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13. Price Is Right

One of the most frequently asked questions I get is "how much should I sell my product for?"

Pricing is really an interesting thing. What I usually recommend is, start high. You can always drop the price if you need, but it is tough to increase the price without looking bad. Here is how I look at pricing products:

When I am looking to buy something, I spend quite a bit of time researching products. Let's say I am looking for information on how to buy a computer. I find 3 ebooks on the topic which all seem about equivalent in content. One is $5.95, another is $8.95 and the last one is $24.95.

Which one do you think is a better ebook?

I would most likely choose the one that is $24.95. Why? Because I have been ripped off so many times by poorly written information products, that I figure, if I spend a little extra, it will be a better product. Does it always work out? No, but that is how I think when I go to buy things.

Fortunately, I am not the only one who thinks that way! So if you have a product you are selling for just $5.95, why not try to sell it for $24.95 and see what happens. I think you will be highly impressed with what you find. If you sold 100 widgets at $5.95, you would have $595.00. If you sold just 80 at $24.95, you would have pocketed $1,996.00! This one tip alone would have made you an extra $1,401!!

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