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General Guidelines | Article #244 :WHAT DO I CHARGE FOR THIS THING-A-MA-BOB?

Well, you’ve just finished your masterpiece. It took you forever to get it all together. You spent 3 months on research alone. Then of course there’s the cost of putting it all together.

Let’s see, we have…

Sales page cost - $800
Graphics cost - $500
Time Spent at $50 per hour – Okay so I can’t count that high.

The point is, if you charged people for what this thing-a-ma-bob was actually worth, nobody would be able to afford it.

So the $64,000 question is, if it’s even worth $64,000 as a question, what DO you charge for your latest masterpiece?

Well there are a couple of ways to go about this process.

The first way is to look at what it is you’re selling. Certainly, unless it is a totally new concept and there’s nothing else like it around, there are going to be similar products. Go and find them. Look at their sales pages. Look and see what their products are going for. You have to do this for more than one product because you want to get a price range.

For example, let’s say you created yet another ebook on Google Adwords. Okay, fine. What you need to do is go around the Internet and see what the other Adwords books are going for. An easy way to do this is simply to go to Clickbank, to the marketplace section, and look up the keyword “Adwords” under either marketing and ads or money and employment.

If I do this right now as we speak and just look up a few titles, these are the titles I find at the top of the marketplace and the going prices.

Beating Adwords - $67
Google Money Pro - $97
Adwords Confessions - $95
Google Cash - $67
That’s good enough to give us a decent idea of the price range. That’s actually quite a range there. We’re talking about $30 difference between high and low end products.

So, what do we charge for ours? Well, it’s a pretty safe bet that if we have it fall somewhere between these numbers, or even using the upper and lower end of them, we’ll be fine.

How do we know this?

Because these products I just looked up are some of the top selling products at Clickbank. So, if they are top selling then obviously these prices are considered not too high or low.

You might be wondering how a product can be too low. Easy: If a potential customer sees a price that they feel is too cheap, they may feel that the product itself is cheap. I kid you not. Some people won’t buy something if they think it should cost more. So you want to price the product just right.

The second way to go about this process is simply to go with your gut. If you think that your product is truly going to be better than any of the ones already out there, then charge more for it. Certainly charge whatever you think it’s worth.

Now, as far as keeping the price you’ve chosen, that’s another subject altogether that we’re going to leave for another time.

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