Underpricing is a common tactic to use to boost sales. Self-published authors only charge $2.99 for their books to get a higher volume of sales. The people who underprice their products forget to create a platinum priced product. A platinum priced product is exactly what it sounds like, a very expensive product that will scare some people away because of the price tag alone.
However, having a platinum priced product will boost your volume of sales. Having a platinum priced product will make your lower prices look more attractive. If you wrote 1 book for $9.99, and you sold your other books for $2.99, the books for $2.99 would look a lot cheaper than they really are.
Brendan Burchard sells his Total Product Blueprint training course for $1,997. For many people, that training course will seem ridiculously expensive. However, when you see Brendan Burchard’s books, The Millionaire Messenger and The Charge both at under $15 for both Kindle versions, they look a lot more inexpensive for $2.99 books.
$2.99 is less expensive than $15, but when you have to choose between $15 or $1,997, changes are you will go with the $15. The $15 is a smaller investment which means less risk. In the end, some of the people who buy Brendan Burchard’s $15 books end up buying his $1,997 training course.
Brendan Burchard’s platinum priced training course makes his books look a lot more attractive. While free giveaways plays a part in this, both of Burchard’s books have over 150 reviews on Amazon (mostly positive). Instead of going cheaper, create a platinum priced product that makes the products you already have look a lot cheaper.
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