Let me ask you a question. The last time you launched your own product to sell online, or even offline, how did you come to a conclusion about what price you were going to be selling at? At a guess, I’d probably say you looked at the competition to see what they were charging. While this is a good start, it’s far from the whole picture, and you’re fumbling in the dark if you looking at competition is the only factor you’re taking into account. Did you know you can double your sales volume by doubling your price? I’ve done it myself, and I’ll show you how. Did you also know that 99% of the products I see being sold are too cheap. So much so, that they’re putting customers off instead of attracting them (which is no doubt what they think they’re doing). Let’s dispel some pricing myths and dig right down to the real facts to ensure you get the most cash in your pocket the next time you launch one of your products.
Overview on Pricing ● To introduce the concepts of fluid pricing strategies, and to show that you have many more avenues to explore than it seems like at first glance. ● To answer some of your questions about how you should price your product for maximum profit taking the number of sales to price ratio's into account. ● To display the effect of pricing too low, where many people price their products without first looking at the all important bigger picture. ● To show you why many people are under pricing their products in a big way, and how you can avoid this pitfall.
