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

Part 4


Marketing Strategies:

The key that unlocks the sales potential of your ebook is to find a single sentence that becomes your selling handle. This sentence states what question or problem your book answers and the benefits your ebook can provide. Ten be sure to use that sentence in every piece of sales and promotional material, and every time anyone asks you about your ebook.

Besides promoting your ebooks assiduously online, there are several other strategies that can help you sell more ebooks.

One is to give something away for free with your ebook, such as a valuable bonus item. An other way would be to bundle several ebooks under one price, which lowers the price for each ebook if they were sold separately.

An effective technique for figuring out a price is to send out a survey to your current customers. If these customers have already bought an ebook from you, ask for their opinion in term of price. Do this by creating a sales page for the new ebook, but don't include a price on that page. Instead, add a number of links to survey questions that ask pointed questions to aid you in assigning a price to your ebook.

Another strategy is to test out prices by creating a number of duplicate sales pages with different prices on each page. Make sure your sales copy is exactly the same on every page, and includes your selling-handle sentence. Then figure out for each page the conversion ratio between visitors to your site and sales of your ebook. This will tell you what your optimum price should be.

Ultimately, if you've written an ebook that solves a problem or presents a new technique, your ebook will bring in both traffic and profits. So be sure to write that selling-handle sentence that sums up what problem your ebook solves and what the benefits of your ebook will be to the customers who purchase it. And then watch your market come to you!

Don't forget to use offline and online marketing for the sale of you ebook. It will bring in more sales than doing your marketing only online. Newspapers, magazines are some places to place ads offline. Make sure that they are have the web address to go to for the ebook.

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copyright Dan and Deanna "Marketing Unscrambled"

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.

We love to read your comments, please leave them.

Dan and Deanna "Marketing Unscrambled"

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

Part 2 (click to see the video)

It is the IDEAS that are valuable! That is how you determine the cost of your ebook.

What should I charge for my ideas?

There are all different formulas and methods for determining the correct price for your ebook. Let's begin with honing in on your ultimate goals.

Decide if your goal is to get wide distribution and maximum exposure. This goal is aimed at drawing customers to your business or service, or to establishing the credibility of your reputation. If this is your main goal, you should aim to keep your price on the low side. Some authors have even priced their ebooks at a profit loss to draw a high number of new customers. The key is to find a price that maximizes your profits and the number of books you sell.

This is an excellent pricing strategy if you are looking to acquire long-term customers. Long-term customers are extremely likely to buy from you again and again, as long as the first ebook they buy is of exceptional quality and beneficial to the customer.

You could give a chapter or two away with a link in it to upgrade (get the rest of the book.) Make sure it is very good information that they can only get from you. Make sure to leave them hanging so that they will need to get the rest of the book to find out the answers to the things that you have already given them.

More to come tomorrow. For today, please leave your comments, they are great to read.

copyright Dan and Deanna "Marketing Unscrambled"

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

( click to see the video)

This is the new way to read ebooks.

You've written and compiled an ebook. Now you have to decide how much to charge for it. Finding the right price is essential to the success of your product. If you choose too little, people will think it's of little value, and they won't purchase it, or even if they do buy your ebook, you will have to sell thousands of copies to get to the point where you can begin to see profit. If you price it too high when compared with competition, you will find yourself steadily lowering the price, which will cause you all kinds of new problems in the future. For example, if you sell your ebook at first for $39.99 and later reduce it to $24.95, don't you think the people who bought it for $39.99 are going to be PISSED?

Choosing the right price for your ebook is one of the most critical parts of the marketing process. The first rule of pricing ebooks is to never under price. Determine the highest price your audience can afford, and then if you find your book isn't selling , you can always reduce the price. Before you take that step, make sure you are promoting your book like crazy on the Internet and on websites. The price should be aimed at bringing in profits, but you should never forget that price is one of the factors that people use in judging the value of your ebook, before they buy it. So always start with the highest price, and then launch a mega-marketing campaign.

Pricing an ebook is particularly difficult because ebooks are a fairly new commodity. Since they are digital, the value of an ebook is as confusing as the understanding of what digital actually is to the average layperson. This means that we must look at ebooks in a different light in order to determine their actual worth in this brave, new cyber world.

Let's look at the difference between a book in print and an ebook. A printed book is an object you can hold in your hand, store on your bookshelf, even hand down to the next generation. It is priced on factors such as paper stock, and production costs, and marketing.

What do you think an idea is worth when evaluated against the cost of paper and ink?

More to come tomorrow. For today, please leave your comments. We love to read them.

copyright Dan and Deanna "Marketing Unscrambled"