What to do when you find pricing an offer tough?
Try one of these three ways.
1. Value-based Price
Works great for services, especially high ticket offers.
Think about the value buyers will get by buying what you sell.
Price your offer so that the value the buyer gets is in multiples for what they are paying.
If you are unsure what value is. Value is what someone will get by using or owning what you are selling.
2. Buyer’s Price
Price is always what a buyer is willing to pay.
So in case of a low-cost, entry-level offer, where your costs are not high, go with what a buyer is willing to pay.
Of course, don’t ask every customer but research a sample before you come up with a price.
Beginners can also use the ‘pay what you want’ functionality offered by tools like Gumroad.
In this case, also, it is wise to move to value-based pricing once you proved that your offer works.
3. Cost Plus Price
This works fine for commodities and also for new sellers.
Price by adding a premium on top of what it costs you to make what you are selling.
This makes sure that you never incur a loss and are profitable from day one.
These are the only ways to price what you sell but should help you start.
Let me know which of these pricing options appeals to you the most.