You’re Probably Not Going To Die Over Your Pricing

You're probably not going to die over your pricingSo I’m looking at buying a book. This book is called Crucial Conversations: Tools for Talking When The Stakes Are High. I am looking at buying this book because for some reason, Dave and I cannot hold a conversation these days without someone ending up in tears.

(I blame the Cardinal Grand Cross. And Mercury in Retrograde. And Neptune in retrograde. And Mars in retrograde. Good Lord, it’s amazing neither of us is dead.)

Here is a sample conversation in my office:

One of us: So have you had any thoughts about the YouTube thing?

The other: Jesus ****ing Christ, why did you have to bring that up today?

So here I am, reading the sample, thinking about buying this book, which could be alternately titled How to Stop Crying At Work, Naomi, And Dave, Perhaps You Could Work On The Sighing Thing. Having looked through the sample and putting it off because, well, it’s easier to blame him for a little while longer than to jump in feet first and take responsibility for my part of the problem, I decide to mosey around looking at the authors’ other books.

They have another one, called Crucial Accountability. It looks good, too, and it is said in the reviews that it’s basically a rehash of the first one, but more practical. So it seems like getting both might be a good idea.

And then! Miracle of miracles, there is an ebook bundle I could buy. I didn’t know they did this in any industry other than self-published erotica, so I am intrigued. (Also, yes. I like kits. Hi, Mom.)

So my finger is poised above the Buy Now With 1-Click button – naturally, I’m using Dave’s Amazon account, because I’m passive aggressive like that – and I check to see how much it’s going to cost.

It is $21.99.

Now, $21.99 is not a lot to pay for peace. It’s also a lot cheaper than mediation, or calling up a couple’s counsellor to say, “Hi, we’re business partners, but I fought less with my first husband than I fight with this guy”. But I said to myself, “That’s not much of a deal.”

So I go and forage around and I find out that the digital price for book number one is $9.99, and the digital price for book number two is $9.00.

Neither of the books appear to be on sale.

Buy one book, and then the other book, pay $18.99.

Buy both in a bundle and pay $21.99.

Not much of a deal indeed.

Now here’s where things get weird.

I almost bought it anyway.

I almost reloaded the (now gone) page for the bundle to purchase it anyway, for a higher price.

You know how we’ve been saying for eight years that marketing is about psychology?

What kind of a brain would do that?

A human one, that’s what.

What this means to you today.

We get a lot of questions from a lot of people asking what their pricing strategy would be. A lot of angst goes into the process of figuring out what launch pricing should be, what sale pricing should be, what bundle pricing should be, and so on. There’s a lot of navel gazing that goes on around this topic, as there should be.

The ittybiz owner asking the question wants to avoid this little mess of a situation.

But here’s what you need to know.

There are, realistically, three possible outcomes once your customer-to-be comes across a weird situation like this one.

  1. They roll their eyes and buy one book, or one book and then the other book, to save their three bucks. Fairly likely.
  2. They buy the bundle because they didn’t even bother to look. Likely enough.
  3. They don’t buy either because they hate you, or because they decided to stop the checkout process to write a blog post about you. Not that likely, but clearly possible as evidenced by the article you’re currently reading.

There is no secret fourth outcome in which you die and your business fails.

You should take your pricing seriously, just like you should take your tagline seriously, your contact page seriously, and your email sequence seriously.

But if you mess it up, there is a very low chance you will die.

If this topic interests you, read this too. It is tangentially related.

Now I’m going to go read the book because somebody is going to ask me if I’ve read it and if I haven’t I’m going to look like an idiot.

About the author: Naomi Dunford started IttyBiz in 2006. In her free time, she likes to… ha! Free time. You’re adorable. Learn more about her here and catch up with her on Twitter or Facebook.