Patric Chan's Official Blog

So, let’s say you have your own ebook.

Now you have to decide how much to charge for it.

Finding the right price is essential to the  success of your product. I mean, the success of how profitable it can be.

If you charge too little, people will think it’s of little value, and they won’t purchase it.

Or even it they do buy your book, you will have to sell thousands of copies to get to the point where you can begin to see a huge profit. But that doesn’t really matter because with the correct marketing strategies, you can definitely sell a lot of copies.

If you price it too high when compared with your competition, you will find yourself having a steep competition. Of course, if you lose, you end up with nothing in your pocket.

Another problem with selling your ebook at a high price is you’ll have a tough time reducing it in the near future.

For example, if you sell your ebook at first for $47.00, and later reduce it to $27.00, don’t you think the people who bought it for $47.00 are going to be unhappy and disappointed (Or maybe angry)?

The first rule of pricing ebooks is to never underprice.

The price should be aimed at bringing in profits, but you should never forget that price is one of the factors that  eople use in judging the value of your ebook before they buy it. So always start with the lowest price that you can still make a healthy profit and then increase it gradually if there’s a good demand for it.

Pricing an ebook is particularly difficult because ebooks are intangible. Since they are digital, the value of an ebook is as confusing as the understanding of what digital actually is to the average layperson. That’s why, you’re selling the PERCEIVED VALUE of it.

Your ebook is actually information. It is the information in these books that have the ability to change, or possibly transform, people’s lives.

What solutions can it offer?

It is the information that are valuable! That is how you determine the cost of your ebook.

If your ebook contains valuable and more importantly NEW information, references, or techniques, then you should aim to price it on the high end.

For example, does your book solve a particular problem?

If it does, and solves it in a way that hasn’t been written about in one hundred other ebooks, you will be able to achieve high sales at a high price.

Just make sure the question or problem that your book solves is one that is important and relevant to the majority of your market audience. If your ideas are not common knowledge, or you are presenting a brand new technique, you will be able to sell books at a high price. Just be prepared for your competition to undercut you on price as soon as they hear about your book.

If your book is aimed at solving one particular problem rather than general advice, then you can charge more.

An effective technique for figuring out a price is to send out a survey to your current customers or subscribers. If these customers have already bought an ebook from you, ask for their opinion in terms of price. Of course, the results can be biased.

Another strategy is to test out prices by running a split-test. In a split test, you divide the traffic equally amongst two versions of your salesletter to see which version produces the most ebook sales. This will tell you what your optimum price is.

Lastly, the price for your ebook depends on the online niche business as well.

Like, you can sell for a higher price in the “how to make money” niche market. I’ve seen ebooks sold for $97 that teaches the reader to make money from internet and etc but I’ve never seen an ebook teaching dog owners to be better dog trainers for that same price.

Happy pricing your ebook.

Warmest regards,

Patric Chan
www.youchandoit.com