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.
We share a tiny, bite-sized tip for growing your business a few times a week. Click here to see more and get Growth Bites in your inbox 👌
Thanks for sharing!
Thank you for sharing 😃
Nod to @teela_na of IH Stories 💪