So I am going to throw out some ideas which can make you more profit.
Almost every time I log into the forum, I see many threads about product creation... and questions of pricing.
My solution? Think outside the square when creating product and stand out. Truth is that we (as customers) are bombarded with the same old - same old products (especially in the IM and MMO markets).
Note to self: Track down guru who said the best way to make money is to sell to IM's and give him / her a smack around the head.
Ok where was I? Oh yeah...
Competition and over supply is leading to a downward pressure on prices.
Hence it may be valuable to try something different.
The bad news is that this will take some extra work on your part... but the effort will pay off in the long run with bigger profits and higher prices. Hell, something crazy might even happen to you like - your customers will like your stuff. Imagine that?
So you may be asking where the hell am I going with this? Here goes...
Do you create PLR products?
Do yourself a favour and think outside the square. Stop competing with the dime sale writers. Find out what area you are great at and serve that market.
Try a different angle - carve out a niche and offer specialized products for higher prices.
The key here is that people want it done for them and will pay for the privilege. These are the customers you want. Forget the cheapskates.
One thing I hate about most PLR is that it isn't related. So there is money to be made if you are prepared to think outside the square and created related PLR to a targeted market.
Do you create ebooks?
Have you considered offering a kindle version as well as a pdf?
What other products can you create to increase value? Audio? Checklists? A membership site?
Yes they take work, but isn't an extra $20 per sale worth it?
What about a clarity call as a bonus when you first launch your ebook? These can be held once per month via a webinar, or you create it once and offer the recording as a bonus. More value and it helps your customers consume your product.
By the way, I am a big fan of recording calls and creating more products from them.
How about a published book? Say what?
My first info-product was a self published book about real estate investing titled: Renovate For Profit.
At the time I wrote it, I had no idea about marketing. However, I did approach Australia's #1 real estate magazine and struck up a deal through their online store... and also [re sold a bunch to a direct marketer who used it as a give away with another product.
The end factor was that my pre sales allowed me to pay for a 10,000 print run and these were sold over approx 3 years with a $5 to $10 profit per book.
Then, by filming a seminar as well as filming a few real projects, I created a home study course which sold for $1299.
Now I did a big print run. If you don't want to do that, you can do a print on demand, ok?
If you are an expert in a field, then a published book gives you instant and incredible street cred and can open doors you never dreamt of.
That success also led me to be approached by a NY times best selling author to co-host his membership training program... $150 per month - per member.
Ok, I'm not tooting my horn, just sharing with you how things can change once you set down a certain path in life.
The above ideas are just the tip of the iceberg. There's more to come, but I invite others to share their ideas as well. Pay it forward and give others on here a hand up.
Go forth and multiply your profits!
What ideas have you tried to differentiate yourself from the crowd?