Ep 26: Pricing tips for your digital product or serviceNov 08, 2022
In this spoke episode, we will dig deeper into how to price your digital products or services. If you didn't catch Episode #24, which is the wheel, or #25 which is the first spoke, go back and listen to those before viewing this episode.
In this episode you’ll learn:
- How to take your step-by-step instructions from last week, and decide how you want to offer your services to future clients.
- How to decide who your target audience is so you know what to charge.
- How much support you want to offer your clients will play a large part in how much you charge.
Here’s what you can find in this episode:
[:32] Welcome back to the series all about turning your hobby into a side business or supplemental income. In this episode, we are going to talk about ways to approach pricing. I can't tell you exactly how to price your items, but I can point you in the right direction,
[1:00] In the last episode I gave you a small activity to create a list of 3 to 7 steps of how to do your hobby from start to finish. This is the first step to reaching your goal, but we're not there yet. I want to help you avoid the traps that people fall into when starting a remote work business.
[2:00] Here are some of the ways people price their digital products and services. Pricing is both an art and a science. It will give you some clarity when you combine it with your step-by-step directions so you can decide what you want to turn it into. A consulting business, a digital product, or a service just to name a few.
[3:30] People might be able to find a YouTube video to learn what it is they are looking for. This might not work for some people so those that they are willing to pay for a tutorial are the audience you want to target. The price range depends on the product. The lower price range would be an e-book, and a higher price tag would be one-on-one learning.
[5:00] If you are offering a course that can be watched at the student's discretion, or an e-book these can be priced at a lower cost, but can get your product out to more people. You do not offer a lot of support with these items.
[5:50] Maybe you offer a live group presentation where you can charge more for this service. The subscription model would also be a possibility for consistent income.
[6:50] If you want to work one on one with a client so you can give them all your time and attention then you can decide how you want to charge those clients. By the hour, by the project, or offer a bundle price.
[8:00] When you go back and look at your steps, see where your steps best fit. A video series, a workbook, one on one lessons, or whatever conveyance you come up with. Then decide what price spectrum your service is working under.
[9:20] If you haven't gotten to this point yet, no worries! I am just walking you down the path to help you learn how to earn an income from your hobby.
[9:50] Have fun with this, and I'll see you next week!
If you have any questions Click here to DM on Instagram.
Looking for more inspirational ideas? Sign up for my free training:
How To Get Remote Work To Have A Flexible Lifestyle (Without Running Out of Money), https://www.camilleattell.com/remote-training
Rate, Review, & Follow on Apple Podcasts
If you’re loving the Remote Work Retirement Show please consider the rating and leave a review! This helps get the word out about the show and helps other people find hope and practical steps to find the right remote work for them. Click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then let me know what you loved most about the show.
Also, make sure you don't miss an episode by clicking here to follow and get notified when each one is published.