If you can sell a tried and tested product you can charge its full worth.
Should you try and sell it at that price before you have flawless proof that it does what it is supposed to.. No matter how much you believe it and customers like it?!
If it will get there, and it is awesome, then charge less and itterate on it. Eventually, when you have a large brand awareness, you become the name people turn to and you can put your price up.
Until you reach the point that customers turn to you and buying from you will give them peace of mind, sell at a lower price.
Am I right or wrong here?
I sometimes think that Seth Godin is a mind reader and has somehow got a tap into my mind that he uses to guide his blog posts. I subscribe to his daily blog post which gets sent to my inbox. 99% of what he says hits the mark and his insights into market and sales is fantastic. I cannot recommend subscribing to him enough. Do it here – http://sethgodin.typepad.com/
This morning I got this into my inbox from him:
Questions we ask before we trust your new idea
Who are you?
Do I trust you?
Am I afraid of it?
Will this work for me?
Who says it’s important?
What will my peers think?
These are all variations of one complicated thread: how will this process make me feel?
Even though that’s all we care about, marketers seem to think it’s fine to spam, fine to focus on specs and important to talk mostly about price.
So there you go: I was wrong, or perhaps at least missing the point. A good marketeer should be able to let people know why they buy from you, not put the price down until you are the ”go to” product maker.
Set Godin in all your vast wisdom, what would you do?? I need you to mind read me again please..
So you don’t want us to race to the bottom. But how much time can you spend with the fluff? I have been editting and re-editting our pages to try and build emotion, give all the correct info, build trust, respect.. everything. But nothing will sell better than a cheaper price! Literally, dropping our price by $2.50 is all it takes. Raising the price by $10 makes them all disappear. How long do I take on the fluff not making money? We get about 1,000 unique visitors a day, which is enough to make changes and see their impact on a daily basis. I say again, price is the difference. I beg someone to tell me how I can sales at a higher price: www.shop.timemaps.com