Amanda NorthcuttFounder & CEO | Keynote Speaker, LevelUp · B2B sales as a solo is HARD. I’ve got you. I help consultants & coaches sell high-ticket services comfortably & confidently, while enjoying consistent, predictable revenue | Founder & CEO | Speaker |

Don't underprice your product

19 Dec 2023 · 1 min

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In this segment, the speaker outlines practical guidelines for pricing creator‑focused products such as workbooks. The core rule of thumb is to set the price relative to the size and expense of the problem the product solves for the customer—larger, costlier problems justify higher prices. If the information is both critical and hard to obtain, a multiplier can be added to the base price. The speaker stresses the importance of researching industry norms and competitor pricing, warning against arbitrarily pricing a product 20% below the nearest competitor unless the offering is a commodity, which most creator products are not. Finally, the talk emphasizes a creator mindset that values one’s own work: take pride, deliver excellence, solve a genuine problem, and loyal followers will be willing to pay the asked price.

Chapters

What you can charge for your workbook will vary pretty widely based on a bunch of factors we've already covered, but one rule of thumb to go by when you're pricing something out is to consider how big and expensive the problem your product solves is for your customer. Obviously, the bigger, more expensive problem you're solving, the more you can charge for the solution. Similarly, if the information you're selling in this product is very important and also hard to come by, you can put a multiplier on your price point. Other things on pricing would be always take into account industry norms and do competitor research, but please do not price your product like 20% lower than your closest competitor just because you think that will increase your sales. It probably won't unless what you're selling is a widely available commodity, which it probably isn't. Again, we can't stress enough this like creator mindset of valuing your own work. Take pride in your work, make it excellent, solve a real problem, and your loyal followers will pay what you ask.