Video 9 - Pricing Your Short Reports Over and over again, the same question comes up in regards to selling a sub-niche special report: How much should I charge for it? Having created over 75 different special reports, products, services and other information based materials, I can say with great certainty… I’m still no expert at pricing. There are all kinds of formulas for determining price that we won’t go into because most are more confusing than they are useful. Let me sum up what I’ve learned in the many years I've been online – and what I go by in pricing my own materials. There are three simple “rules” that, to me, govern the amount you should charge for your special reports. Rule #1 – Your content is the most important factor in determining your price. You can pretty much answer “how much should I charge for it” by answering “how much is it worth?” Think about it: How much would YOU pay for 10 pages of a special report. Well, that depends, of course, on what the report is about. If it’s 10 pages of “how to mud-wrestle an angry crocodile”, then chances are you wouldn’t pay much for the report. On the other hand, if the 10 pages contained a list of the next 20 winners of the World Series, the information would be quite valuable to you and the amount you’d spend for it would bear this out. Your content is the most important factor in determining your price. If you’re W.P. Allen and you demand a $20 million a year contract with the Yankees, you’re out of luck because you can’t deliver enough value. However, if you’re the hottest free agent on the market and you demand that contract, you just might get it because you CAN bring that value to the table. The point is this: How much you charge for your report is going to depend upon how good the report is. Can you deliver the goods? Rule #2 – Your competition’s inadequacies help place a premium on your content. Listen, if you’ve got something that works which others don’t have, that’s gonna have a big impact upon the price (and demand!) of your special report. Few people will buy a special report on something of interest to them if it’s the same old thing they’ve already read a thousand times before. But, if you can prove that you know some secret, have some special insight, possess some short cut, can point to some advantage that your competition doesn’t have, then your report’s “value” just went up a few more notches. What’s missing from your competition’s products and services that you have in your special report? Focus on that and you’ll find customers focused on you! Rule #3 – Your customer’s expectations, buying habits and desires make the final decision. Ultimately, the “right price” is in the hands of your potential customers. They make the final decision as to whether or not they are willing to pay X price for your special report. There are several different factors that influence their buying decisions including: What they reasonably expect to receive from your special report. What they are accustomed to paying for similar offers. How much of a desire they have for your special report at this time. The good news is: You can, to some degree, have influence over all of this. Now, having given you some considerations for pricing – these 3 “rules” – let me provide you with a VERY general “rule of thumb” when it comes to pricing your special report. As a VERY general “rule of thumb”, I price my special reports at around $0.75- $1.00 per page. Here's a graph that better explains my general rule of thumb for pricing... Length Of Special Report Price Of Special Report 7-15 pages 16-20 pages 20-30 pages $17 $19.97 $29.97 Anything more than 30 pages is no longer a special report, it’s a product. Now, again, if this is privileged information that has a much higher value, certainly your pricing would be different. You need to check your competition as well. How much are they selling their products for? If what they sell is similar to yours, you want to keep your price competitive. If you price too high, you may hurt your sales. Also, do NOT try to sell your products for a lot less than other people in your sub-niche are selling. Putting a really cheap price-tag on your product does not always mean you'll make more sales. In fact, it could hurt your sales. You see, some people see a low price tag and they think that the product must be cheap/low quality. Most people really do believe that you get what you pay for. So don't undervalue your products. Sell them for what they are worth. But, for most “special reports”, this is a good guideline to price by. Unless you have some significant reason to look at a different pricing structure, stick with this one. Okay, that's it for this module. In the next we'll begin talking about creating your sub-niche product sales pages. See you there!