Tag Archives: pricing

Smart Passive Income #152 – Numbers or Beeing Quniqe

Pat really likes numbers, and to mix them in ways any mathematician would be jealous. (Multiply pi by two and again with the radius of a circle, … voila, that’s the way you become rich … sorry, kidding …)

Three tidbits of “today’s” post:

  • People buying from you once will likely buy from you again (… in other words, it’s easier to satisfy an existing customer, than to get a new one)
  • Optimize the “dollars earned per customer” buy finding the optimum price for your product (not too cheap, not too expensive, … which is actually quite difficult …)
  • You don’t need a lot of customers to become successful (if you product sells for the “right” price)

… and two approaches to achieve what’s said above:

  • enter a popular market, and gain a market share using an unique angle
  • specialize in niches (where you might not have to fight with that many competitors, but still need an unique angle)

… or to summarize: BE UNIQUE

Facebooktwittergoogle_plusredditpinterestlinkedintumblrmailFacebooktwittergoogle_plusredditpinterestlinkedintumblrmail

Flattr this!

By Marshall Astor from San Pedro, United States [CC-BY-SA-2.0 (http://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons

SPI #76 & #77 – Monly Income – Pricing eBoooks

Pat’s income for March 2009 is still growing, and has reached more than 25.000 USD.

Back to ebooks, Pat discusses pricing. Check out the prices of books with content similar to your own. If you are going for higher prices than your competitors, you need to communicate the reasons to your customers. Same for going cheaper, you do not want to loose credibility (Why is the book so cheap? Because it is not worth more?) … and like before Pat calls selling to cheap “loosing money” …

Depending on your distribution scheme you might have the possibility and want to “play” with the price and see which price is best … Nevertheless, to get reliable data from that, you need an high enough number customers, otherwise the changes you see might be pure statistic fluctuations …

… additional SPI secrets from Pat …

Facebooktwittergoogle_plusredditpinterestlinkedintumblrmailFacebooktwittergoogle_plusredditpinterestlinkedintumblrmail

Flattr this!