Offering a lifetime subscription to a membership is seen as a way to increase sales, but is it a good idea? When can you use a lifetime membership, and when it is a REALLY bad idea?
How do you figure out the best price to charge for your digital product or service? This guide covers the psychology of pricing, how it affects conversion, how it affects YOU, and your relationship with your customer.
Until you make your first offer and name your price, you haven’t even really gotten to the starting line. Your offer is the starting line. Give this episode a listen. It is important if you ever intend to make your blog the crux of a full-time income.
Figuring out your price for your product is usually a touchy subject. What if you price it too high and nobody buys it? What if you shoot too low? This is an episode you might want to have a note paper handy for before listening.
In the world of internet marketing, you very often see people price their products with prices that end in 7. $7…. $27…. $97…
Why do they do that? Is there some hidden psychological reason for this?
The answer is no, and this episode goes into it.
This episode describes the typical situation people find themselves in – and then walks step-by-step through the pre-sales process and how to do this for yourself.
In terms of techniques to drive sales, the most common one out there is the low-ball the price. Put it on sale, offer a discount, put out a coupon. And sure, it works. For awhile. Until it doesn’t. See, low prices is really lazy marketing. And if you end up relying on it too much, it puts your business into a poor position. That said, there IS a good time to have low prices.
In the first of a series where we’ll be talking about how to set your prices, we’re going to deep dive on the psychological factors that affect pricing – both for your customer… and for YOU.
It is funny how some things just happen because “everybody knows that”. It is one big herd mentality. Nobody is being the leader, but everybody thinks everybody else is leading. And so it is with prices which end in 7. In the internet marketing field, people just end their prices in 7 as a reflex…
If you want to see if people like your potential product, should you give it to them for free to get their feedback? No, and this post will show you why that’s a bad idea.
The Morning WP is a weekly newsletter for solopreneurs building on the WordPress platform. Become a smarter, more self-sufficient WordPress site owner… in just 5 minutes per week. So you can grow your business effectively.
The Founder’s Memo is more personal. More about things I’m trying out. Things I want to share. Strategies and insights and things I’m excited about. There aren’t multiple sections. No “latest posts”. None of the fancy newsletter-y things. Just… an email that I write and send to you and I hope you find it useful.