Interesting conversation going on in a previous post - Price Points: $47… , and it’s an issue that all information publishers must eventually face: How to price your eBook.

So of course, in my quest to gain as much knowledge on this as possible, I went trawling across the web and came upon an article titled (take a guess) … How to Price Your eBook.

I urge you all to read it, but let me pick out some choice sections and make some comments.

Finding the right price is essential to the success of your product. If you charge too little, people will think it’s of little value, and they won’t purchase it.

It’s true. Although we all love a bargain, within our sub-conscious, we expect to pay a higher price for a higher quality product. So, in effect, you might have the highest quality eBook on a certain niche going around. It might have dozens upon dozens of expert tips etc., But if you market that eBook as THE eBook of choice for that niche and charge a low price of say $9.97 … then you’ll more than likely lose sales.

The mind says: How can he claim it’s the best eBook on my topic going around and charge so little. Somethings up! Next! And it’s a lost sale.

Choosing the right price for your ebook is one of the most critical parts of the marketing process. The first rule of pricing ebooks is to never underprice. Determine the highest price your audience can afford, and then if you find your book isn’t selling, you can always reduce the price. Before you take that step, make sure you are promoting your book like crazy on the Internet and on websites.

And that’s where getting the right balance comes into play. You want a fair price for all your hard work but you don’t want to go for the easy money grab. You want customers for the long-term. You’d love to keep your price lower and sell more. And so on …

Your essential job is matching the price with the perception you are building for your eBook (or eProduct) … you are working on that perception, aren’t you? The way you mould your whole package: the actual product, the sales page, the whole marketing process goes a long way in deciding what price you will be setting.

Pricing an ebook is particularly difficult because ebooks are a fairly new commodity. Since they are digital, the value of an ebook is as confusing as the understanding of what digital actually is to the average layperson. This means that we must look at ebooks in a different light in order to determine their actual worth in this brave, new cyber world.

Yes. Yes. Yes.

That is the whole reason why we are all having this discussion. The fact is we (your potential buyers) are all trying to get our heads around the fact that we are not paying for a physical product. We are paying for ideas. It’s totally different to how we’ve purchased before. How we’ve been raised. With eBooks you will not get something to hold in your hands. The job of the information publisher is to change the mindset of the buyer. You are not paying for the smell, the look and feel of a book. You are buying information and that information comes to you digitally.

Have a read of How to Price Your eBook and let me know your thoughts.

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Further Reading:

• Top 7 Ways to Price your eBook to Sell
• Setting the best price for your ebook for maximum profit
• How to Price Your eBook so that it Sells and Still Makes a Profit!

Note: Apologies for any ramblings on or wayward clarity in this post - I’ve got a nasty flu.