The magic price to market your ebook.
Below is a MRR and PLR article in category Internet Business -> subcategory Ebooks.
The Magic Price to Market Your eBook
Discovering the Perfect Price Point
Have you ever noticed that many TV products are priced at $19.95? Or that car dealerships often advertise deals like $199 down and $199 a month? There's a fascinating strategy behind these figures that you can use to market your eBook effectively.
Understanding Consumer Psychology
The pricing trick lies in avoiding certain psychological "alarm bells" that trigger at specific numbers. For instance, while a $20 price tag might make buyers hesitate, $19.95 feels like a bargain, prompting quick purchases. Sales data supports this: slightly undercutting a round number can significantly increase sales in certain channels. However, this doesn't work everywhere.
When shopping in person, people often prefer rounded prices. A friend of mine who sells knockoff tennis shoes at flea markets discovered that $20 is the sweet spot. If he charges more, customers say they might as well go to a retail store. Charge less, and they doubt the shoes' quality.
The Magic Number for eBooks
For eBooks, the ideal price appears to be $7. You've likely seen this price repeated across several websites. Somehow, $5 seems too low, and $8 too high. But does the reason really matter? What matters is finding what sells and sticking with it.
Why $7 Works
While $5 might be perceived as too cheap and potentially low-quality, $10 enters a higher psychological bracket. It’s all about finding a balance that feels like value to the customer.
Conclusion
As marketers, our job is to identify these "magic" prices and utilize them to maximize sales, rather than question them. For now, $7 is the ideal price for an eBook. Embrace it and watch your sales grow!
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