how-to-launch-a-digital-product-business
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HOW TO LAUNCH A DIGITAL PRODUCT BUSINESS<br />
Pricing Your Product: How Much?<br />
Pricing will also have a big impact on your sales and this is again<br />
something you need <strong>to</strong> think hard about. Of course pricing high will mean<br />
that you have more profit per sale but will also result in fewer sales. Pricing<br />
low meanwhile will mean you get lots of sales but don't get very much from<br />
each one.<br />
Your target demographic and the nature of your <strong>product</strong> are going <strong>to</strong><br />
impact greatly on the price. A commercial app will sell for much less than a<br />
piece of B2B desk<strong>to</strong>p software. Likewise, a video course for personal<br />
trainers will sell for more than a 5,000 word eBook for losing weight. The<br />
best way <strong>to</strong> get an idea for <strong>how</strong> <strong>to</strong> price your <strong>product</strong> is by looking at<br />
competi<strong>to</strong>rs' <strong>product</strong>s. You might think they're priced a little high in some<br />
cases, but if they can do it – so can you. Often you'll be surprised at just<br />
<strong>how</strong> much people are willing <strong>to</strong> pay for <strong>digital</strong> <strong>product</strong>s.<br />
Of course you can also try changing your price <strong>to</strong> see if that has an impact<br />
on your profits. Tools like 'Optimizely' will let you perform 'split testing'<br />
which basically means creating two versions of your landing page at two<br />
different price points and then seeing which one performs best!<br />
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