15 replies
Hi,
I'm new to all of this and am about to launch my first product. I get a whole bunch of questions on a daily basis from people wanting my advice so I'm turning it into a product. I have been advised to launch the product at just over $1,000 but I'm not convinced it will sell in volume at that price. So my question is...what kind of value would you expect from a product at that price? what would be a realistic price point? It is not a $99 kind of product but I don't want to go too high either.
Thanks!
#big #products #ticket
  • Profile picture of the author LABEShops
    would be impossible to say without knowing what the product is. How much to charge is dependent on perceived value, though I think a lot of people would shy away from $1000+ especially if it's an info product and not a physical one.

    You could start at an "introductory price" of what you think people would be willing to buy it for to build up some feedback and testimonials and then raise the price to what your customers feel like they would pay for it once you get that info from them.
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    • Profile picture of the author Lizfish
      Originally Posted by LABEShops View Post

      would be impossible to say without knowing what the product is. How much to charge is dependent on perceived value, though I think a lot of people would shy away from $1000+ especially if it's an info product and not a physical one.

      You could start at an "introductory price" of what you think people would be willing to buy it for to build up some feedback and testimonials and then raise the price to what your customers feel like they would pay for it once you get that info from them.
      Thanks LABEshops! :
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  • Profile picture of the author Alexa Smith
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    Originally Posted by Lizfish View Post

    I get a whole bunch of questions on a daily basis from people wanting my advice so I'm turning it into a product.
    Well, that certainly sounds a pretty good reason to be thinking of product-development, as long as it's a real market, and those aren't all people asking you for advice only because they know you don't charge.

    Originally Posted by Lizfish View Post

    I have been advised to launch the product at just over $1,000
    By whom, and under what circumstances, and what's their experience in "pricing products"? I'm asking mostly rhetorically, of course, thinking that it's exactly the kind of question on which many people who aren't actually qualified to advise love to offer advice.

    Originally Posted by Lizfish View Post

    I'm not convinced it will sell in volume at that price.
    Testing is the only way for anyone ever to be convinced about that.

    Seriously, it's good that you're not convinced about that: it would be far more concerning if (before having done it) you had a fixed opinion on that question.

    Originally Posted by Lizfish View Post

    So my question is...what kind of value would you expect from a product at that price? what would be a realistic price point?
    I can't begin to answer without even knowing what the market/genre/subject/niche is (and between you and me, I think it might be wise to look askance at the opinion of anyone who imagines they can, really? ).

    For what it's worth (if anything), having sold some very high ticket things, myself, in the past - though they've never been anything like "the bulk of my income" at all, I think that the two major factors typically affecting the sales of "high ticket products", in a general IM context, are (i) the strength of the trust that the potential customer has in the recommendations of the person promoting it (whether that's a vendor or an affiliate), and (ii) their previous experiences from buying lower ticket products in the same way, from/through the same person.

    .
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    • Profile picture of the author Lizfish
      Thanks for the advice - much appreciated!
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  • Profile picture of the author online only
    I'm not any sort of guru at valuing products nor selling them, I'm just an affiliate.

    BUT, for me $1000 is an odd number.

    Why don't you just sell it at $99 per month? Keep the customers happy by updating etc.?
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  • Profile picture of the author seekdefo
    The only thing that I know sells for 1000 or more is MTTB in IM and many say that it's crap, so think before you do it.
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    • Profile picture of the author Alexa Smith
      Banned
      Originally Posted by seekdefo View Post

      The only thing that I know sells for 1000 or more is MTTB in IM
      What about all the people promoting private jet-hire, all-included cruises and safari vacations, as affiliates? You surely don't imagine those are all selling for under $1,000? There are a few hundred higher ticket products listed on sites like this, if you want to see some more: High Paying Affiliate Programs - Best Paying Affiliate Program Directory

      .
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      • Profile picture of the author seekdefo
        Originally Posted by Alexa Smith View Post

        What about all the people promoting private jet-hire, all-included cruises and safari vacations, as affiliates? You surely don't imagine those are all selling for under $1,000? There are a few hundred higher ticket products listed on sites like this, if you want to see some more: High Paying Affiliate Programs - Best Paying Affiliate Program Directory

        .
        I said IM- make money online products. Btw I didn't know that there are affiliate promoting cruises,safari vacations and private jets.

        Seems interesting.
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  • It's all about delivering your product successfully, giving people what they want, and showing them exactly what you promised to them.

    Perceived value makes a big difference in this industry. You need to show what you're capable of doing and selling. If you can do that, you're good.
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  • Profile picture of the author CashMoneyOnline
    Banned
    I have a product for $997 and sell it all the time. =)
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  • Profile picture of the author Brent Stangel
    what would be a realistic price point?
    It depends on the market. You know your target market, right?

    I get a whole bunch of questions on a daily basis from people wanting my advice
    These are the people to ask.
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    Get Off The Warrior Forum Now & Don't Come Back If You Want To Succeed!
    All The Real Marketers Are Gone. There's Nothing Left But Weak, Sniveling Wanna-Bees!
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  • Profile picture of the author David Hooper
    Regardless of the price you decide to charge, YOU have to be comfortable with getting that kind of money. That's the biggest obstacle from what I've seen.
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    • Profile picture of the author Lizfish
      Originally Posted by David Hooper View Post

      Regardless of the price you decide to charge, YOU have to be comfortable with getting that kind of money. That's the biggest obstacle from what I've seen.
      Good point David. I currently charge a pretty decent rate for my service, but I am trying to get comfortable with making a certain amount. I am 100% certain that the product will do well. I have tested it in the past, and increased the content a lot. I have set a target for how much I want to make and I am wrestling with myself as to whether I can really do it. It would make a huge difference to me, and to those around me. This is probably the best advice I have seen on WF. Thank you.
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    • Originally Posted by David Hooper View Post

      Regardless of the price you decide to charge, YOU have to be comfortable with getting that kind of money.
      Errrr really? you have to be comfortable getting paid big bucks for your product?! We're assuming you're selling legit products, right?
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  • Profile picture of the author hardworker2013
    You need to do some niche research before you launch your product. High ticket Items tend not to have a high volume of sales. You need to know things like search volume of the niche you are in. Not because a few persons asked you your opinion on something means that it is viable to launch a product on the topic. You also need to know the income demographics of persons in that niche, for example let say the niche is Golfing, you know persons who play golf have a high disposable income and are dedicated to the game. So releasing a high priced product targeting those individuals seems more viable.
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