Top 7 Tips to Winning E-Book Or Product Pricing

After you have created your e-book or online information product, the next important thing to do is to put a price tag on it. Now, you may wonder, so how do I price it? Pricing is a tricky process, but here are seven tips:

1) Charge less if you have more potential customers, as you want the masses to be able to afford your product. On the other hand, if you only have a handful of customers, charge less, as the products will be more niche rather than generic, and hence more valuable to these customers. These customers will also understand that the products are very specific and are more costly to produce, and will be willing to pay more for them.

2) Exclusive items are more expensive compared to common items. E.g. if Louis Voutton comes up with a limited edition Year 2010 Red Rouge Handbag Edition, and only has 100 pieces available, it will become more valuable. This is the scarcity mentality among consumers, as the less available it is, the more expensive it is.

3) Look at your return on investment as well. A more expensive item usually takes only a small incremental effort to market or make in most cases, so the more expensive the item, the higher the return on investment for each item sold. The whole internet marketing game takes time to master, so learn from those who have been there to shorten your learning time, and avoid painful mistakes.

4) Always look for the sweet spot in your pricing. Too high, and a lot of customers will be left out of the purchase as they just simply cannot afford to buy your products. Too low, and customers will perceive your products to be of low value, and worse, suspect that there's something wrong with the product to be sold at that kind of pricing.

5) Check also the information value that you give, and who will be willing to pay for them. If your information is pretty common, or to solve a very common problem, you might want to price it cheaper to suit the masses' affordability. If it's on something less common such as how to succeed in NASA interview, then price it more expensive.

6) Give freebies to enhance your pricing. Sometimes it can be easily a discount voucher to your other products, or it can be a software that you can give away. Put bundles also to increase the value of your offering. Bundle packs such as a software, an e-book, and a video product makes it difficult for customers to compare prices, and it makes your product more exclusive.

7) The last tip is to benchmark vs. your competitors. Search out other products in the same category or niche as your products are, and then price within the price range. However, it is always easier to price higher first, and then bring the price down a notch. Imagine the rush to buy Mercedes when the price is down a notch, compared to buying a normal Ford car that has increase its price by 10%.

Gab Chu has helped hundreds of Internet Marketers create wealth from their own online information product empire using strategies to better product creation, and traffic tactic, secrets and techniques. Get $19 worth of a F-R-E-E Report by visiting Trialed and Time-tested Informative Resources at http://loveformarketing.com/imsuccess

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