ARTICLE:

Are you one of thousands of struggling entrepreneurs scared to overprice your products? Now, you can stop peddling your wares for pocket change, and learn to raise the price of your products inconspicuously (or price a new product higher to begin with), to actually INCREASE your sales.

The following 7 tips will help get you on your way:

1. Realize that there ARE going to be several people that will reject your high(er) prices.

Work to convince these prospects that your products ARE reasonably priced by getting them to look at the cost in terms of long-term investment -- not initial out of pocket cost.

For instance, if you charge $75 for an online business startup guide that (thoroughly) covers such things as taxes and accounting, website design, ezine startup, and product creation, stress the value of that *all-inclusive* package.

Remind them that if they got all of the info in your book from independent sources (i.e. a book on ezines, a book on taxes, etc.), they'd be spending several hundred dollars instead of a measly $75.

You can even go so far as to show a few individual vendors who sell each product, and list its price so they'll see, firsthand, how much they're saving by buying from you.

Remind them that if they had to take the time to figure out (or research) how to do everything in your book on their own, it could take weeks.

Or months.

If they put a high value on their time (and I think your ideal customers should), they should then have no problem spending such a small sum on such a sound investment.

After all, what's $75 worth, in exchange for the ability to start their e-biz several MONTHS faster?

2. Know when to call it quits.

Work to convince those "hard sell" customers that your product is definitely worth its price ... but don't work TOO hard on them.

There are possibly several hundred thousand *ideal* prospects in your new niche that won't think twice about spending what they'll feel is "chump change" for a quality product.

You can't please everyone all of the time, and if you're selling a high-priced product, those penny-pinchers are NOT your ideal prospects. They're the ones that take months to make a buying decision ... then still likely end up leaving you out in the cold.

3. Don't get stuck in the middle.

Either your prices are "inexpensive" -- or they aren't. Don't get caught in between.

If you're going to go high, do it boldly and with confidence, or you'll risk the "in my opinion, your products are *a little* pricey" syndrome. You want to avoid creating that kind of indecision in your customers.

Let them see immediately that your products require a high initial investment, if that's your ultimate goal.

4. Be able to back up the high price of your products with quality.

There's a pretty good "duh" factor with this one.

If your product is only worth $50, don't try charging $200 for it -- at least not until you find a way to add to the product, to increase its value, to match (or ideally exceed) its price.

5. Re-evaluate your marketing strategies to attract THE RIGHT KINDS OF CUSTOMERS.

What kinds of customers have you been attracting?

Before you get all up in arms asking how you're supposed to know THAT ... think about it. It's actually pretty easy to figure out.

First of all, what kinds of questions are you normally asked by potential customers?

"How come your price is so high?"

"What makes what your offer so superior to XYZ product that you charge so much more for yours?"

"Can you cut me a deal so I can just give you half the cost of your product? I just can't afford it."

If this is what you've been asked, obviously, you're going to want to re-evaluate your marketing methods and sources to weed out these kinds of "cheapskates." See NOTYourUsualMarketing.com for help with that.

NOTE: If you're being asked those kinds of questions a lot, you may also want to re-evaluate your sales copy. It may not be conveying the true value of your product if indeed it IS unique and worth your asking price.

Second of all, what's your hits to sales ratio? Although a lot of factors can influence that ratio, it can definitely help you find out whether or not you've been attracting the right kinds of customers so far.

A higher ratio could mean that your marketing efforts are right on target, and fit your ideal customer profile. A lower ratio could mean that you need to re-assess your marketing strategies to refine your focus, and attract the right KINDS of customers.

6. Know the difference between "high priced" products ... and  "ridiculously priced" products.

To gauge this, you can look at your competition, evaluating both their product and the price they're charging for it. Obviously, if you're offering a home business startup guide for $30 with no real perks, and are thinking of raising your price to exceed ABC company's $99 guide which includes several perks, it could be a bit foolish to raise your price until you've added to your offer.

On the other hand, "ridiculously priced" products can still work for you if you know how to swing it.

It's all about increasing the VALUE of the products -- or at least, the PERCEIVED value. That's really most important.

It might be easier for you, when you first start experimenting with drastically high prices, to work your way up, raising the price every time you add value. You can also ask someone else in your niche who's currently offering products at similar amounts (and making steady sales!) what their trade secrets are for pushing their own "outrageously priced" wares.

7. Just do it.

No, I don't work for Nike. I'm just a strong advocate of ACTION.

If YOU have the attitude that your products are priced too high and are worrying that your customers feel the same way -- they probably are.

Why?

You've probably given them that impression through your sales copy subconsciously (if you wrote it), and your intimate communications with them.

Don't taint your mind (and actions) with the deadly stench of insecurity. Most people can always tell when you're feeling self-conscious about something, and they take advantage of your weakness, either intentionally or not.

Be CONFIDENT in your prices, and everything about your product. If not, your sales will surely suffer.

TIP: Before I end this, I'd like to advise you to NEVER succumb to the lures of people asking to get your products at a discount, unless they have something concrete *and immediate* to offer you (as in a barter).

Giving your product away for free or at a reduced price almost NEVER pays off, is usually an attempt to trick you, and can cause you much more trouble than it's worth. Stay safe and resist the urge!

And In Conclusion...

Remember, whatever YOU think can work CAN WORK. It's just a matter of getting up and figuring out a way to pull it off.

And honestly ... is that REALLY so hard?