Tuesday, September 4, 2012

Product Price is Important

While out of town this weekend, I spent a lot of time thinking about this new sales page that I wrote up for my first eBook series.

This would be a great scenario to achieve:

  • 10,000 monthly visitors
  • 1 percent conversion
  • 100 extra sales/month
The problem with this scenario - in my case - is that this will only bring me an extra $200 a month the way things are currently set up.

This sales page would be a lot more worthy of the time and effort I've put in if I had a higher-priced product to pitch. Accordingly, I've bundled together the eBook series into a complete collection. I will make even more money if I sell it directly from the website, upsell it on the individual pages, spend money to set up a Clickbank or E-junkie cart, etc - and take the retailers out of the picture.

My next bundle product will sell at a much higher, affiliate-friendly price point. Lesson learned! When you're selling a more expensive product, volume and conversions don't matter as much.

I also am figuring out that there is a point at which I have to stop with this project, accept that I've put enough effort into it, and move on to the next one. Do I really want to go this far and put this much work into this project? Will it be worth it?

3 comments:

  1. Interesting thoughts!

    One of the reasons I originally targeted for higher priced book was just that. But then, I assumed I'd need to do all the marketing myself. But as your books show, they sell fine on their own too.

    I'm also thinking of writing couple of free or low priced books that contain link to my page, where I then could sell them a higher priced product.

    So much ideas, only 24 hours per day :)

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  2. That couldn't be more true! I'm getting to the point where I wish I could clone myself.

    Cheap eBooks are a good way to get some money coming in, but I suspect the big bucks lie in the tried-and-true methods.

    I too have thought about doing that for some of my affiliate products. I think it's important to provide value even in that product. Vic Johnson got some pretty bad reviews on a $0.99 eBook he wrote to promote GRwEB. The general complaint seems to be that the pitch was too transparent and not enough valuable info was provided for this paid product.

    (I know I talk about Vic Johnson a lot - I had to do a lot of research to convince myself not to buy that course!)

    -Cindy

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    Replies
    1. LOL, Vic is a sly one!

      I've still to watch the last part of the course, but right now I feel I probably just wasted my money. I'm glad you saved yours.

      There are so many things about ebooks still open to me, like formatting them properly, etc. I did not learn them from Vic's course, since he just mentioned that he outsourced them! But I did download Amazon's own guide, hope the information is there.

      An interesting thing Vic mentioned was that he has about 50% success rate in outsourcing. He often orders the same job from several writers to compensate that. Most of what I got out of his course is little tips like that...

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