantify the problem you are solving monetarily?

    If you cannot, then you have to do so in emotional terms, but also be aware of the financial situation in this market.

    These are what I would be thinking about...
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  • Profile picture of the author Thomas Wilkinson
    If you can, have an upsell ready to go or nearly so when you
    launch.

    T.W.
    Signature
    When you hear someone telling you what YOU can't do, they are usually talking about what THEY can't do.
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  • Profile picture of the author Floyd Fisher
    Test....and let the market decide for you.
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    • Profile picture of the author nursewriter
      Thanks to all for the advice.

      I am trying to brainstorm for content that will add value to the product. I really want to over deliver, especially to this group of people.

      I now have to work on a sales page.... my ultimate plan is to have a series of products all complementing each other that can be purchased individually or as a total package for a reduced price.

      I am going to give away a free report with links to my products.....

      I have found an online store that offers an affiliate program. The products in this store can be of great use to the people in my target market. These products are not competition for me but are just a good complement to the information I am providing. Is it a good idea to place affiliate links like this in informational ebooks?

      Lucinda

      By the way, Floyd Fisher....I sent you a PM.
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    • Profile picture of the author Headhunting55
      Hi, Lucinda;

      For what it's worth, I would consider referring to it as a "report" or "special report", and not an ebook.

      This has to do with the perception of value, at least from my perspective. If the customer thinks they are getting an ebook, they may be expecting something in the 60-100 page range, not 15.

      There was discussion here a while back that touched on this issue. Myself, I sometimes (emotionally) judge the initial value of a product by it's "weight", in this case pages. The first thing i do when i buy an ebook is to look at the number of pages to gauge the "value" I have received, even though, intellectually, I KNOW that i would always prefer a simple step-by-step that gets right to the point, than a long, drawn out fluff-filled ego-trip from the author!

      It's just a thought, but i would give it some consideration.

      Best of luck, i am sure it is a first-rate product!
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      • Hi Lucinda,

        Agreeing with what Headhunting 55 says, I remember
        that thread and how everyone pretty much agreed
        that a lot of non-IMers think that the word "e-book"
        seems to go along with the Amazon price tag of around
        $5-7.

        Anyway, I don't use the term "e-book" in my salecopy
        anymore. Here is my list that I pull from for other terms
        that do the job.

        Blueprint
        Case Studies Guide
        Course
        Digital Book
        Digital Download
        Digital Report
        Downloadable Report
        Home Study Course
        How-to Guide
        Insider Guide
        Instruction Manual
        Manual
        Program
        Quick Start Guide
        Step by Step Guide
        System
        The Complete Guide to ...
        Tutorial
        Whitepaper

        Enjoy and congrats on your new Digital Report.
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  • Profile picture of the author mario2001
    Banned
    Good job for creating your own ebook.


    Mario
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  • Profile picture of the author Andres
    Hi Lucinda,

    1st - congrats on the ebook
    2nd - your squidoo page is great! Well done.

    As far as price I think you are on the mark but here is an additional idea when marketing your new product.

    Visit other sites that are similar to yours and contact that webmaster to offer your ebook to his/hers buyers. That way when the other webmaster gets a sale the buyer will see your offer as well.

    Nice little JV tactic that can earn you some real money. As a matter of fact the biggest JV's that make the big bucks usually happens this way.

    Keep that in mind for future ebook projects as well.

    Good luck to you!
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    • Hi Andre,
      When you say
      "Visit other sites that are similar to yours and contact that webmaster to offer your ebook to his/hers buyers."
      Do you mean sites that are complimentary to your product? and...

      Whan you say
      "That way when the other webmaster gets a sale the buyer will see your offer as well."
      Do you mean that the other webmaster will put an offer for your product
      on their salepage or thank you page?

      Just wondering........

      Thanks,
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      • Profile picture of the author nursewriter
        Headhunter and Denice,

        Thank you so much for reminding me about the issue with calling it an "ebook" I read that thread a few weeks ago.

        Thanks for the great suggestions for what to call my specialized report.


        Lucinda
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      • Profile picture of the author Andres
        Hi Denice,

        Here are the answers to your questions:

        1) Do you mean sites that are complimentary to your product?
        YES!

        2) Do you mean that the other webmaster will put an offer for your product
        on their salepage or thank you page?
        Yes and Yes!

        Most likely on their thank you page. The buyer already has the credit card in hand and if they offer your ebook the chances are very high they will buy your ebook as well.

        Hope this helps!
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        • Profile picture of the author vorales
          All the best that you have created your product.

          Test the product and take the customer feedback,as what they feel about the product.
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          • Hi nursewriter,
            Just wondering how the book is going?
            I always like to hear success stories.

            Andres,
            I think I may have some possible JV
            opportunities develop due to your advice.
            These are non-IM ventures so I guess maybe
            I should call them possible "partnerships" but anyway,
            thanks for the great idea.
            I would never have thought of doing what you
            suggested. I guess when I have seen OTO's
            on download pages, I have always assumed it
            was just more products from the author I just bought
            from.
            I should never "assume"
            thanks again,

            Cheers,
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  • Profile picture of the author mbealmear
    I have found that using a price with the number seven (ie. $17) has a greater converting ratio vs prices that have zeros and fives (ie $15)
    I have no clue why it makes a difference but I have tracked conversions and have spoken with others that have and for some reason it matters and having that seven in the price does help when it comes to sales.
    So I would suggest selling it for $17
    Or you could consider breaking the chapters up and recording them in audio format then could charge $37-$47 for the same content just in different form. You then would be able to sell or give a way your ebook as a front in product to a squeeze or opt-in page and use the audio as a backend product after they have already received the ebook. (People will pay more money for the same content in different format!!)
    This approach allows you to have the same product listed differently and having the audio greatly improves the value of the product. And your customers would have to option to download the mp3 (audio) file and make a CD to listen to this way they feel the product is worth more.
    If you dont feel comforatable reading your ebook or you feel you dont have a good voice you can get someone with a good voice to do it for you. If you dont know anyone just visit one of your local radio stations and ask them to do it for you for a small price, they dont make that much money so I am sure they will take on the opportunity to make some extra cash.
    I hope I gave you some good ideas and it helps!
    Good luck!
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  • Profile picture of the author chief1
    Banned
    [DELETED]
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    • Profile picture of the author matthewd
      What does the page number really matter? I am sure she could throw in 100 more pages of fluff that does not get you the desired results that you get out of those 15 pages... wouldn't that piss you off more than just getting right to the point?

      Originally Posted by chief1 View Post

      For a 15 page ebook??? I'd say about $7! If the product is really needed and its proven to help i'd say $17. I wouldn't call a 15 page ebook an ebook at all, i'd call it a report or a leaflet :S

      If i paid Over $17 for a 15 page ebook i'd ask for a refund
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      • Profile picture of the author chief1
        Banned
        [DELETED]
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        • Profile picture of the author nursewriter
          I am not going to be calling it an ebook....It is a specialized report that is in the health niche.

          It is a report that will help solve problems for people that may be at the end of their rope looking for answers.

          Sure it may be 15 pages but there is absolutely no fluff or filler....I am pretty much a "get straight to the point" person.

          The first report is finished.....I am formatting it right now. I have started research for the second report which complements the first.

          I am not sure right now how many complementary reports I will write in this niche...I am getting new ideas all the time. But after I get all the reports completed I may then take those and make them into a book. I will see how it goes.

          I still have not decided on a price but this report is worth at least $12 in my opinion for a person to get fast answers and solutions to their problem. The fact that I am a nurse with plenty of years of experience in this area should add some credibility to the report.

          As Matthew said...I could have written hundreds of pages but I didn't want my customer to have to sift through pages and pages of writing to get the solutions to their problem...I want it to be simple.

          So this week I am working on the second product, the sales letter and a free report that I will be giving away.

          I am really excited and I hope I can make this work. It will be great to actually have a product that will provide good information and help people.

          Lucinda
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  • Profile picture of the author JHamilton
    I am sure someone already said this....
    But you need to test different price points!

    A great example was given by business mogul Jay Abraham.. he released a home study course that he was going to sale for $295. He felt like the course really gave alot more value than that, but (would have assumed) people wanted to pay less for the product.. but he was more smart than to ASSUME anything.

    He tested the exact same marketing materials to three separate control groups- he offered the exact same product for $295, $395, and $495. In every instance, he sold three times as many courses for $495 than he did for $295- and $395 sold the least. It's all about perceived value- people expect to pay more for quality information.
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    • Profile picture of the author nursewriter
      Originally Posted by JHamilton View Post

      I am sure someone already said this....
      But you need to test different price points!

      A great example was given by business mogul Jay Abraham.. he released a home study course that he was going to sale for $295. He felt like the course really gave alot more value than that, but (would have assumed) people wanted to pay less for the product.. but he was more smart than to ASSUME anything.

      He tested the exact same marketing materials to three separate control groups- he offered the exact same product for $295, $395, and $495. In every instance, he sold three times as many courses for $495 than he did for $295- and $395 sold the least. It's all about perceived value- people expect to pay more for quality information.
      I do have every intention of testing my price points....I would be foolish not to. I am just trying to figure out a starting price point.
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  • Profile picture of the author jelanik
    Ignore what the other ebooks are selling for and base your price on what you assume your target demographic will pay. If you don't know ask them. A simple survey of your target demographic will tell you what they will pay. Underpricing is one of the most common mistakes business people make. It stems from having poor marketing.

    Focus on having incredible marketing (sales letters, follow up etc.) and you will have success.
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  • Profile picture of the author Mohamed_Mnafeg
    your first ebook must be free of charge to let people know you
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