Make More Money From Your Ideas

"How do I know what the right price is for my product?"

There's no definitive answer to this question. The best way to do this is by testing. Slice up your target market into different groups at random, and offer your product to each group at a different price. That will tell you which price point is the most responsive.

Other things to consider when setting your price:

• Value: What results can they expect to get from the product?
• Competition: Who else can give them the same results?
• Scarcity: Do you offer results that aren't widely available elsewhere?

There are a number of other things you can do to increase the perceived value of your product, so that you can charge a higher price.

Labels: market research, pricing

"We have come up with a number of titles for the freebie e-book, and considering your much greater experience we'd really appreciate your advice on what you believe might be the best e-book title.

E-book titles should be strongly benefit oriented, like this:

HOW TO ACHIEVE WHAT YOU WANT, WHEN YOU WANT

This one, on the other hand, is more about the "how" than the results, so it is weaker:

DIFFERENT THINKING, DIFFERENT LIFE

Having said all this, I think the best way to know which title
works is to ask your customers! In other words, why not select
two of them and publish the e-book under both titles. Promote
them both on your site and check which one gets downloaded more
often. Then after a while, remove the weaker one, replace it
with another title, and repeat the process. Your customers will
soon tell you which one they are interested in.

Labels: e-books

"How do I best leverage and increase awareness of my website when I am in an industry (agriculture) that is not technology adoptive?"

The first question to ask yourself is whether a Web site is the best way to promote yourself. If people in this industry don't regularly use the Web, then you might be wasting your time building a Web site.

But assuming that you've asked this and decided to go ahead, the way to increase awareness of your site is to use "off-line" strategies. That is, promote it in ways other than on the Internet itself. For example, if they have an industry magazine, write an article for it, and send them to your Web site for additional resources.

You'll probably have to give them strong incentives to visit your Web site. You might have to try harder than in other industries if they're not used to using the Web.

Labels: niche marketing, traffic generation