How To Triple the Price of Your Information Product

Have you priced your product according to its value?  Are
you aware of how many copies you must sell to reach your
financial goals?  What is your break-even point (the point
at which you will cover your tangible and intangible costs
running your information product business?)  

Seriously folks, give this some thought.  

Take notice of some really successful information product
professionals. How have they priced their products?  Marlon
Sanders has several products in the $100 range, Corey
Rudl's products come in well over $150 and Yanik Silver
just added high-priced products to his portfolio.  Do you
think it is by accident that the big names are selling high
priced products, and that they are selling tons of them?

OK, so you don't have Marlon, Corey or Yanik's reputation,
the good news is that there are proven techniques these
entrepreneurs have used to….

massively increase the value of their products.

Here are 3 techniques you can use immediately after
reading this article to double or triple the price of your
information product.

Profit Tip 1  - Focus on What You Know

The point is quite simple.  If you develop your product
around your passion and what you already know, then its
value will be higher.  Here are a few reasons why this is
the case:

- You can include very detailed information otherwise not
available to your customers
- Including first-hand experiences will substantially
increase your credibility and trust
- You may leverage your insider market contacts to help
sell your products and produce valuable testimonials
- You will have an instant pool of partnership
opportunities at your disposal to add value to your product
- You can double the price of your information product
because people will pay for solid information from someone
who has been there, done that.

Profit Tip 2  -  Bundle information presented in multiple
formats

So you have developed an ebook you think is only worth $19
on the market, have you asked yourself this important
question:

        What can I do to increase the value of my ebook to sell
at $38 or even $57?  

The simple answer, bundle more relevant information to
make your product irresistible at almost any price!

Say your ebook topic is How To Save $1000s On Your New
House.  What else could you bundle with your ebook?

How about 4 audio interviews with top contractors,
builders or housing representatives who give your customers
inside tips on how to save money getting your house built.
How about bundling in a report or ebook on negotiation
skills aimed at giving you the upper hand dealing with
various builders and trades people?  What about offering a
checklist of potential high-cost items with less expensive
substitutes, you could come up with this in a few hours of
research with your local building supply dealer.  

The possibilities are endless, but one thing is clear.
With a few extra hours work up front, you cold easily
double or triple the price you charge for your products.

Profit Tip 3  -  Create Your Own Solution System

Afraid that charging more for your product will send your
customers to the competition?  Not sure why your customers
will pay double or triple what they can pay for one of your
competitors' products?  Don't worry….

set yourself aside from the crowd by developing your own
solutions system

What is a solution system?  Give your approach to dealing
with your topic a name.  The label for your solution will
be your solutions system.  For example, take the steps you
list for solving a particular challenge (say public
speaking) and use the first letter of each step to define
an anacronym that you now own.  Alternatively, you could
give it a name such as the SIMPLE Guide To Super public
speaking where SIMPLE stands for Select a topic,
Investigate for content, Mine for information, Produce your
talk, Lick your fears, and End with humor, for example.  

You now own the SIMPLE system for superb public speaking.
Having branded yourself, you instantly gain credibility,
stand out among your competition, present yourself as
highly credible, and create a simple term to spread word of
mouth advertising.  

Don't Sell Yourself Short

If you have trouble coming to terms with charging higher
prices for your products, then use these techniques to add
value to your offer.  One thing is for sure, if you don't
offer a medium to high end product in your category, then
you are selling yourself short.