Tip: Increase the price of digital products as sales go up to invoke urgency

Digital products don't lend themselves to scarcity in the same way physical products do. Consider increasing urgency and sales with pricing that goes up as more products are sold.

@stephsmith made over $130K from her ebook, Doing Content Right, in just 8 months. One of many factors in this success was her unusual pricing strategy — it increased as sales went up. She made it known that the price would start at $5 and increase by $5 every 30 copies sold, up to $25. Then she would sell 1500 at $30, 500 at $50, 100 at $60, 100 at $75, and finally hold steady at $100. As Austin Rief mentions, this created a sense of urgency that isn't typical of digital products. And there were other benefits too — Steph says it helped her to better understand the best pricing to use down the road. This tactic should be used with caution, though. @dvassallo and others chimed in to say that the opposite worked for their products. So if you give it a shot, test it and remember that your pricing strategy doesn't have to be final.