Joined: 18 Aug 09
19 Apr 13 7:09 pm
Also, you might consider raising the price of your product. If your product solves a big problem, then people will gladly pay a higher price.
There are certain price tiers that are good rules of thumb.
For example, if someone would pay $20 for an ebook, they would probably also pay up to $47 for that same product.
If someone would pay $60 for a product, they will probably also pay up to $97 for that same product.
Split test your pricing. Charge what you are worth. And remember, never compete on price unless you want to race your competition to the bottom.
I charge 3 times what others in my market charge and that doesn't stop us from making money. Our customers are higher quality, and we don't have to manage as many of them as we would if our product was priced at the standard rate.