Tag: Sales
How to Market and Price Your Ebook
You’ve written and compiled an ebook. Now you have to
decide how much to charge for it. Finding the right
price is essential to the success of your product. If
you charge too little, people will think it’s of
little value, and they won’t purchase it, or even it
they do buy your book, you will have to sell thousands
of copies to get to the point where you can begin to
see a profit. If you price it too high when compared
with your competition, you will find yourself steadily
lowering the price, which will cause you all kinds of
new problems in the future. For example, if you sell
your ebook at first for $39.99, and later reduce it to
$24.95, don’t you think the people who bought it for
$39.99 are going to be PISSED?
Choosing the right price for your ebook is one of the
most critical parts of the marketing process. The
first rule of pricing ebooks is to never underprice.
Determine the highest price your audience can afford,
and then if you find your book isn?t selling, you can
always reduce the price. Before you take that step,
make sure you are promoting your book like crazy on
the Internet and on websites. The price should be
aimed at bringing in profits, but you should never
forget that price is one of the factors that people
use in judging the value of your ebook ? before they
buy it. So always start with the highest price, and
then launch a mega-marketing campaign.
Pricing an ebook is particularly difficult because
ebooks are a fairly new commodity. Since they are
digital, the value of an ebook is as confusing as the
understanding of what digital actually is to the
average layperson. This means that we must look at
ebooks in a different light in order to determine
their actual worth in this brave, new cyber world.
Let’s look at the difference between a book in print
and an ebook. A printed book is an object you can hold
in your hand, store on your bookshelf, even hand down
to the next generation. It is priced on factors such
as paper stock, design and production costs, and
marketing.
But the fact that unites ebooks and print books is
that they are composed of ideas. It is the ideas in
these books that have the ability to change, or
possibly transform, people’s lives.
What do you think an idea is worth when evaluated
against the cost of paper and ink?
It is the IDEAS that are valuable! That is how you
determine the cost of your ebook.
What should I charge for my ideas?
There are all different formulas and methods for
determining the correct price for your ebook. Let’s
begin with honing in on your ultimate goals.
Decide if your goal is to get wide distribution and
maximum exposure. This goal is aimed at drawing
customers to your business or service, or to
establishing the credibility of your reputation. If
this is your main goal, you should aim to keep your
price on the low side. Some authors have even priced
their ebooks at a profit loss to draw a high number of
new customers. The key is to find a price that
maximizes your profits and the number of books you
sell.
This is an excellent pricing strategy if you are
looking to acquire long-term customers. Long-term
customers are extremely likely to buy from you again
and again ? as long as the first ebook they buy is of
exceptional quality and beneficial to the customer.
However, if your book contains valuable ? and more
importantly NEW information, references, or techniques
? then you should aim to price it on the high end.
After you figure out your goal, you must figure out
what your audience’s need is for your ebook. For
example, does your book solve a particular problem? If
it does, and solves it in a way that hasn’t been
written about in one hundred other ebooks, you will be
able to achieve high sales at a high price. If your
book solves a problem or answers questions in a new
and unique way, you should price your book as high as
you can go. You will achieve larger profits this way,
but bring in fewer customers. Just make sure the
question or problem that your book solves is one that
is important and relevant to the majority of your
market audience. If your ideas are not common
knowledge, or you are presenting a brand new
technique, you will be able to sell books at a high
price. Just be prepared for your competition to
undercut you on price as soon as they hear about your
book.
Keep in mind that the above pricing strategy is
temporary. Eventually, you will cease to sell books at
this high price. So figure out in advance how long you
plan to offer your ebook at this high price, and when
that time is up, change your pricing strategy.
If you want to see large profits over customer draw,
aim for an audience that is looking for easy solutions
to their problems at a low price. If your book is
aimed at solving one particular problem rather than
general advice, then you can charge more. Start at the
highest price the market will bear to bring in the
largest profits, and plan to discount the book a
number of times throughout the year.
Marketing Strategies
The key that unlocks the sales potential of your ebook
is to find a single sentence that becomes your selling
handle. This sentence states what question or problem
your book answers and the benefits your ebook can
provide. Then be sure to use that sentence in every
piece of sales and promotional material, and every
time anyone asks you about your ebook.
Besides promoting your books assiduously online, there
are several other strategies that can help you sell
more books.
One is to give something away for free with your book,
such as a valuable bonus item. Or bundle several
ebooks under one price, which lowers the price for
each ebook if they were sold separately.
An effective technique for figuring out a price is to
send out a survey to your current customers. If these
customers have already bought an ebook from you, ask
for their opinion in terms of price. Do this by
creating a sales page for the new book, but don’t
include a price on that page. Instead, add a number of
links to survey questions that ask pointed questions
to aid you in assigning a price to your ebook.
Another strategy is to test out prices by creating a
number of duplicate sales pages with different prices
on each page. Make sure your sales copy is exactly the
same on every page, and includes your selling-handle
sentence. Then figure out for each page the conversion
ratio between visitors to your site and sales of your
book. This will tell you what your optimum price is.
Ultimately, if you’ve written a book that solves a
problem or presents a new technique, your book will
bring in both traffic and profits. So be sure to write
that selling-handle sentence that sums up what problem
your book solves and what the benefits of your book
will be to the customers who purchase it. And then
watch your market come to you!
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Infoproducts – How to Earn More From Your Infoproduct Business
The best way to grow your infoproduct business is to create a physical product to compliment your digital one. By putting your ebook or software on a CD with a companion manual, and hiring a fulfillment house to process orders, you can sell it for more and create incentives for your affiliates to earn more.
What is the best way to build an infoproduct business or expand an already successful one?
Create a physical product
The hottest selling items on the Internet today are infoproducts. Ebooks, software, how-to courses, ezines, newsletters, self-improvement guides and an endless number of digital products are in demand on every conceivable topic. And with customersí ability to instantly download their purchases, producing and selling a quality infoproduct can be your road to success.
Although the beauty of infoproducts is the ability to instantly download, the best way to increase your profits for the same product is to burn it onto a CD and include a printed companion manual. Selling a kit that might also include an audio CD and some kind of bonus materials has several advantages.
You can charge more for a physical product. Customers are willing to pay more for something they can have in hand and keep on the shelf or at their disposal on their desk. An accompanying manual or any other printed material is great for reading on the train home from work. And who hasnít experienced the anticipation of the package delivery man at your door.
Another great benefit is that your affiliates now can earn larger commissions. Thereís no better way to attract more affiliates and encourage your existing affiliate base.
But what about all the storage, packaging and shipping? Wonít that take a lot of time?
Yes, if you did it yourself. But thatís not necessary. This is where the whole concept comes together.
Since your goal is to build your business, not to take orders, burn CDs, print booklets, and get them to the post office, you can farm out all the work to allow you to concentrate on marketing and producing more and better products. Naturally it will cost money to have a third party do the work, but, again, the time you save can be better used to build your business.
There are many resources available to help you:
Manuals and booklets
Printindustry.com is a website run by a group of professional printers set up to connect a print buyer with printing companies. When you submit your print request, letís say 500 copies of a 40-page booklet, it is emailed to all the member printing companies that specialize in that type of printing. They then respond directly to you with price quotes. This can save you huge amounts of time from shopping different sites for competitive quotes.
CDs and DVDs
Do a search for ìCD replication,î and you will find many sites that will replicate CDs and DVDs for very competitive prices. For example, nationwidecd.com and tripledisc.com, to name just two, can supply a CD in a paper sleeve for under a dollar each.
For a little extra they will supply a jewel case with inserts in black& white or color, card board or vinyl sleeves, and any kind of labels. Nationwidecd also does some printing, so you might find other sites that also do both.
Fulfillment
A fulfillment company warehouses your CDs, DVDs, manuals and booklets, puts them together and ships the orders. These companies handle every step from processing credit card payments to returns.
Fullfilmentadvisor.com is a good site to visit for resources on every aspect of fulfillment.
Here youíll find detailed articles on exactly how fulfillment companies work, how to choose a fulfillment house, problems to expect, costs, and more. There are also hundreds of links to companies that perform every type of fulfillment service.
Your role as a business owner is to provide the best product you can to your customers. Creating a physical package in addition to your digital product, and farming out the order processing and fulfillment, will allow you more time to focus on building your business and increasing your profits.
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Add Value to All You Do
While reading some very informative material recently, I found myself inspired by a concept that enables a person to soar to higher heights. The concept of adding value to everything you do, when applied to specific areas of a person’s life, can bring that person to be highly sought after by those receiving the added value. The material I was reading focused on business and what this concept will do for the success of a business. Another way of looking at this concept is in the idea of doing more than is expected, or doing more than that which you are compensated to do. When doing this a person will be “weighed” against others who do not. In comparison, the person who adds value to all he/she does will be sought after to the degree that there will be keen competition for his/her service. As a person becomes more and more recognized for doing more than he/she is compensated to do, he/she will begin receiving more and more compensation for their services.
There is an additional benefit that comes to the person who exercises this concept in his/her business; the development of that person’s strength. In nature, do you suppose the strongest trees are those that are protected from the storms and hidden from the sun? This isn’t the case. The one that stands out in the open and bears all of the winds and rain and is shone upon by the blistering sun is the tree that develops the strength to withstand the most violent weather. This also is the case for the person who goes beyond expectation to deliver added value in everything he/she does. This is the person that becomes strong enough to succeed despite the adversities that one is sure to come up against in his/her business. The fact that most people are delivering as little as they can get by with, serves as a great advantage to you when you deliver added value. One who delivers as little as he/she can, may rest assured he/she will receive the same.
I hope this information will add value to all of your experiences.
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Three places to find new clients without a lot of work
1. Don’t ignore your own “Acres of diamonds” – ask your existing clients to refer some of their family, friends and associates to you. If they’re happy with your service they will be more than happy to do it and your job will be much easier since they are coming recommended by someone they trust.
2. Former employers and associates in other fields can be a great resource for finding new business. Give them a call, or better yet – <a href=”https://www.wildfiremarketinggroup.com/blog/index.php?title=can_you_increase_business_without_puttin&more=1&c=1&tb=1&pb=1“>have lunch</a> and catch up with them but don’t be shy to ask for referrals!
3. Ask your current prospects who they know that may need your products or services. It may sound odd at first but give it a try and your opinion may quickly change. Especially if you’ve gone out of your way to help them.
Remember that most good people generally enjoy helping others when you make it easy for them. When you ask the people inside your circle of influence to help you by referring new clients, you’re helping yourself, you’re helping them by enabling them to help you, and you’re helping the potential clients by providing a quality product or service that they need.
Strategies For Successful Business Networking
There are a variety of organizations that run networking groups across the country. The largest group is probably BNI, which offers members the chance to attend weekly meetings and develop new professional relationships to help them grow their business. some chambers of commerce are now organizing “leads groups” for their members as well. These groups are intended to offer members a way to connect with each other and potentially refer each other business.
In most “leads groups” each group allows no more then one representative from any industry, so if the group has a mortgage broker other mortgage brokers have to join another group or wait for the seat to open up. The idea is that by restricting membership, you eliminate competition within the group.
The agenda at most structured networking meetings is pretty straightforward. Each member is given an opportunity to introduce themselves, then there is a short presentation by one or two members (each member gets the chance eventually). The meeting ends with members discussing potential referrals for each other. This means that most of the members get about one minute to present who they are and teach the other members of the group how to refer to them.
Most people do a great job of presenting themselves. However, most people do not think to ask for referrals. At most networking events, you are not expected to ask for a referral or explain what a good referral for you is. However, at a leads group it is not only acceptable, it is expected!
I am involved in a number of networking groups and have used the simple outline below to create my elevator pitch (quick introduction). When I deliver my elevator pitch to a leads group, my goal is to educate everyone in the room about my company and what I do, as well as to teach them the best way to refer others to me. In addition, I want to make sure I actually ask for a specific referral. I will go through each piece of the outline in detail, but here are the basics.
* Introduction
o Name
o Position + company name
o Location of the company
o Overview of services
* Tell a story
* Call to action
The introduction piece of your presentation should stay the same every time you give it. You might say something like, “My name is Joe Smith. I am mortgage broker at ABC mortgages in Anytown, USA. We offer a full line of residential and commercial mortgage products.” You can add some additional detail, but you should really focus on keeping this short and on point.
At each meeting, you will have the chance to differentiate yourself from the competition by telling a short story during your presentation. The story can be related to a specific challenge you helped a client overcome, a unique feature of your product or service, or you can simply talk about a new development at your company. Consider writing out your stories in advance so you know what you are going to say at each meeting. In addition, you can schedule the content so that the other members of your group learn more and more about you at each meeting. You need to focus on educating your group a little more each week.
The “call to action” is very important and the piece that most people overlook. You need to tell the other members of your group exactly what type of referral you are looking for. For example, our mortgage broker, Joe Smith, might say, “Today a good referral for me would be a Realtor at XYZ real estate company.” Joe may also say, “Today a good referral for me would be anyone who purchased their home more then 10 years ago.”
I alway recommend that your “call to action” is as specific as possible. If Joe stands up and says that a good referral would be anyone who needs a mortgage, the rest of the group will have a harder time thinking of people to refer. If Joe asks for an introduction to a specific person at a specific company, someone in the group may know that person or know someone at that company who can facilitate Joe’s introduction. The more specific the request, the more likely it is to trigger someone else in the group’s memory.
A last minute hint:
Keep focused on the networks of the people in the group, not on the people themselves. In other words, when you are participating in a networking or leads group, you should not focus on gaining the business of the people at the table. Instead, you should focus on gaining their trust so that they will refer you people in their network.
How Well Do You Know Them?
It is often said that it is not who you know that matters, it is who knows you. Well I would like to extend this statement by saying that it is not only who you know and who knows you, but how well do you know them and they you?
In business, networking is the ultimate form of promotion. It can help you to obtain new clients, a new job, or even help you to move up the corporate ladder. It is the process of building relationships. Any time that you attend a meeting, trade show, or a social function, you are networking whether you realize it or not. It is the relationship that you have with people, a prospect or a client that makes the difference between success and failure.
Often we fail to realize the reasons that we have for doing business with an individual or a company. In the case of products that we regularly buy, what helps us to make the buying decision? There are those that will buy a specific brand of product because they trust that brand to be of a high quality or durability. There are others that will make a buying decision based on price, although this is less frequently the case. Often we simply do business because we feel good about it. In fact most purchases or decisions to do business are based on two things. Trust and comfort. Trust is a very intangible emotion or feeling. How do you measure it? How do you develop it?
Trust is measured by the feelings that are generated by a process of letting someone get to know more about you than just product, features and price. I know a gentleman who provides a seminar on selling to C-level executives. He says that to sell to the C-level executive you have to be more than a salesperson selling a product or service. To sell to the executive level, you have to be more of an advisor. You have to find needs other than the ones that you can fulfill and help them to fulfill these needs. In doing this, you become a “trusted advisor”. They feel “comfortable” that you have their interests in mind more than just making a quick sale and a commission.
In our daily process of seeking prospective clients, do we often just look for a person to pitch, or do we spend a bit more time getting to know them before we try to sell?
When we take the time to know a persons desires, dreams, and needs, and make an honest effort to help them realize that these things are important to us, we are really on the fast track to doing business with them. We are building the trust, confidence, comfort level, and most importantly the relationship that is needed to not only make the sale, but to create in them a resource for endless referrals.
As we go into the community meeting people who are prospective clients, we should keep the following in mind. The customer is a person just like me. The customer has needs other than the one that I can fulfill. Until I understand what the ultimate goal or dream of the prospect is, I cannot fulfill it with my product or service.
Selling and networking are about relationships. You sell in everything that you do whether you realize it or not. The time is now for more effective selling. Change the way you think about the prospect and the prospect will change the way that they think about you.
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