Thoughts On Pricing Your Info Products
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What are your thoughts on pricing your info products? This question is the subject of much conversation among my joint venture partners, and among other groups with which I interact. Pricing digital products that are produced once and available for unlimited numbers of downloads often consume most of these conversations.
Some marketers produce physical books, CDs and DVDs, but not as many of us produce tangible products now. The need to manage products in inventory, prepare them for shipping and pay the actual cost of shipping make these tangible products less attractive than their digital counterparts. Digital downloads are “set-it-and-forget-it” business assets, and that is a very attractive advantage.
Ruben Gamez posted a good article about pricing products and services on Six Revisions recently, and his summary is particularly useful for information marketers, especially those who are using their info products to attract clients as well as customers:
“Craft your proposals so they emphasize the time your clients will save or the experience they will get from your service.
Make your solutions incomparable to your competition by showing how you’ll solve your clients’ problems.
Bundle your services into one all-inclusive price to cut down on the perceived “pain” your clients feel when spending money.
Opt for more frequent price increases instead of one large price increase.
Ensure that your website, proposals, and contact forms are designed well so that your clients feel like they’re buying from a high-end company..
Give larger percent discounts by discounting smaller amounts
Include words like “small” or “low” in your copy to enhance response rates.”