Information Marketing: Setting a Price for Your Product
When you’re new to an industry without a lot of experience or credibility, determining a price for the service you are providing can be a tricky procedure. Luckily, there are three secrets to charging more for your products.
As the President of the Information Marketing Association, I get questions from info-marketers who have questions and are trying to launch their infopreneur business in our members’ forum. Here is a question from one of our members in Las Vegas, Nevada about how to charge more for your product even with limited experience. Since this is a common question, I decided to prepare an article about this challenge to help you.
The first secret to charging more for your product, is simply that, charge more. You should avoid selling yourself cheap because it ruins your ability to over-deliver for your clients and limits how much you can do for marketing. What you think you can charge, you may be able to multiply it several times. You have to make sure you always over deliver on your promises, but don’t make promises for cheap prices. All that does is over extend yourself and create stress in your life.
The second secret for charging more is finding the right niche. Rather than trying to be the general guru in marketing, be the person who generates traffic to websites and websites that generate leads within niches. Try and think about what industries have money and are willing to pay for leads, and what industries your best customers are with. Specialize and get an understanding of a certain type of customer and then you’ll never have to worry about competitors again.
The third secret to charging more is to generate more leads yourself. The reason people can charge more is because they are marketing more. They have more people coming to their websites and that increases their chances that someone will show up and jump at the chance to hire them. For you, this means finding out what you can do to increase the flow of your best customers coming to your website. You have to decide what you can offer them to come and what you can offer that will get them engaged.
Always remember, it’s not about you or even about your product; it’s all about your customer. What secrets, insights or problems you have solved they desperately need and want. Once you know that, it’ll be a lot easier to deliver what they want and charge premium prices.
There have never been greater, more diverse, more lucrative opportunities for everyone—experienced, successful entrepreneurs to rank beginners—in the field of information marketing. If you can name a topic, there is a market for providing information about it. People buy information about almost everything—from hobbyist topics like dog training, to business topics like how to sell over the telephone, to self-improvement topics like fitness walking. The key is to find a responsive market and then package information that customers want in convenient forms such as DVD’s, books, e-books, CD’s, magazines, websites, teleseminars, webinars, coaching programs, seminars, and conferences. Watch a free video revealing how several info-marketers created their products and became infopreneurs at www.InfoMarketingStartup.com.
Robert Skrob is president of the Information Marketing Association with members marketing products in hundreds of different business categories. The IMA offers newsletters, how-to courses, business resources, and coaching for its members. For information on how you can create an information marketing business, visit www.InfoMarketingStartup.com.