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My thoughts

The Art of Pricing

June 1, 2014 — by Adam Hunt0

Couple of days ago I had a chat with a friend of mine about online business and I suggested to him he should write an eBook. He is in the real estate business, so the eBook could be for up and coming real estate agents who want to get into the game but have no idea how. There are a lot of courses that aren’t cheap so he could fill a gap. If he was to sell it for let’s say 10-20 bucks, I think he could make it work. Because what does he have to do, really? Write it once, create a simple landing page and let it live its own life. There is no support, no follow up, nothing. So this could be a source of income. In other words, if he won’t do it, I’ll do it.

Now this gave me an idea

I have a little website about currency trading and rather embarrassingly, I haven’t added any posts or done anything with it for the last 2 years. Even the hosting is on my friends’ server, so I never had to pay any monthly fee.

And maybe because of that, I haven’t had a chance to mess it up so it ranks quite well for many keywords and surprisingly, the visits go up every month without the bounce rate changing.

There is a part of the website that is called “School of Forex”. It is free, obviously and there are 20+ posts. I decided to make the first three lessons available for free and then have the rest for sale. I’ll see how that goes and let you know.

This brings me to the point of this post. What should the price be? It must be cheap, so people won’t steal it and it will be rounded up. MOST DEFINITELLY

I’ve noticed recently a bad trend that really winds me up. I know it’s all to make more sales, but frankly, I think it’s little insulting. What I am talking about is the price of online products.

Here we go (rant coming up)

Why is it always some random number and why is it never rounded up or down? It’s always 47, 17, 97, 67, etc. It’s never 10, 50, 100 or even 25, 35, etc. What’s wrong with these numbers? But the worst part about it is when they talk about things like “only xy available” or “this many copies left”. It’s a damned online product; therefore there is an infinite number of copies… This I find insulting, because obviously, the owner thinks I am stupid and will fall for it. Well I won’t and when I see something like this, I immediately lose interest.

Another thing that is more than anything, laughable, it’s when they say that the price is i.e. 47USD, but it’s worth 997USD or something like that. Based on what? How the hell do they determine what an online product is worth? It’s just a random number. And why such a big discount then? Or any discount for that matter. Is there something wrong with it?

Frankly I would be embarrassed to claim something like that, even if it meant I’d make more money. Because if it is worth 997USD, then sell it for 997USD.

This takes me back to my eBook. It will cost 20USD because it’s worth 20USD. I am not going to bother with testing the price and insult my readers. If I ever decide to create a video series about paid traffic, which I am thinking about, the price will be rounded up and the price will be based on how much time I spent creating it. No discounts, no stupid claims, nothing.

I believe the time has come to be honest and not chase every penny there is. Your or mine readers aren’t an ATM machine. Don’t think of them as your wallet, please.

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