...here’s a common mistake a lot of product creators make:
They build this beautiful package of products or create a course, and then they slap a price on it without even giving it much thought. And then they’re surprised when their conversions are poor, or their refunds are high. In some cases, they’re leaving a lot of money on the table without even realizing it.
There are a variety of price points from $19.97 to $997 and higher.
Price Point #1:
What to Include When You Charge $19.97
At this price point, your customers aren’t going to expect much more than a short course. You can add bonuses to your offer to create more value, boost conversions, and make the offer a “no brainer” where your customers recognize the worth of what you are offering them.
Example: If you’re selling products in a weight-loss niche, you might sell a five-day course that introduces dieters to the topic of proper nutrition. You might also include a few meal plans as a bonus.
Recommended: 15-20 page report with three related bonuses.
Price Point #2:
What to Include When You Charge $47
When you get to this price point, your customers are going to start to expect a little more. Here you’ll provide actionable information to help prospects solve one part of a problem.
If you’re selling a course, then your course is going to be longer than those sold at lower price points. Here you might include ten to fifteen lessons. Also, this is a price point where customers are going to expect a higher-value course, such as having the content delivered via video modules.
Recommended: A ten lesson, “A to Z” course on a specific topic with five related bonuses.
Price Point #3:
What to Include When You Charge $97
At this price point, your customers are generally going to expect a reasonably complete solution to one specific problem. And again, they’re also going to expect to have the content delivered in a higher-value format, such as via live webinars or videos.
Recommended: 60-90 minutes of video training on a specific topic with five higher-end bonuses.
Price Point #4:
What to Include When You Charge $197
When you reach this level of pricing, you’ll not only have a comprehensive course or package of materials in place, but you’ll also have plenty of add-ons (such as tools) which add value and help your customers achieve their goals.
At this price point, you can also license content that usually sells for around $40 or so to end-users.
Still, another thing you can sell at this price point is done-for-you services. For example, if you’re selling blogging information, you might offer to install a basic WordPress blog at this price point.
Recommended: 120+ minutes of “A to Z”, “beginner to advanced” training (comprehensive course).
Price Point #5:
What to Include When You Charge $997
At this level of pricing, you’ll need to include a comprehensive video course with valuable add-ons such as more extensive personal-coaching or certification. Generally, this is also going to include your most advanced information.
At this price point, you might offer anywhere from one to six months’ worth of coaching, too.
Another idea: you can sell premium services at this price point, such as the creation of sales letters.
You can also sell ultra-premium licensed content at this price point, such as the offers you usually sell for around $197 to customers. The lower the number of licenses you sell, the more valuable each license will be.
Recommended: Comprehensive course with 6-weeks of personal email coaching.
To find out what YOUR price point is, I have a free course, “What Should I Charge?” It’s 54-pages of amazing tips and checklists to find out what YOUR price point is.