I’m going to go ahead and make a prediction here… regarding the ‘Great Pricing Debate’.
It’s not going to end.
It’s something that will continue to be a topic of discussion. There are a plethora of posts, guidelines, and metrics to work through to come up with the ideal price.
I’m going to go in a completely different direction here and tell you it that coming up with your price (for your product or service), doesn’t have to be quite so scientific or daunting of a task.
We’ve been around this ‘internet marketing’ space for a while.
A LOT has changed.
Some for the good, some for the bad.
Fortunately the bad doesn’t usually stick around too long.
We’ve had our fair share of ups and downs, but at the end of the day it all comes down to value.
Because we both come from the WordPress space, we’ll use that as an example. For what it’s worth, that space is slowly changing. Just because WordPress is open-source software doesn’t mean all the products and services that have built a business using this amazing platform should be free too.
Unfortunately not everyone feels the same way.
Which is why you see great plugins and themes go bye-bye.
Maintaining software costs MONEY.
Why on earth people think it should ALL be free is beyond me.
People get pissy at an annual plugin renewal license. ANNUAL you guys. This means you only pay ONCE a year.
If you can’t afford to pay for a plugin renewal license once a year then you don’t have a business (or a profitable business).
What is so fascinating about this is that many of these plugins and tools can make you MONEY. Maybe not directly, but if you’re using them correctly you should be able to measure the effectiveness of that plugin (and why you’re using it).
When you shift over to the space of Marketing?
WHOLE different ball game.
People who know how to successfully market their products and services understand that this is simply a cost of doing business. They don’t hesitate to spend hundreds of dollars a MONTH on tools that will help them achieve their business goals (and let’s not forget that all of these things are tax deductible).
Here’s the thing though…
You have to have a big enough audience to sell to.
Regardless of what your product or service costs.
At the end of the day, sales and conversions all come down to ONE thing: numbers.
If you look at it from a basic math equation it removes the sting out of it (that feeling of launching something and no one buys? Yea… it kind of sucks). If you look at it solely from the perspective on having a good audience that loves you and wants your stuff, you can’t go wrong. It’s not necessarily just about the size of your list or audience, it’s about your relationship to that audience.
If they’re brand new do they really know you very well? How much do they trust you?
We keep reminding ourselves that this is the marathon (Freedom Papers). We’re in this for the long haul and want to build a solid relationship with our audience. Not simply have a large list to sell to.
Not our style.
All of this ties directly in with your pricing.
Don’t get caught worried if someone tells you your price is too high… your product or service probably isn’t for them (yet). You obviously need to be in line with what the market will bear, but if you’re providing value and have a real connection with your audience… they WILL buy. It just might take longer than you thought.