Pricing Your Product

Pricing a product can be one of the toughest and most finicky components of product development. You don't want to overprice your product, but you don't want to undervalue your product. Digital products should be kept anywhere from $0-$99. The general consensus is that people can afford products that are within this price range and impulse buys typically occur within this price range.

You also don't want to keep moving your price around once you have already put in on the market. This will create unhappy customers (and affiliates). You should perform a certain level of research on your industry, what other products are selling for, and the value your consumers will receive from your product. From this you should have a pretty good idea what price your product is worth, and what you can sell it for.

Why do many product prices end in a number 7? This is because research has proven that the number 7 converts higher than the number 9. We have tested both and have noticed that the 7 does convert at a marginally higher rate than the 9, but this does vary on the industry and to what countries you are promoting to. Many marketers have a different view on which converts better, but we suggest that anything ending with 7 is a good start (i.e.: $67).

The last thing you should remember is that you do not want to price your product too low. If you price your product below its actual value, it will take away from the product. If it is worth $97, sell it for $97. If it is a product of quality, people will buy if it is priced correctly. Often times a low price will indicate that the product is of low quality and actually prevent someone from purchasing it.