Thoughts on Product Pricing

I’ve got 1 product out and have a few others on the mind (need to choose one I know) so this article about pricing products and services is great.

The bottom tier of any pricing grid experiences the highest churn. Intuitively this makes sense; small early stage businesses are more likely to fail than larger established ones. This means that most of the businesses you’re subsidising at the low end are going to disappear. In many cases you won’t ever recover your CPA, let alone ever make any money.

I need to take a look at my pricing again but I do match up to a few of those items already. I am charging a bit more than I was comfortable with at first (my initial price thoughts were $19 and I went with $29).

In all honesty sales have dropped off a bunch to a level that really doesn’t even count. So I need to build out a proper marketing plan to increase sales of my existing book, and then apply it to future products.

Products are not some magic bullet, they are lots of hard work.

photo credit: JD Hancock via photopin cc

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