It is easy to pricing for physical products. You know the cost of producing the product and determine the price based on the profit you want. For digital products, this is a completely different game.
You cannot price your digital products in the same way as the sales of physical products. They are completely different beasts. Many new merchants have made this mistake, which has lost their important customers.
Digital products have uniform attractiveness. No materials (of course, except for digital applications), no transportation costs, no manufacturing, no complicated storage, etc. If you make it once, you can supply unlimited supply.
There are so many benefits, it is easy to see why digital products are becoming a huge trend in e -commerce. So what are people selling? These are the digital products we have recently seen on the Internet:
Online course
E -book
Software
graphics and graphics and graphics and graphics and graphics and graphics Digital Art
Photography
There are so many choices. How do you know where to start when pricing? The preferred concept of pricing for physical products does not always be transformed. Where will this leave your online store?
If you want to enter the e -commerce world of digital products, you need Pricing Strategy. Pricing is one of the four major marketing elements, so don’t ignore its role in your business. The following is the six strategies to ensure the sales of your digital products.
1. High price
When you price for your physical product, you will produce you from the beginning to the end of production. The cost of the product to determine this number. When you pricing for digital products, it is related to value.
High pricing may be wise pricing. It brings value to your products, and this is not always translated in digital space. For example, why should your client choose your e -book instead of Barnes \u0026 amp; NOBLE’s beautiful hardcover book?
You don’t have to be an accountant to understand this mathematics. Of course, if you price the e -book to $ 1.99, you may sell more e -books. But youI would rather sell an e -book at a price of $ 25, and did not want to sell ten e -books for $ 1.99.
Essence You should want to obtain the cost of each purchase as much as possible. As a merchant, you want your customers to pay attention to your products. What will they value more? $ 200 online course or $ 50 online course? Your price shows your value to your customers, so don’t underestimate yourself.
2. Value -based pricing
Because you cannot be priced according to the original creative cost, you need to be priced according to your value. If you sell high -value products, high pricing is wise, but there is another way of thinking: value -based pricing.
What is valuable pricing? In essence, it is considering how much value you bring to customers. If you are teaching challenging skills or providing money -saving solutions, then your digital products have high value.
Your product is an investment in customers.
How much is this investment worth? Use this as the starting point for determining the price of the product.
If you provide a copy Books, you will be able to provide considerable return on investment. Price accordingly. And consider adding watermarks to your e -book to protect your hard work. 3. Grade pricing
If you recently bought anything online, you may have seen stratified pricing. Due to the different degrees of importance to things, you must sometimes create different levels of products for different needs. This allows you to sell products to different customers.
Some customers are willing to buy from the highest price, just as some customers are more willing to choose a lower level, because they feel that they have received better transactions. You most often see the layered pricing of the software, but you can use it for any digital products.
Let’s take the e -book as an example. Your lowest level may be e -books itself. It is a reliable value in itself, which is very suitable for those who do not need extra resources. Your highest level may include e -books, corresponding workbooks and printed guides.
As you can see, providing different options for different customers will only increase your profits. Although additional additional components for physical products may cost high costs, these additional components in digital space are very cheap. 4. Buy first and then buy Customers need to be confident in your product before willing to buy. It is the key to using your store as a way to build trust, but sometimes you need additional promotion. It is an effective method before the purchase option.
Heidi Zak, co -founder and CEO of ThirdLove, strongly supported before buying marketing to overcome any concerns. Zak claims, \”Let them try it before buying, it is the best way to get rid of the predicament.\”
Customers are smarter than ever. They don’t want to spend money on digital products that they are useless. Provide samples, trials, or other refund guarantees will help customers who purchase temporarily.
5. Increase bonus
Who doesn’t like free things? This is one of the few real situations of physical and digital products. Everyone likes to know they are bargaining. Adding free gifts when buying is an excellent way to make your digital products more valuable. Let’s consider the e -book of freelancers again. Consider adding a free ed invoice template to help new freelancers cooperate with customers.
Although it is small, these free gifts show your product to your customers. The trick is to really focus on the value part of your extra bonus. It can’t just work about the Microsoft work that you have done in five minutes -let it play a role.
Tip: Use the WooCommerce Checkout additional component to add free and paid gifts and pay for your WOOCOMMERCE product.
6. Psychological pricing
Finally, when everything fails, return to basic psychology. You can see these methods in most major retailers across the country, but you can use them yourself in your own store.
In the stall store, you will notice the end of the price at zero. However, all products are ended at 9 or 7 to your local cheap chain store. What is it?
Of course, this pricing may only be a few cents, but we fill these gaps with value. Buying products at a price of $ 29.97 instead of $ 30 sounds better. Although it is small, this psychological skills have a profound impact on how we understand the price. Selling more digital products As you can see, the pricing for your digital products is not exactly rocket science. Having said that, don’t mistakenly think that there is a universal pricing solution. Success can be found in repeated experiments.
In -depth understanding of the value of your digital products. What do you provide for your customers? How can you pricing accordingly?
The biggest mistake of the new merchant is that the pricing is too low. When you underestimate your digital products, you will degrade it. Don’t accidentally send this message to your customers. Pay attention to your e -commerce profitability at all times.
use these pricing methods as a springboard for your own product, and add digital numbers The trend of products -there is a huge market today waiting for the products you provide.
Have you used one of the above pricing methods? What is effective and invalid? Let us know in the comments.
Wendy Desrsler is a super liaison person who helps companies find their audience online through exterior, partnerships and networks. She often writes the latest articles about digital marketing, and focuses on formulating customized blog outbound plans based on the industry and competition.
Some customers are willing to buy from the highest price, just as some customers are more willing to choose a lower level, because they feel that they have received better transactions. You most often see the layered pricing of the software, but you can use it for any digital products. 
