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Make Money Online - Write and Sell EBooks Guide: A Work from Home Internet Business Writing, Selling EBooks Online
This is an a-z blueprint that anyone can follow to start an internet business through writing and sell ebooks and converting to physical book and selling on Amazon.
Pricing your eBook too high
This has several disadvantages, both with copies that you do sell and copies that you donít. Let me explain.
Letís say you find a mini-site that is promoting a brand new eBook. And letís say you really like the look of this eBook. You want to buy it. You want to learn from it and use the information inside it to make your life better in some way.
By the time you get to the bottom of the sales page, where the price becomes apparent, you are sold on the eBook. Youíve practically got your credit card out and youíre looking for the pay now button.
And then you see the price.
And unfortunately there is no way you can afford it. As much as you want to get the eBook, the price is probably double what you could justify paying. So you have to pass it up.
This scenario happens often because some authors are intent on getting the most money they can for their product. Now itís fair enough that you want to make a nice chunk of change for your efforts, but if you price it out of the market you are aiming at, it wonít sell.
Think of it like this. Would you consider taking a Porsche into a run down part of town to try and sell it? Of course not, because the product doesnít match the market. But youíd probably sell a less ex-pensive car without any problem.
When you are thinking about setting the price, think about two things:
ē What you are offering?
ē Who you are offering it to?
Those are the two main points you need to think about with each eBook you write.
If you have written a comprehensive eBook about making money online, youíll need to think about who it is aimed at. If you have aimed it at people who have already had some success, you could probably charge more for it than you would if you were aiming at people who wanted to get started on a shoestring budget. If they donít have the money to invest in getting started on a large scale, they wonít have a large sum of money to invest in your eBook either.
Pricing your eBook too low
Your eBook can actually sell fewer copies if you price it too low. It sounds amazing, but if you have ever had a browse around eBay or any other auction site online where you donít see the goods before you buy them, what is your reaction if you see something selling for a very low price?
The perception is often that the product is cheap and of poor quality, and that perception is there for eBooks as well.
So how much do you charge?
There are two beliefs I want to share with you here:
ē I firmly believe that every eBook has its ideal, perfect price.
ē I also firmly believe that in most instances you will need to experiment to find out what it is.
Determine a starting price by taking a look at what other people are charging for similar books on ClickBank and on Amazon.
You also need to be honest with yourself about the quality and value of the content you are providing. If you followed the steps I shared with you in this book, you will probably have written some-thing that is unique and provides valuable content.
Always, always, always, make sure you start at the highest price you think the market will pay. If you start it low and then try and put the price up later on, youíll lose loads of people who might other-wise have bought it. And with ClickBank, once your product and price are approved you can lower the price, but if you want to increase the price you need to submit to ClickBank for approval again. If you start high and lower the price, you will attract at-tention, not divert it.
The exception to this rule is known as something of a marketing gimmick that big eBook sellers often use. This occurs when they set their price lower than they intend to, with the caveat that it will go up at some point in the near future to another specified price, or they have a one time offer (OTO) that they will increase the profits of the transaction. Another strategy is using the low ball price to collect email addresses for future product sales using email marketing.
But you can never be sure what your optimum price will be. I read a story recently where the author revealed that he had tried selling his eBook at several different prices. Weíll call them high, medium and lowóthe actual amounts donít really matter.
What he found was that the low price attracted too few orders because people thought it was too cheap. There has to be some catch, surely, they must have been thinking. Remember what we found out above?
The high price was simply too high, so in the end he settled for somewhere in the middle. And in fact that was the price that buyers paid most readily. It was obviously high enough to give the impression that the book had value, without being too far out of that marketís price range.
Have you ever noticed that many products on ClickBank and other venues sell for a price ending in 7 and 9? In the marketing world it is a known fact that products ending in 7 and 9 outsell other prices. So price your book at $47, or $37.97, or 97, etc.
So be prepared to experiment to see what works best for you. And donít be afraid to try a higher price initially because it could be just what the market will bear.