Let me ask you a question. The last time you set in motion your own product to sell on the net, or even offline, how did you come to a conclusion about what price you were going to be distributing at?
At a guess, I’d likely say you looked at the rivalry to see what they were charging. While this is a great beginning, it’s far from the whole picture, and you’re fumbling in the dark if you looking at rivalry is the only component you’re taking into account.
Do you understand you are able to double your sales volume by doubling your price? I’ve done it myself, and I’ll demonstrate how. Do you also understand that 99% of the products I see being sold are too cheap. So much so, that they’re putting buyers off rather than attracting them (which is no doubt what they think they’re doing).
Let’s drive out some pricing myths and dig right down to the real facts to ensure you get the most money in your pocket the next time you set in motion one of your products.