The e-book pricing strategy that Michael Hyatt has adopted for his two Writing a Winning Book Proposal e-books is ideal for just about any author or information marketer selling electronic information products over the Internet.
Here’s the strategy in a nutshell: you can buy either Writing a Winning Fiction Book Proposal OR Writing a Winning Nonfiction Book Proposal for $19.97 each…
…OR, you can buy BOTH for just $29.94–and save $10!
Creating a credible and compelling e-book offer
Here are some of the advantages to this e-book pricing strategy and its implementation on Michael Hyatt’s Leading with a Purpose blog:
- Simplicity. One for $19.97, two for $24.94 is a easy to describe and easy to remember. A $10.00 savings appears significant.
- Logical and complementary. The offer makes sense; it’s definitely not a “spend more than you intended on something you don’t need, in order to save money” situation. Writing is writing, and it’s entirely logical that, at some point, nonfiction authors may consider writing a fiction book, and fiction authors may want to write a nonfiction book. Plus, since writers tend to be friends with other writers, you can always share the other e-book with a friend.
- Credible. As you can see when you visit Michael Hyatt’s site, the page projects a professional image, one that’s light-years away from the typical bonus piled on bonus, testimonial-filled sales page. (Don’t you think there’s something unconvincing about $49.95 e-books that come with $495.00 worth of bonuses?) Michael allows the authority of his blog posts, the description of the e-books contents, and his position as Chairman and CEO of Thomas Nelson publishers to sell the quality and insider-perspective of his e-books.
- Visual reinforcement. The tasteful design of the front covers of the e-book, characterized by lots of white space, a restrained use of color, and careful typography, further reinforces the credibility of the offer.
Profiting from technology
Obviously, an offer like the above wouldn’t make sense with conventional physical products, i.e., printed books that needed to be sent via the postal service or couriers to the buyers.
However, in the case of electronic products like e-books, the incremental cost of distributing a second PDF file is negligible, creating a win-win situation for both buyer and seller.
The big question
The question, of course, is what are you doing as an author or information publisher to increase cash flow by creatively pricing bundles of e-books and other electronic information products? Are you taking advantage of the Internet to offer buyers attractive savings while increasing your profits and cash-flow without destroying the credibility of your offer? Does the idea make sense to you? Share your experiences, ideas, and questions below, as comments.