It's easy to raise prices...at a fundamental level, it's as easy as entering different numbers.

Who among us one doesn't want more money for the value we create or believe we create? That's what I thought, no hands showing....

In my case, I've allowed the "gurus" to brainwash me on "raising the free line." Once I raised the free line, I conditioned people on my list to expect "free." The perpetuating cycle extends to lower-priced products, probably perceived as poor by many "would-be" customers.

At least for me, Robert & Lance, the challenge is more than fundamental. I might even admit to a poor model.

So why don't I change? It's profitable...BUT not nearly as profitable as (I KNOW) it could be. Sometimes it seems "easier" to take what I'm getting rather than move into the unknown.

Since I recently have discovered Lance & you, I am impressed and grateful. I have DROPPED many gurus who seem to speak a different language...that doesn't (& hasn't) worked for me.

Not that I face my reality, I have allowed myself to go in so many directions I don't know what "model" is "best" for me and my prospects.

Earlier you said, "And then use that 'not being comfortable' to your advantage... write better sales copy, write more autoresponder followups, contact more people for joint ventures...."

Of course, you know it's easier said than done.

Where do I check out coaching from you guys?

Thanks for another insightful post!

Mike

Very interesting answers here... check it out:

Neil = $17
Mel = $27
Clyde = $27/month
Brad = $37
Trevor = $37
Ron = $37
Joe = $39/month
Jeff = $47
Chuc = $47
David = $47/month
Stephanie = $75
Eric = $97
Robert = $97
Barnaby = $97
Warren = $116
Graeme = $197
Gareth = $197
Timothy = $200/month
Rich = $247
Michelle = $397
Gavin = $450
Sandra = $997

Average price point = $179

Old sell price $100, new as of today $247! WTF:)

I am launching a product next week. My product consists of software and information product (as a bonus).

My product costs 99 for the basic and 116 for the premium. Since I am a new company, I was offering a free trial download.

I have set up both basic and premium versions of my product. I refer to my price as special price, and after reading your post, I will be increasing the price. Is there a time frame that works best (30 days) or is number of copies at a reduced price the best inducement to action?

I appreciate any feedback.

"I will probably get slated for this comment but there definitely seems to be more interest in how much money one can make than actually helping someone put the product to use and actually get them using it."

I think there's not enough focus on making sure people get value and too much focus on how much money we can get people to pull out of their wallets regardless of how helpful a product is.

We all need to make sure we've created a great product first, then price it for it's value but don't under price.

Thanks,

Chris J

And how many of the buyers of high-priced products ever make back the money they spent on them?

Maybe I'm not a typical consumer?

your awesome post inspired me to create a blog post that suggests that visitors sign up to my list to avoid having to pay $97 per month for a membership site that i decided to launch in the Spring.

The payback that I require from them is their testimonials.

In the post, I also integrated an affiliate link to monetize the post. If anyone wants to check out what I did, the web page is hyper linked from my name above.

So hopefully I can get the subscribers and I should have plenty of time to prepare my product offering.

I like the concept of increasing the price, but how do you know when you've priced things too high?

For example I start my price out at $75 and was getting consistent purchases, then I said let me see how things go at $97. When I went to $97, my sales fell off the cliff.

Does that tell me the highest the market is willing to bear is $75 and I should lower my price?

I even added additional bonuses to the $97 price point to justify the increased price, but still no takers.

I have since lowered the price back to $75 and the sales are flowing once again.

I'd value your feedback.

Gracias,

Stephanie

In most comments (in other blogs) there seems to be just yessings. But in your comments seem to be just full of intelligent readers. In fact today the quote by Gabrielle Fontaine "When in doubt, always charge at least a little bit more than you're comfortable with." is well worth reading all the comments. A quote for all marketers.

Thanks Gabrielle,

Chick J