Coaches, Are You Pricing Your Products Wrong?

Coaches, are you confused about how to price your e-books, teleseminars and other information products? Do you set a random price hoping that this turns out to be the "magical" price that your customers are willing to pay? If you answered yes to this question you are losing a lot of money because you didn't price your products correctly.

Finding the right price for your information products is one of the most important business decisions that you will make. Many coaches make a huge mistake by setting the wrong price for their information products and are losing thousands of dollars as a result of this decision.

Many coaches spend little time deciding on the price for their information products. Having spent countless hours researching the product, creating it, editing it and setting up a shopping cart for it, the coaches are very tired of doing all this work. At this point they just want to get their information products to the market and make money.

By the time they need to find the price, they don't spend any time determining what the right price should be. Instead, they just pick a random price, put it on the web site and start selling the product.

Not taking the time to price a product correctly is a common mistake that many coaches are making. When you set your information product price too high, too few people end up buying your product, and you lose sales.

Many coaches, though, set their product prices lower than they should, and end up losing a lot of money. If you set your product prices too low, you will need to sell too many copies to generate a reasonable profit. For example, if you have written an e-book that you price at $10, you will need to sell 10 e-books to make just $100. If you price the same e-book at $50, you will need to sell just two e-books to get the same $100.

There is another reason for not pricing your products too low. It is the perception of quality of your products. When your e-book's price is too low and it seems that your offer is an incredible bargain, your potential customers will wonder if your product is a quality product. Can you really produce an excellent product for a very low price? If you sell an e-book for $10, but your competitor sells something similar for $50, people will think that your competitor's e-book is of better quality simply because it costs more.

Before you start selling your product, do research and set the price correctly. Doing this will help you maximize your profits and make thousands of dollars with your information products.