I was watching the games last night, so I apologize for the 'hysteria' I may create in the video.
So quickly I want to talk about pricing before we go into promotion and getting traffic to your product, since we have not discussed about pricing in any of the videos I have done. So how do you price your product? There are several factors that I think are important value to the market and time spent on creation. These two are very controversial and can be argued many ways. I see it this way:
- How unique is your product to the market?
- Are you duplicating a product
- How long did it take you or your freelance to create the product?
- How much did you pay a freelance to create your product?
- How many changes did you have to edit?
- What is your competition looking like?
These are the things I look for when trying to price a product, the end price maybe lower than what you expect or even higher. Just don't let greed take place. You want to price it so that it is reasonable for your buyers to purchase and even enticing for the beggars to buy. Not too high where it will cause curiosity of your brand. Pricing can be a very arguable moment for a marketer but just think about the above factors and you can easily get the right price for your audience.
Now onto Promotion and Marketing
Getting your product notice is very important. I will talk about 3 aspects that I used when promoting and marketing the BANS Themes Package 1. There are 3 things that I think are important to market a product, especially getting a nice initial traffic to your launch.
- Enticing the Beggars
This is one of the best traffic sources to get because the beggars are the ones that always want something for free or are the mere testers. The testers become buyers, freeloaders are freeloaders but provide valuable information when doing a case study. Enticing the beggars is simple, give them something for free. Give them a snippet of your ebook, part of an audio, a free template or design.These end users will be a majority of your traffic and potential buyers, make sure you build trust with them right away. I think it is very important to build trust with the beggars in an early stage because they will want more of what you have, they become addicts.
- Have an Affiliate System
Having an affiliate system is crucial because it provides other people marketing your product for you. Instead of you doing all the marketing you have other people doing it for you! If your commission to the affiliate is valuable, as well as the product brand, they will promote your product. I enjoy using $7 Dollar Secret's Script because it has a built in affiliate system and automates the sales of your digital product securely.By having others promote for you they get into other markets that might be interested in your product without you evening knowing where the source of traffic is. Other people know other secrets and niches which you may not know, take advantage of other people and use their time.
- JV Partner with similar marketers in your niche
This is the biggest part that I think is important next to the 2 above. Partnering with other people in your niche. It is not just telling or emailing people you have an affiliate system and you will give them X amount of the sale. You actually communicate with each other. People think JV partnership is similar to affiliates, I do not think so. It is more towards networking because you help the end user as they help you, there is a bond. Partnering with someone is not just 'hey I have an affiliate system and I will give you 65%!' It is called a Joint Venture for a reason. You join together to venture on a project or goal. A lot of marketers get this confuse and think of this as just letting people know about your affiliate system, wrong.
With these aspects of marketing your product you can easily grab buyers and potential buyers to buy your product. These are just 3 simple steps that I find effective and I think will help you succeed with your digital product as well. Since there are multitudes of ways to promote, I think these are important and are the backbone of creating a high effective launch or promotion.
[metacafe]http://www.metacafe.com/watch/1332789/digital_product_creation_pricing_and_promoting/[/metacafe]