{"id":1725,"date":"2023-04-06T06:00:00","date_gmt":"2023-04-06T13:00:00","guid":{"rendered":"https:\/\/stephenfbrown.com\/?p=1725"},"modified":"2023-04-06T06:00:00","modified_gmt":"2023-04-06T13:00:00","slug":"learn-how-to-set-prices-for-your-information-products","status":"publish","type":"post","link":"https:\/\/stephenbrownsblog.com\/index.php\/2023\/04\/06\/learn-how-to-set-prices-for-your-information-products\/","title":{"rendered":"Learn How to Set Prices for Your Information Products"},"content":{"rendered":"\n<h1 class=\"has-text-align-center wp-block-heading\">How to Set Prices for Your Information Products<\/h1>\n\n\n\n<p>The prices for information products are largely determined by the product owner. That\u2019s far more freedom than that of a book on the shelf at a major retailer. Print books have to make enough to pay the author, editor, printing, marketing, publisher profit and cut to the retailer.<\/p>\n\n\n\n<p>Information products only pay the owner and affiliate sales. No inventory to store, no big upfront costs and if it doesn\u2019t sell, just transfer it to an archive file or hit the delete key. When you consider all of those factors, the information product owner has freedom to set the prices with one exception &#8211; what will the market pay?<\/p>\n\n\n\n<p>That\u2019s the tricky part. Ebooks are well established in every genre from textbooks to popular topics so the price is dependent on the market and the following of the author.&nbsp; Let\u2019s say you\u2019re starting out and lack that major following, how do you price your product?<\/p>\n\n\n\n<p>Start by surveying the prices on comparable information products on at least a dozen sites or vendors. Have you noticed that many information products end in \u201c7?\u201d Popular pricing is $17, $27, $47.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/stephenfbrown.com\/wp-content\/uploads\/2023\/03\/internet-business-2703460_1920-960x1024.png\" alt=\"set prices for your information products\" class=\"wp-image-1726 lazyload\"\/><noscript><img decoding=\"async\" src=\"https:\/\/stephenfbrown.com\/wp-content\/uploads\/2023\/03\/internet-business-2703460_1920-960x1024.png\" alt=\"set prices for your information products\" class=\"wp-image-1726 lazyload\"\/><\/noscript><\/figure>\n\n\n\n<p>This price seems to click with many buyers.&nbsp; Other frequently used price points are $9.95, $19.95, $39.95. The \u201c.95\u201d is borrowing a retailer\u2019s trick of making the price sound less than it really is.<\/p>\n\n\n\n<p>After all, $19.95 isn\u2019t a full twenty bucks since buyers tend to ignore the impact of retail tax or shipping. With information products delivered electronically, the $19.95 is the true price, leaving a big nickel for whatever a nickel still buys.<\/p>\n\n\n\n<p>It\u2019s not the nickel &#8211; it the psychological satisfaction of spending less than twenty dollars. The $17 products have the same appeal of spending less than twenty dollars.&nbsp; Look for the middle ground in pricing.<\/p>\n\n\n\n<p>Avoid starting too low or the value of your product won\u2019t be seen as worthwhile. Even if you start slightly higher than comparables, you have room for a price reduction or a \u201cspecial offer\u201d at the next lowest price point.<\/p>\n\n\n\n<p>Think of how many times you see the infamous television infomercials that flash the price as $129 with reductions that end up at $39.95. The buyer gets excited about getting a discount when the product was never going to sell at the inflated price in the first place. It\u2019s about letting the buyer win.<\/p>\n\n\n\n<p>Price only matters as part of the equation.&nbsp; Don\u2019t give your buyers a reason to focus on the price. Keep them focused on the product and the excitement of the purchase and they\u2019ll be willing to pay based on the perceived value and not the dollar amount you put on your product.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How to Set Prices for Your Information Products The prices for information products are largely determined by the product owner. That\u2019s far more freedom than that of a book on the shelf at a major retailer. Print books have to make enough to pay the author, editor, printing, marketing, publisher profit and cut to the &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/stephenbrownsblog.com\/index.php\/2023\/04\/06\/learn-how-to-set-prices-for-your-information-products\/\"> <span class=\"screen-reader-text\">Learn How to Set Prices for Your Information Products<\/span>Read More &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":1726,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","slim_seo":{"title":"Learn How to Set Prices for Your Information Products - Stephen Brown&#039;s Blog","description":"How to Set Prices for Your Information Products The prices for information products are largely determined by the product owner. That\u2019s far more freedom than th"},"footnotes":""},"categories":[21,11],"tags":[500,550,793,900],"class_list":["post-1725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-product-launching","category-sales","tag-how-much-should-you-charge-for-information-products","tag-how-to-set-prices-for-your-information-products","tag-pricing-your-info-products","tag-set-prices-for-your-information-products"],"_links":{"self":[{"href":"https:\/\/stephenbrownsblog.com\/index.php\/wp-json\/wp\/v2\/posts\/1725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stephenbrownsblog.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stephenbrownsblog.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stephenbrownsblog.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stephenbrownsblog.com\/index.php\/wp-json\/wp\/v2\/comments?post=1725"}],"version-history":[{"count":0,"href":"https:\/\/stephenbrownsblog.com\/index.php\/wp-json\/wp\/v2\/posts\/1725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stephenbrownsblog.com\/index.php\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/stephenbrownsblog.com\/index.php\/wp-json\/wp\/v2\/media?parent=1725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stephenbrownsblog.com\/index.php\/wp-json\/wp\/v2\/categories?post=1725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stephenbrownsblog.com\/index.php\/wp-json\/wp\/v2\/tags?post=1725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}