How do you price an info product?

by Ben Roy 7 replies
I have a couple of products I'm thinking of developing, but I'm completely unsure on how to figure out what the price should be. Is it based on the amount of content? The value of the content? My rep as a provider of information? I'm assuming the answer is "all of the above", but how do you figure out the right price point? If I'd had lots of products before I guess it would be easy to answer, but as a product-development newbie it's difficult.
#main internet marketing discussion forum #info #price #product
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  • Profile picture of the author Jason Fladlien
    Ideally, you price on "perception of value". The higher you can crank up the perceived value of your product, the more you can get your marketplace to charge for it.

    However, there are different strategies for pricing high and pricing low. It depends on your business model.

    If you don't know what to price your stuff at, just pick a number and go with it. If it doesn't work, change it after you get some market place feedback.

    The worse thing to do though is ponder about it all day.

    -Jason
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    • Profile picture of the author Chri5123
      I would say that you price something due to value. For instance if you were selling some profitable adword campaigns with all the keywords in that are making sales of $1000 a month, then you can see how much people would pay for this.

      However if you are just selling a report with a few tips on making a good adwords ad I would sell this at $7.

      Remember don't be afraid to charge what you think your product is worth as sometimes cheap isn't always best!

      Hope this helps!

      Chris
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    • Profile picture of the author pjs
      Originally Posted by Jason Fladlien View Post

      Ideally, you price on "perception of value". The higher you can crank up the perceived value of your product, the more you can get your marketplace to charge for it.

      However, there are different strategies for pricing high and pricing low. It depends on your business model.

      If you don't know what to price your stuff at, just pick a number and go with it. If it doesn't work, change it after you get some market place feedback.

      The worse thing to do though is ponder about it all day.

      -Jason
      I agree. Also make sure to take into consideration the cost of your marketing + payment fees. With that in mind you can set your price in your target profit range. If you think the price is too high, add more value to your product.
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      • Profile picture of the author napoleonfirst
        The value of the content is the important thing. But if you have an ebook of 20 pages you can charge 5-10 dollar. If it is of 40-60 you can charge 9-29 dollars. It all depends on quality and pages. If you offer bonuses and PLR software you are making a better offer.
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        • Profile picture of the author marcanthony
          It depends on what it's worth to you...

          I sell 10 to 15 page reports for $27 in 5 of my 8 niche's and I easily make $20k to $30k a month-just from that. And, I don't do any list building. In fact, I don't even have 1000 people on my list.

          People have no problem paying for information that they want and don't have...

          Don't undercut yourself. The average person will judge a product based on what it costs.

          Here's my rule:

          If I ever feel that a product that I create is worth less than $20.00...

          I will give it away free. But, I don't give away anything for free anymore.

          Unless you consider blog content to be free info

          Create great information... Make them pay for it...

          Peace
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  • Profile picture of the author Ross Dalangin
    I consider pricing on what I can afford if I saw a product. Let say I saw a product and I want it. I'll ask my self do I really need it? Is it for me so high or so low? Can I live without it? Means, do I really really like it? Then whatever price I buy it else how much I want to invest on that product? I'll also consider what time it can save me if I bought it. And then I'll compute it. Another way is to test it and check other product similar to yours. So it would be easy to compare.
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  • Profile picture of the author Rod Cortez
    Originally Posted by hummusx View Post

    I have a couple of products I'm thinking of developing, but I'm completely unsure on how to figure out what the price should be. Is it based on the amount of content? The value of the content? My rep as a provider of information? I'm assuming the answer is "all of the above", but how do you figure out the right price point? If I'd had lots of products before I guess it would be easy to answer, but as a product-development newbie it's difficult.
    1. I look at the market as a whole.

    2. I look at the competition and compare similar products.

    3. I find missing "gaps" from what my surveys divulge compared to what competitors offer.

    4. Depending on different variables I may start off with a lower priced feeder product, followed by a mid-range priced product, with a high-end backend.

    Of course test, tweak, track for optimal results.

    Rod
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