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Get Three Internet Marketing Ebooks
Absolutely FREE!
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Get Three Internet Marketing Ebooks
Absolutely FREE!
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Ebook Pricing
Strategies For Internet Marketers
by: Kevin A.
Koop
Pricing an eBook properly can be a real challenge.
The whole concept of an eBook is still fairly new
and no one seems to agree upon the importance eBooks
will play in the future.
The fact that the product only exists in the
"digital realm" further complicates the issue. While
it's a good problem to have, there is a large amount
of web-surfers out there who don't know what an
eBook is and haven't purchased one yet. That being
the case, you have to spend a little time explaining
what an eBook is and how it's acquired in your
marketing.
Let's look at the difference between a book in print
and an eBook. You can hold a printed book in your
hand, store it on your bookshelf, even hand it down
to the next generation if that is your desire.
eBooks, on the other hand, are valued by the quality
of the information they possess and by the speed and
ease at which this information can be acquired. This
is good news actually, as many
eBook authors routinely get between $27 and $47
for a work they would probably struggle to get
$19.95 for at a traditional bookstore.
Choosing the correct price-point for your eBook can
greatly increase your marketing efforts. You
generally don't want to under price your product or
it will probably seem cheap and lacking in quality.
Don't believe me, just do a search for "eBook" on
eBay and find out how many sellers are selling
eBooks for 99 cents! Yeah, they're mostly, “Resell
Rights Products” and not original works of the
individual eBay seller but still... Who really
believes they are going to get a high-quality
product for 99 cents?
On the other side of the coin, you don't want to
overprice your work as it's not likely you'll make
many sales. The other problem with overpricing is
that it's almost impossible to reduce your price
without suffering a huge blow to your reputation.
The buyers who purchased, and put their faith in you
at the higher price are not likely to sing your
praises when they find out that others are buying
the same item for less.
Big-Ticket items can certainly put a lot of money in
your pocket but you still have to make enough sales
to experience the power of word-of-mouth
advertising. It's the viral effect of marketing that
can absolutely explode your profitability!
So then, what's the answer? Well, I'm not saying
it's a perfect model, but here's a simple formula:
Research your market and find the low-end, average
selling price of your competitor's products. Make a
time (or quantity) sensitive offer and price your
product at, or slightly below, the figure you found
in your research. Also, include more (and better)
bonuses than your competition.
If your
sales letter is good, you'll likely make the
sales you desire. Once the initial offer is over,
raise the price as promised and let your new
visitors know that you've raised the price in the
past and will likely raise your price further in the
near future.
Offer more and better bonuses than in the previous
offering to further justify the price increase. If
all goes well, you will probably sell a smaller
amount of units but will experience greater
profitability.
If you find you need to reduce the price, however,
remove some of the bonuses originally offered and
make a "light" version available. This way, you
won't alienate your previous customers who paid
more.
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Kevin A. Koop is a
full-time Internet Marketer and the creator of the
Article Domination Method, the Article Writer's
Cheat Sheet and a special report on Pay-Per-Click
Advertising entitled:
Free PPC Update
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