How Do You Know If You Have Priced Your Ebook Right ?

Part 3
(click to see the video)

Sometimes you may choose to do things a little differently. You might have a newsletter and you want to give an extra value to those that get the newsletter-you give the ebook away free as an added bonus. Give the customer more than they expect and you have a customer for a long time because they know that you give a great value with everything that you do.

This is a way to find out if you have chosen a good price. Do a test market with two different prices. For example: in one you might choose $19.95 and in the other $21.95. Make sure that you can track the ads. Do not put then in the same place, like next to each other in Craig's list. One might be in a newspaper ad and the other one online. Choose the one that does the best from the test market. In your test market the one that is highest in sales keep using that ad and where you placed the ad as you bring out the ebook. So even if you put an ad in the paper you are sending them to your internet site to get the ebook.

If your ebook contains valuable and more importantly NEW information, references, or techniques then you should aim to price it on the high end.

After you figure out your goal, you must figure out what your audience's need is for your ebook. For example, does your book solve a particular problem? If it does, and solves it in a way that hasn't been written about in one hundred other ebooks, you will be able to achieve high sales at a high price. If your ebook solves a problem or answers questions in a new and unique way, you should price your book as high as you can go. You will achieve larger profits this way, but bring in fewer customers. Just make sure the question or problem that your ebook solves is one that is important and relevant to the majority of your market audience. If your ideas are not common knowledge, or you are presenting a brand new technique, you will be able to sell your ebook at a high price. Just be prepared for your competition to undercut you on price as soon as they hear about your ebook.

Keep in mind that the above pricing strategy is temporary. Eventually, you will cease to sell ebooks at this high price. So figure out in advance how long you plan to offer your ebook at this high price, and when that time is up, change your pricing strategy. Put it on sale for a limited amount of time.

If you want to see larger profits over customer draw, aim for an audience that is looking for easy solutions to their problems at a low price. If your ebook is aimed at solving on particular problem rather than general advice, than you Can charge more. Start at the highest price the market will bear to bring in the largest profits, and plan to discount the ebook a number of times throughout the year.

As you can see their are many different ways to choose the price. Do your test market. choose the system that will work for you and the goals that you have. Is it bringing in the most amount of people as you can? Or the greatest amount of money? Make sure it is of value to the customer and they will come back for more, again and again.

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Dan and Deanna "Marketing Unscrambled"