The Unbelievable Facts: You Can Beat The Competition By Raising Prices!
The average U.S. price is $105, and the -average- cost per click for a U.S.-based online ad is $5.8 billion
This means that about -one- in every fourteen clicks goes to your competitor's website because you are too cheap! How can you fix this? By raising your prices!
If you're new to the industry or have just been burned by an outdated marketing strategy, then it's easy to raise prices without freaking out your buyers. If a "higher price" from you makes your product even more attractive, then it's simply a no-brainer:
1. Raise the price.
2. Get more buyers.
3. Make more money.
At first it seems counterintuitive: Why raise prices if you're trying to gain new customers? It's because this strategy only works if you have a solid product that solves a real customer need.
Here's an example: I bought an online course about "How To Start a Blog" for $297. I didn't do anything else. I didn't buy any products, books or services to go with the course. There were no ongoing coaching calls with experts, no landing page opt-ins, no follow-up emails and no bonus gifts given away to build my list—just the one course payment of $297.
I'm still blogging and making money with the techniques that were taught in that course. I would never have started this blog if it weren't for the course I bought.
I would go as far as saying that no matter what business you are in, there's a way to create your own online course, bundle of products or service and charge $297 per sale. It's just a matter of figuring out how to sell your product—whether through video, a downloadable PDF guide or an info-product funnel.
The point is: You don't have to overthink it or spend months researching new and creative ways to sell something for $297 every day. The "product" you sell can be a single class. It can be a bundle of videos. It can be an ebook. The point is: Don't give away your product for free or for cheap just to get it out there.
The more people who buy your product, the more money you will make!
Once I started charging more for my products and courses, I saw my sales increase by 30%. Then when I raised prices on some products by as much as 400% (yes, four-hundred percent), I saw sales increase by 500%. It's the equivalent of giving away a bracelet worth $200 and then making $800 when you sell the same bracelet at a higher price.
Now THAT'S a raise!
The most popular blog post on my site right now is "The 3-Step Formula To Make $8,500 Per Month From Your Blog." It happens to be one of my most popular posts, but it wasn't because I was giving away my product for free. It happened because the market wanted to buy a certain product from me at a higher price—a price I was loving and willing to pay.
If you start with the mindset that your products are expensive and you will only sell them for $297 instead of giving them away for free, then making more money might seem like an impossibility.
But if you raise your prices and get more buyers who will actually pay to unlock your product or solution, then delivering the product becomes a simple matter of sending it to them.
The first step to raising your prices is putting in the work to create a product that is worth paying for. If you don't have one yet, then spend time creating one. If you do have a product, then spend money on marketing campaigns that will teach people why they need your product.
After the last few years of flooding my blog with free content and giving away my best information for free, it's time for me to change my strategy so I can charge higher prices again—especially as I prepare to launch my new products in 2016.
I'm not sure what it will be yet, but I know that it's the way to recover from years of chasing free traffic.
I don't want my readers to pay for something I'm giving away for free anymore. That's how I lost my friends and sadly lost a lot of my income as well.
As a marketer who is looking to make $8,500 per month and more with little advertising and no marketing, this move will start me in an entirely new direction and take me much closer to my goal.
It will also help me achieve my goal of making more money with each post.
You can make money with your blog or website by charging to unlock the products and services you offer. For example, when you buy the free course on How To Start a Business for $297, you are paying to unlock the advice and instructions on how to start a business from scratch.
If that's what you're trying to do — make more money by charging more for the product or service that you offer—then follow these simple steps:
1. Charge less for your product or service.
2. Add value to your product or service and charge more for it.
3. Repeat steps one and two until satisfied with the results or until your market stops buying at a certain price point — whichever comes first.
When you raise prices, you must realize that it will be difficult getting people to pay for something they've gotten used to having for free in the past.
Your job is to show people that the product or service you offer is worth paying for. If you can do that, then you should raise prices with confidence.
If you're having trouble raising your prices, then start with these tips:
1. Stop giving your products away for free or cheap. Charge as much as you like. It doesn't matter what it costs; people will buy it if they truly need it. You can always lower the price later if things go south and your market stops buying at a certain price point — whichever comes first. As long as somebody actually wants to pay for your stuff, then make a dollar off of them!
2.
Conclusion
If you've made it this far, I want to make sure that you understand the goal of this post.
Your blog is supposed to be YOUR business. It's time for you to put in the work, mess up a little bit and sell something so people don't have to pay for your content anymore.
You can create your own online course with products or services, give away your best information for free and still make money online because there are always people who are willing to pay for it. It might take some time, but if you're serious about making money online with your blog, then these tips will help.