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Pricing A Product

by New Life
8 replies
I have a product that im considering rolling out in the form of a 100 hour audio seminar with kirt christensen...armand morrin...yanik silver etc...

Also pdf guides relating to ppc and adwords.

How do i go about pricing my product

$47??
$197??

All help appreciated!!

Thanks

JOHN
#pricing #product
  • Profile picture of the author nick1123
    100 hours? Wow.

    What kind of testimonials do you have?

    Do you have a loyal following of people who have bought from you before?
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  • Profile picture of the author jrailsback
    A general rule of thumb for digital products: Price at .01% to .001% of the amount of value your product contains.

    What this means is: If you price your product at $47, make sure you give away $470-$4700 worth of value to your customers.

    In other words... OVERDELIVER. If you can do that, it won't matter what you price it at, people will appreciate you more because you exceeded their expectations. They'll buy from you again and tell their friends to buy from you.

    With 100+ hours of audio, I don't see why you couldn't charge $197... just make sure you pay attention to how valuable your product is perceived by the prospect.

    Hope this helps
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    • Profile picture of the author AlexKaplo
      Originally Posted by jrailsback View Post

      A general rule of thumb for digital products: Price at .01% to .001% of the amount of value your product contains.

      What this means is: If you price your product at $47, make sure you give away $470-$4700 worth of value to your customers.

      In other words... OVERDELIVER. If you can do that, it won't matter what you price it at, people will appreciate you more because you exceeded their expectations. They'll buy from you again and tell their friends to buy from you.

      With 100+ hours of audio, I don't see why you couldn't charge $197... just make sure you pay attention to how valuable your product is perceived by the prospect.

      Hope this helps
      Couldn't agree with you more... that's probably the best way to price a product.

      By the way, I'm curious to know how did you get Yanik Silver?

      Alex Kaplo
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  • Profile picture of the author Mike Hill
    Good Lord, no one in their right mind will ever listen to 100 hours of anything no matter how good they are. I suggest you break them up into several products...

    Mike Hill

    PS. You have enough content here for a good product, a great upsell and a version 2 a while down the track.
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  • Profile picture of the author dave147
    [DELETED]
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    • Profile picture of the author TimCastleman
      A general rule of thumb for digital products: Price at .01% to .001% of the amount of value your product contains.
      I've never heard this before and thank God I never listened to it. I price my products to return at least 10 times what I charge. Never seem to have a problem converting it.

      But there is a lot of other stuff that goes into pricing. Your position in the market, who is being interviewed and how well known they are, what type of product and what type of market it is for. Lots goes in to pricing besides just price.

      Tim
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    • Profile picture of the author TimCastleman
      NL -

      Why not break it up into those 7 sections and offer them all for $27 each or if they want them all give them a healthy discount.

      Tim
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  • Profile picture of the author artwebster
    Wow.

    Does nobody have anything of value any more?

    Where did this idea come from that if you have a good product YOU GIVE IT AWAY?

    Only in the crazy world of the internet marketer would someone create a product (in my case it has taken well over 100 hours of very strenuous and exhausting effort) and then decide to use it to show how little they value themselves.

    "Ah, yes.", they say, "but what goes around comes around." What platitudinous, pestilential bull crap! While this will often be true in the normal course of events, it is not something that can be forced.

    If you don't value your own efforts, why should anybody else? If you give away a perfectly good product you immediately reduce the perceived value of anything else that you might produce.

    Instead of 'what goes around, comes around' why not use a much more sensible platitude, 'money is made round to go round' - it's no bloody good if nobody is spending it and producers are actively militating against that.

    I certainly would not think that my 100 plus hours of blood (yes - the red stuff!), sweat and tears is of no more value than the wrapper on a chocolate bar. I might be reduced to a quivering mass of jangling synapses every now and again but I know value when I see it!

    Products in the internet marketing niche have become herded into two distinct categories.

    1 - Here you are mate - it's free

    and

    2 - It's HOW MUCH!!!!!
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