Friday, December 12, 2008

Pricing Pointers

The price you set for your product is essential to its success or failure. Remember that there are no printing costs involved on YouPublish, so prices should generally fall lower than a printed work. In the end the price is up to you, so here are some tips to help guide you to a decision.
The most important value that is in each of your creations is its content. EBook writer, Alain Thilbault, says to remember that you are “not talking about how you value your content…[you are] talking about how your customers evaluate the benefits provided by your content.”
Think of how much time, research, thought and creativity you put into your creation. How much is your product worth? This should lead you to an approximate price range.
Another good idea to help guide you to individual price points is to check out what the competition is up to. How are similar products priced? Does your product give more value to the customer? If so, you may want your price a bit higher, remembering of course that it is in the eye of the customer whether there is increased value, justifying increased price.
When looking at the competition one strategy you can implement is to sell your product at a lower price. If your product has more value for a lower price, customers will nearly always choose it.
Figuring out the right price for your products can be a bit tricky, but by testing the price, figuring out the value and studying the competition, you will be able to find out what price works best.

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