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High Paying Clients Secrets MRR Ebook

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Chapter 7: How to Price Your Product & Service

A business might set or adjust prices when they start up, when introducing a new product or service, to achieve a new business objective, or in response to changes in the marketplace or the general economic climate. Whatever the occasion, setting prices for your products or services is possibly one of the most important business decisions you make. It does have a considerable impact on your profitability and thus can be a decisive factor in the financial success or failure of your business.

Determining a pricing strategy should not be carried out in isolation but in relation to your evolving business strategy. You need to be clear about what your pricing objectives are, how they relate to your general business objectives, and how they tie in with your marketing and sales plans.

Pricing Strategies

Cost Plus Pricing

This takes the most cost of producing your product or service and adds an amount that you need to make a profit. This is usually expressed as a percentage of the cost. It is generally more suitable to businesses that deal with large volumes or which operate in markets dominated by competition on price.

It is important to be aware of the effect any price change will have on variable costs and factor this into your calculations. Care must also be taken not to overlook hidden costs and inadvertently overestimate potential profit per sale. This approach also disregards potentially important factors such as business or brand reputation, market positioning, and the value of the product or service to the customer or client. Indeed, setting prices based just on costs can result in selling a product or service at less than the customer or client is willing to pay, thereby failing to maximise potential revenue.

Value Based Pricing

With value-based pricing you focus principally on assessing what the product or service is worth to the customer or client and set the price accordingly. The aim is to avoid charging too little and so missing out on potential revenue while not setting the price higher than the customer or client is willing to pay. The key is to identify the benefits you offer the customer and ensure they understand and appreciate them.
If you have clearly-defined benefits that give you an advantage over your competitors, you can charge according to the value you offer customers. While this approach can prove very profitable, it can alienate potential customers who are driven only by price and can also draw in new competitors.

In a competitive environment it is especially important to differentiate your product or service by demonstrating unique features and benefits wherever possible. The more you can enhance the exclusivity of your product or service or demonstrate genuine added value that your competitors do not offer, the more you will stand out in the marketplace and the easier it will be for you to command higher prices.

Blogging Paycheck MRR Ebook With Video

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How to Streamline Content Creation

(1). Create a publishing schedule and stay committed to it. Plan it in a way that works well for you as well as for your readers. Never overextend yourself. It's not necessary that you publish on a daily basis. Some bloggers post weekly or even bi-weekly.

(2).Throughout your day when good blog post ideas come to mind, stop and write them down. When clients ask questions add those answers and the ideas that come from them to your list.

(3). Create an outline for your posts. This can keep you on point so you don't wander off on short tangents that are not relative to your post. It helps save time on both the writing and the editing of your posts.

(4). Always have a few backup posts ready for times when life throws you a curve and your time and attention is needed elsewhere.

(5).Don't try to re-invent the wheel. Follow blueprints of blogs that are tried, tested, and proven. Blogs are structured in a fairly straightforward way.

(6). One neat little trick is to take a kitchen timer and set it at 30 minutes. Every 30 minutes take a break and reward yourself with something like a cup of coffee or a donut. Getting up from your chair is what helps you.

When you get back to it you are more re-focused and more energized. Naturally, streamlining blog content is a great idea. However, never turn it into a speed-writing contest. Blog for the sole purpose of helping and delighting your target audience.

How To Win Customers & Get More Business

If your blog posts all sound like a sales pitch, you'll have a hard time finding loyal readers. You could alienate your targeted clients. Your blog could easily end up as a whisper in the wind with no-one around to hear what you have to say.

The majority of people don't want to hear a sales pitch. Some don't even care about your business. They are looking for something for THEMSELVES. If you want to create business using your blog, don't think like a salesman and step into the shoes of being a 'mentor' for your readers.

High Paying Clients Secrets Upsell MRR Video With Audio

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High Paying Clients Secrets

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You Will Access The Following Video Training Modules:

#1: Why Go For High Paying Clients

#2: What it Takes to Close High Paying Clients

#3: How to Position Yourself as an Expert

#4: How to Identify and Qulify Clients

#5: The Sales Process

#6: Overcoming Sales Objections

#7: How to Price Your Product

#8: How to Deliver Results After Payment Is Made

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Start And Grow Your Business PLR Ebook

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Exclusivity

One way to get people to follow you and look at your content on Instagram is to let them know that here is the only place you will see this post. If they want to get the best deal or best product on the market, then they should know they can only get in through Instagram. Make sure they know this and see how many people will follow you.

Ask Questions and Ask People to Vote

I actually found this to be a very interesting way of engaging followers. One way to do this is to ask your followers “have you used your _____ today? Maybe “what is your favorite coffee flavor?” It can be so simple. People love to share with the world their likes and even dislikes so this is a great way to get people involved.

You can also ask a question like which is better, vanilla or chocolate and put up a poll and show responses. People are always interested to know what is popular. Seeing poll results help them to know. If you are promoting a product, people can see how popular it is and will want to buy it.

When and How often to Post

Now that you are more excited and informed about how easy it is to have a business on Instagram, one question may still be lingering in your mind. How often do you post? Well, for starters, be consistent with your posts. If you post every Tuesday and Thursday, always post on these days. Also, think about the time of day. When do people normally get up for work, when do they take lunch, and when should they be home?

This is important because Instagram, like any other social media site, gets floods of posts. You want people to be more likely to see your post, so post at a time of day where people would normally be logged on. The three times mentioned above are the best times to post something. People are more likely to see your posts.

The amount of times to post will determine on your followers. If you post a couple times a day and notice more followers, then that is a great frequency to use. It does depend on the demand of your brand, so keep that in mind. If you are seeing that people stop following you, you may be posting too much. You can lessen the posts to once a day, or even a couple times a week. Always test what works by monitoring your followers, and how many people are clicking on your links.

Keep it Trendy

One last thing to note is to be aware of the trends. People are most likely following a trend because they want to know what other people know and be a part of the crowd. People may say they want to be an individual, but keep in mind; they want to feel different about certain things in their personal lives, such as the clothes they wear. You actually want to attract the people who follow trends because they are the ones who like what the majority of people like. The more people who like something you sell, the more likely they are to see your ad and click the link then buy your product.

Start Today Retouching PLR Ebook

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As you set up your new business you have two choices to make:

You can choose to link to a few companies that are linked by niche to your current blog/website. This means joining an affiliate program direct from a merchant or through an affiliate network that manages the entire affiliate transaction.

The alternative choice is to set up your new blog/website as one gigantic affiliate marketing business and join several affiliate networks.

Take time to look at competition across the marketplace that interests you. This will help you decide which actions to take.

Let your thinking concentrate on three important points throughout your new business planning:

Choose the best possible products and services matched to good/great commission for your business

Targeted traffic to your website is vital. Great traffic will help your readers click your affiliate links for commission, even where your products are average.

Match the traffic to great products and hey presto!

Alternative websites

Instead of offering a website/blog, some successful affiliate marketing businesses use to other methods that you may consider as opportunities for you.

Coupon websites - everyone wants a bargain and where you are paid to generate traffic to a merchant that offers coupons, you will be paid a commission for your work.

Download websites - consumers often wish to try software before they will purchase it. By offering a download option and targeting great traffic to your website, you will be paid for each customer that downloads software via your website and then again, as an affiliate marketer, when they purchase the full product after the trial period has been completed.

Start A Part-time Link Building Pro Business PLR Ebook

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The Infographic Method. Okay yes, an infographic is content, but it can be far easier to put together than a long authority blogpost. Plus, it is much more likely to be shared and linked to than a blogpost. The key is to first of all use interesting information that people want to see, and second of all get a professional to create it for you.

Then share your infographic with the authority sites in your niche. If even just one links to it or uses it on their site, it can spread like wildfire and create dozens of great links in one swoop.

If you doubt this method works, consider this: KISSmetrics made 47 infographics and in return got 2.5 million visitors and 41 thousand backlinks. Pretty amazing.

And to be sure your infographic gets shared and linked to, make it relevant to a trending topic.

The Chart and Table Method. Similar in some ways to an infographic, a chart or data table is a visual representation of interesting information. But it’s easier to make than an infographic, since it’s basically one chart or graph.

Choose a timely topic, such as the results of a compelling survey that just came out. Pick a user friendly tool to make your chart, such as OnlineChartTool.com, or hire someone on Fiverr. Combine relevant data with an interesting, easy to interpret format and you should get content marketers linking back to you.

The Local Method. Look for reference pages on local authority websites. These might be local business groups, networking groups, council websites or sometimes even local bloggers. These are great links to have and they’re super easy to get.

The Contest Method. Run a giveaway or contest and encourage people to tell others by giving them more entries for doing it. Many will use social media, but a few will also post it on their sites.

The Selective Giveaway Method. Choose bloggers in your niche to give your product or service away to. Some of them will respond with a post and a link about your product.

The Repurpose Method. You don’t necessarily need new content to get backlinks if there is already plenty of quality content in place to work with. Instead, you simply need to find ways to repurpose that content into different formats and then promote it.

For example, a webinar could be repurposed into a video tutorial. A power point could become a Slideshare or an infographic. An interview could become a blogpost, and several interviews could be an ebook. Blogposts could become podcasts or newsletters, and so forth.

In fact, one great piece of content could be repurposed into all of these things and more. By doing this you will reach a far wider audience as you appeal to those who like to read, those who are visual and those who like to listen. Plus it gives you a great excuse to re-promote your content each time it is repurposed, those increasing views and the potential for new backlinks.