Once you’ve decided what sort of information product you want to sell, you need to decide how to price it. Do you want to go for the big bucks right off the bat?
Probably not.
The key to selling stuff on the Internet is to generate impulse purchases. Unlike a brick and mortar store that people will walk by regularly on their way to work, you usually only have one chance to make a sale – during the two or three minutes maximum that someone is looking at your site.
Therefore, you have to price your product low enough so that people feel comfortable making the purchase without too much thought.
That’s where the $100 rule comes in.
Market research studies show that when thinking about buying something people are much more willing to make an impulse purchase if the item costs less than $100. In fact, a majority of people said that before they’d buy any item costing more than $100 they’d talk to their spouse about it first – which is the last thing you want to have happen.
Therefore, no matter what you are selling make sure you price it less than $100 – even if you just make it $99.99 – or you will lose lots of sales.
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