Tag: Pricing


Jan
2014

Announcing Craft Pricing Power

categories: polls, pricing

[Special Update: The winners of our comment contest are Rachel B. and Rebecca C. – they have just been informed via email. Congratulations!].

We are thrilled to announce the launch of our new ebook Craft Pricing Power!

Why We Did This Project

craft pricing title cover contest

We did this project because in a December 2013 poll our (awesome) partners said that pricing was the #1 issue they needed help with – so we decided to jump into this fun topic.

We blogged about each of the pricing principles here on MSG and asked for comments and feedback. Then we asked everyone to vote on a title and cover option.

The results showed that people overwhelmingly liked the title “Craft Pricing Power”, and while it was closer – they also liked the bold & clean design of cover option #1.

Final Cover Art Choice

cover 11

Ultimately we went with a version of cover option #1 that we modified in several ways. First, we removed the red accent color and went with a blue that Cinnamon helped me pick.

We also went with “Craft Pricing Power” instead of “Online Pricing Power“. Most of the comments in our survey stated that people liked the craft focused title more than the generic “Internet” title.

How We Got 12 Principles

In the final writing process we also broke a couple of the pricing principles down a bit and clarified things so there were ultimately 12 principles in the final version of the ebook. We added new content to each chapter too. The final ebook version is longer and more complete than the original blog posts.

Secret 13th Pricing Principle

We also added a secret bonus at the end of the book – a 13th principle that we didn’t blog about or mention on the book cover. It is a really powerful lesson on pricing that you’ll want to read about. It has to do with a powerful concept called “charm prices”.

Get A Free Copy

We’d love to have you snag a free copy. The book is available right now on Amazon as an ebook with the $.99 cent price. That is the lowest price Amazon allows. But we have five promotional dates picked when it will be free. The dates are:

  • Monday, Janaury 27th
  • Friday, January 31st
  • Friday, February 28th
  • Friday, March 28th
  • Friday, April 25th.

You’ll notice that the free promo dates are the last Friday of the month. We’ll continue to do that for the near future. So check back in May, June, Juy, and August. It will most likely be free on the last Friday of those months too.

Read It Anywhere

Don’t forget, you can read Kindle books on any computer, tablet, or smartphone, find out how here. You don’t need a Kindle.

Help Wanted: Amazon Reviews

We would be incredibly grateful if you’d leave your highest & best review on Amazon in support of this ebook. Reviews help launch new ebooks in important ways. When books get good reviewed on Amazon – they get additional visibility and new customers are willing to take a chance on them. So if you wouldn’t mind taking a moment to leave a review – that would be a huge help.

Thanks Again

Thanks again for helping us work on this book project. We do all of our writing to help you – our amazing Liberty Jane Partners – we hope this new resource is a big help. We are honored to serve you.


Jan
2014

Pricing Principle #10 – A Good Business Has Pricing Power

categories: branding, pricing, reputation

cover 11

This is a continuation of our Pricing Power – 10 Proven Pricing Principles posts. If you likethis topic, then you can see the prior posts here. Read the introductory post to understand the purpose of this set of articles and how they came about.

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Principle #10: A good business has the ability to raise prices. If your business doesn’t have that ability – you might need to reconsider things.

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 This post has been truncated so that the full collection of pricing principles can be placed on the Kindle platform as Craft Pricing Power. For the spring of 2014 you can download it for free on the last Friday of every month. Get it here.


Jan
2014

Pricing Principle #9 – Free Is The Most Powerful Price

categories: pricing, Sell

cover 11This is a continuation of our Pricing Power – 10 Proven Pricing Principles posts. If you like this topic, then you can see the prior posts here. Read the introductory post to understand the purpose of this set of articles and how they came about.

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Pricing Principle #9 – Free is the most powerful price!

[ This post has been truncated so that the full collection of pricing principles can be placed on the Kindle platform as Craft Pricing Power. For the spring of 2014 you can download it for free on the last Friday of every month. Get it here. ]

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Jan
2014

Pricing Principle #8 – You Maximize Price Through Differentiation

categories: pricing, Sell

cover 11This is a continuation of our Pricing Power – 10 Proven Pricing Principles posts. If you like this topic, then you can see the prior posts here. Read the introductory post to understand the purpose of this set of articles and how they came about.

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Principle #8 – You maximize price through differentiation.

[ This post has been truncated so that the full collection of pricing principles can be placed on the Kindle platform as Craft Pricing Power. For the spring of 2014 you can download it for free on the last Friday of every month. Get it here. ]

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Jan
2014

Pricing Principle #6 – Willingness To Pay Is Influenced By Time & Place

categories: branding, pricing, scarcity, Sell

cover 11This is a continuation of our Pricing Power – 10 Proven Pricing Principles posts. See the prior post, #1, #2, #3, #4, and #5 here.

Principle #6 – Willingness To Pay Is Influenced By Time & Place.

[ This post has been truncated so that the full collection of pricing principles can be placed on the Kindle platform as Craft Pricing Power. For the spring of 2014 you can download it for free on the last Friday of every month. Get it here. ]


Jan
2014

Pricing Principle #5 – Your Price Can Vary Depending On How Presold Your Prospect Is

categories: pricing, Sell

cover 11This is a continuation of our Pricing Power – 10 Proven Pricing Principles posts. See the prior post, #1, #2, #3, and #4 here.

Pricing Principle #5 – Your Price Can Vary Depending On How Presold Your Prospect Is. If your prospects are eagerly awaiting your new product, then you can charge a lot more than if they aren’t familiar with you or your product.

[ This post has been truncated so that the full collection of pricing principles can be placed on the Kindle platform as Craft Pricing Power. For the spring of 2014 you can download it for free on the last Friday of every month. Get it here. ]


Jan
2014

Pricing Principle #4 – Align Pricing & Business Goals

categories: goal setting, pricing, Sell

cover 11This is a continuation of our Pricing Power – 10 Proven Pricing Principles posts. See theprior post, #1, #2, and #3 here.

Pricing Principle #4 – You’ve Got To Align Pricing & Business Goals.

[ This post has been truncated so that the full collection of pricing principles can be placed on the Kindle platform as Craft Pricing Power. For the spring of 2014 you can download it for free on the last Friday of every month. Get it here. ]


Apr
2010

The 4 Pricing Paths

categories: Jason's Articles, Partner Resources, Sell

Let’s talk about your options for pricing!

Look at any seller in eBay or Etsy, (go ahead, go pick a seller), and observe whether they are listing a lot of things or just a few things, and whether they’re selling their items for a high price or a low price compared to their peers.

Over time every seller chooses one of these 4 paths, there are just four. What are the 4 paths sellers can choose from?

It’s like the sign on that old country road,

‘pick your rut carefully, you’ll be in it for the next 20 miles’

If you start your business selling a little for a low price, guess what you’ll probably grow into? Selling a lot for a low price. Is that where you want to position yourself? And if you start your business selling a little for a high price, guess what you may (or may not) grow into? Selling a lot for a high price! But here’s the hard part of your ‘journey’ to become a high volume high price seller. You’ll encounter several temptations that will try to thwart your efforts. They are,

 

1. Competitors that match your offerings and lower prices forcing you to compete on price or fail.

2. A strong temptation to lower prices to increase volume.

One of these is an external threat, the other an internal temptation. Both must be avoided if you’re going to become a high volume, high price seller. But even if you never become a high price, high volume seller, it’s often times better, in economic terms, to remain a high price, low volume seller, and just manage your brand and customer base carefully, (think Rolls Royce). How many high volume low-price stores can you think of that have horrible brands, and eventually go out of business? That happens more often than anything else.

It’s obvious that the best place to start is by selling at a high price. And of course, I’m not talking about absolute price, (like selling items over $10,000), I’m talking about relative price, (like 10 times your cost of goods). I’m talking about ensuring you start with a high margin item. And that you find a way to offer your goods at a premium price in your market. If there is tons of undifferentiated competition in your category, you won’t be able to do this, but if you’re niche is small enough to dominate, then you can position yourself as the premium brand.

Of course, you might be thinking, ‘how does running auctions fit into all of this? – because then I’m not setting my prices, the marketplace is doing that for me!’ Good point. In some ways, running an auction is like a democratic way of setting your pricing path. You let ‘the market’ help you find your way. If your designs, photography, and brand identity are all spot on, then the market will catapult you to the top of your niche. You’ll be a high priced seller. If something is off, then the market will penalize you for it. The great part is – once the ‘market’ has placed you into a high selling spot, then you can legitimately own that spot. It’s the strongest of all brand positions – a market reinforced statement of your pricing legitimacy.

Remember your pricing strategy is a reflection of your brand strategy. Price wisely.

 

 

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