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Pricing Strategies in a Changing World - Your Opinions Please ...

by Jim M
6 replies
Over the years I've been on the internet I've bought all manner of stuff, from $5 ebooks to courses and software products of $2000 and more.

I can't help thinking that as we move into what is unquestionably a new financial era throughout the world we may need to look at internet pricing structures.

My personal thoughts have always been - if someone can show me a 'short cut' to getting something done, a quick way to learn a new technique etc. Then the extra cost probably made good sense in that it would have cost me X in time to learn - and so many hours saved equals X in time spent making money etc etc. On many occassions however I see a 30 - 50 page report / ebook, whatever you want to call it, and it's priced at anything from $47 - $97 - come on - would any of you pay that price in a bookstore? - I think it would have to be one very impressive book to command that sort of ticket!

Others among you will take the attitude - leave the so called 'bottom feeders' out of the equation and go for the guys with money further up the chain.

OK - I don't have a problem with that , I've sold very high ticket real goods in the past where you always had to look to the money guys as buyers.

However - here in the UK on the High Street there has been a marked shift away from buying premium goods in high ticket stores to a massive growth in the bargain discount chains, so the question I'm posing is why should the internet ultimately be any different?

Around the world it seems to be so called 'middle management' and 'upper management' - they guys with the money, who are coming out worst in the current changes - and they will be the ones who are perhaps looking to the internet to get a new income.

It's well known that people look to the internet to get a better price than they do on the High Street.

I'm not falling on either side at the moment - I just want to spark some sort of world wide conversation to see what others views are on this topic.

Looking forward to your views....
#changing #opinions #pricing #strategies #world
  • Profile picture of the author Jared Alberghini
    Originally Posted by Jim M View Post

    It's well known that people look to the internet to get a better price than they do on the High Street.
    Hi Jim,

    I get what you are saying, and here's my input...

    Prices for Informational Products will only increase. There is a huge surge of new people that have just lost their jobs, turning to the web to find the solution.

    This is only going to increase as the economy tanks even further.

    People will soon catch on, and start charging more for their solutions.

    Hope this helps start the discussion...

    - Jared
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    • Profile picture of the author jdmitchell
      There is far too much information these days, and it confuses people. If someone takes the time to filter that information, and provide a neat, clear little magic pill, one stop solution....it will always command higher pricing.
      I always price based on value, and the value of my services and products change relative to my skill set in articulating that value in a way that my target market can relate to.

      The cost of quality information will rise dramatically. Online, and offline.
      If you always compete on value, and not price, you will never have to worry about going out of business.

      I am also wondering if the fact that you can hold, and look through a book in a store, takes away some of that intriguing mysteriousness of an online product where you can only "peek" where the marketer wants you to. Thus lowering the perceived value
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      • Profile picture of the author ShayB
        Because of the niche I target, I find lower-priced items to sell better.

        My niche is more willing to risk a few dollars, but they don't see the value of investing a lot of money for information that could change their future.

        I don't believe that is true of every niche, however.
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        • Profile picture of the author Jim M
          Good morning again from Ireland....

          I must admit - I thought this topic would have generated a little more interest than it has because we all need to keep a close eye on pricing.

          Looks like people have other things on their mind?

          Perhaps some need to sit back and take a closer look - last year large financial institutions, housebuilders etc were going full steam ahead - making a ton of money and taking no heed of what my lie ahead ...... could the same thing happen in the IM world?

          Have a good one.......
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          Jim Montgomery www.thepublishing.press
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  • Profile picture of the author Sirius Lin
    It's the information era. As such, we are overloaded with information, and worse still, there's no way of telling what is real and what isn't. If someone can distill the truth of a topic into an ebook, no fluff and such, then $47-$97 is a feasible price to ask for it.

    Didn't Allen mention that he paid several $k in the War Room for a list of web sites? Imagine that - just a list, but relevant to him, so it was worth that much to Allen.

    ~ Sirius
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    • Profile picture of the author Jim M
      Originally Posted by Sirius Lin View Post

      It's the information era. As such, we are overloaded with information, and worse still, there's no way of telling what is real and what isn't. If someone can distill the truth of a topic into an ebook, no fluff and such, then $47-$97 is a feasible price to ask for it.

      Didn't Allen mention that he paid several in the War Room for a list of web sites? Imagine that - just a list, but relevant to him, so it was worth that much to Allen.

      ~ Sirius

      Hi Sirius,

      I agree with the 'no fluff' comment - but how many of us have made purchases in this price range in the past to find that they were indeed filled with fluff!

      $47 - $97 may seem like a lot of money to the many who may now be coming online having found themselves recently unemployed and are not attuned to the pricing bands of information products online.
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      Jim Montgomery www.thepublishing.press
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