Internet marketing: How to price your products

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How to price your products for your online business. What is your product actually worth?

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Internet marketing: How to price your products

  1. 1. How To Price Your Information Products
  2. 2. I am going to talk about how to price your information products and why it is important that you understand this before you create your sales letter and put your price on it.
  3. 3. One of the biggest mistakes that people can make is to price their product based on what the competition is doing. If you do this you can actually begin to devalue your own products. After all if you create a premium product then you should really be able to put a premium price to that product.
  4. 4. Not only that, but if you price your products too low then the quality becomes questionable. People will see your price and wonder whether your product actually will deliver what you promised in your sales letter and are likely to not bother making that purchase.
  5. 5. So how can you make sure that you are pricing your information product correctly so that you are giving it a price that demonstrates a high quality product but also a price that is affordable to your market?
  6. 6. When you create an information product you are creating a solution to a problem. If you think about it, before someone goes online to search for something they first have a need that they need to solve. Therefore they begin to search for something that will solve their need.
  7. 7. So when you create a product that provides the solution to a specific need you should base the price of your product on how much it would be worth to someone to have that need met. In other words, your price should be based upon the results that someone would get by putting into practice what you have described in your product.
  8. 8. So think about the various needs that someone might have that your product solves. What kind of results would they see if they purchased your product and implemented everything? In monetary terms what would it be worth to them to get those results?
  9. 9. This is the price of what your product is actually worth and therefore this should be your starting point when thinking about pricing your product. You can then add a discount or provide a special offer to make it more affordable but you need to make it clear to potential customers exactly what your product is worth to them.
  10. 10. If you don't make it clear what your product is actually worth then when you do provide a discount it becomes meaningless because there is nothing to base it on.
  11. 11. If you found this helpful then you might like to visit my website: KayFranklin.com (Free download available)

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