Yet another "How Do I Price My E-Book?" thread

10 replies
I've seen a few hundred threads asking "How do I price my E-Book?" and I figured it was high time for another one!

Thing is, I've read through probably thirty of those threads and not found an answer to my specific question. Forgive me if I haven't dug deep enough...

I get it; testing, testing and testing some more is the way to arrive at a functional price. My question has to do with differentiation from the rest of the $27-47 pack.

See, I'm working on a book in a particular niche that will allow people to expand their current floundering service businesses and take advantage of pending legislation. As it's a great idea, and part of a national dialog, I'm not the only one with such a product. But, from what I can tell, I am the only one who has rock-solid experience in the field. On top of that, I was hired by the DOE and the Small Business Network in my state to develop and present the curriculum for training people to expand into this field.

The squeeze and sales pages of my competition don't mention a thing about who has put the products together, no bio, no experience, etc. Digging deeper into their WhoIs and the like, I can see that they're almost all IM and SEO companies that saw an opportunity and grabbed it.

So that's the backstory. My question is, how high is too high? I'm thinking of pricing the package at a few hundred bucks. That way it'll stand apart from the rest of the pack in terms of its value and usability.

Let me add that it will be incredibly useful information that will save the reader many thousands of dollars in trial and error, should they choose to go the route I'm laying out.

I know that personal values shouldn't play much of a part in marketing. BUT, my personal feeling is that a $27 product that's supposed to change your life comes across as disposable garbage.

Is there a tipping point? A target? A threshold?
#how do i price my ebook #thread
  • Profile picture of the author ewenmack
    That is the key, how much it's going cost him if he does'nt take up your offer.

    You need to break it down, dollarize it and put it in a dimension he can understand for his personal situation.

    Example...Joe Polish was holding a workshop for carpet cleaners.

    He told his prospective list that they will be losing x number of dollars because that was the average figure the past attendees made after attending!

    If you can, find a way so the prospect can't compare you with an alternative.

    Example...Selling a set of c.d's would be compared with another set.

    You go in and compare them with the cost of a live seminar at a much higher price point because it contains the same information and what a bargain because he doesn't have to pay for travel, hotel and gets to stay home with his family.

    Price is higher than other c.d's yet still a bargain compared to live training.

    So to recap...
    What will be lost
    Compare it with a high price alternative

    All the best,

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  • Although it is a lot of extra 'work', why not set up 3 websites, each with a different price, & try advertising the different prices? That way, you can see what works best for you.
    Pick a product. Pick ANY product! -> 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9
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    • Profile picture of the author Carl Donovan
      Great Ideas and thoughts, folks. Thanks for the input.
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      • Profile picture of the author Jill Carpenter
        Is the information you are offering going to save me or make me back that investment?

        How big is the niche exactly? Will this product sell to thousands or just a handful?

        Does your niche spend this kind of money for this type of information?

        You know you are an expert - but do others?

        I could see 2 books on the shelf about golf for example. One is written by Tiger and the other is written by Joe Schmoe. Both are the same price - but I am familiar with the name Tiger. Which do you think I will spend money on - even if it is more expensive?

        If you can back up who you are and why you are a better authority on the topic then you can justify charging more IMO.

        You really should build a list, and survey your potential buyers on how much they are willing to pay for the information you are offering.

        You can always offer different versions as well. Bare bones for your 47 bucks, and get the full package for a few hundred type of thing - and maybe even a personal consultation.

        "May I have ten thousand marbles, please?"

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        • Profile picture of the author summer07
          Originally Posted by avenuegirl View Post

          You can always offer different versions as well. Bare bones for your 47 bucks, and get the full package for a few hundred type of thing - and maybe even a personal consultation.
          You mention that your target market comprises "floundering service businesses" -- does this mean they're struggling with cash flow right now?

          If so, Jill's suggestion of products at multiple price points makes sense.

          Think "funnel" and give them something helpful and easy to 'yes' to. Then have a couple more offers at the ready -- they'll be able to justify spending more because of their great experience with the introductory products.


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  • Profile picture of the author IRichie
    I price my products in a very serious manner.
    First, think what your customer is getting. Will you for that price if you were the customer of this product. Secondly, will customer be happy after reading the product (ebook) after paying this price and third one, will this price meet your financial targets?

    That's it!
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  • Profile picture of the author jbsmith
    In addition to the questions from avenuegirl - here is a REALLY important question to answer honestly to yourself...

    1. Do those in your market KNOW about the avenue you suggest they take - or will you have to educate them?

    If they already know or sense that they can expand their business and are just looking for THE way to do it, then you are at the tip of a very lucrative market and packaging something for a couple hundred dollars should be no problem. However, if your market don't already have in their head the great opportunity you are about to help them realize, then selling to them (at any price, but especially at a high price) will be like pulling teeth.

    Let's say (for sake of argument) that they consult in an area where they suddenly know a new regulation has come into place - they KNOW this is a great opportunity to expand their business AND they are ACTIVELY looking for information on how to do that - then you could easily put a training program in front of them that will promise to get them there and charge a couple hundred dollars (or even more)

    In this case, you are 110% right in trying to differentiate yourself from your competition by putting out a higher-priced product - add more of a "course" or training program spin, add some video instruction, put in some pre-designed forms that make life easier for them, arm them with a checklist they can use to get better results, offer 1 or more teleseminars with experts as part of the package, etc...

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    • Profile picture of the author Carl Donovan
      Originally Posted by jbsmith View Post

      Do those in your market KNOW about the avenue you suggest they take - or will you have to educate them?
      GREAT question, Jeff. And one that i really need to take the time to find the REAL answer to.

      And the rest of your comments are gold. Thanks!
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  • Profile picture of the author mr2monster
    Here's what I would do.

    Figure out what I think my product is worth..

    Research what OTHER product owners are selling their (similar) product for.

    Split test the 2 prices.

    Start there. Once you have a winner, maybe split test the price again.

    Then split test the offer.

    i.e. Ebook now for $47 VS. Physical product for shipping, if you don't like it return it. If you like it, do nothing and you pay only $147 in 30 days.

    They key is finding the right way to structure your offer to get the highest profitability. In the above, you might only sell half of the units that you'd sell as an ebook, but you'd make 56% more revenue..
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  • Profile picture of the author Carl Donovan
    Great responses, all. Give me a minute to digest them...
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