Eric Siu says, “Pricing can be used as a marketing strategy. For software-as-a-service (SaaS)-based businesses, this is especially true. Pricing can generate interest, drive sales and attract new customers to your list and business.

If you never thought about using pricing as part of your marketing strategy and simply slapped your best guess onto the current price tag, take heart: The great thing about digital products is that you can always adjust their price. Better still, try testing each of these eight pricing strategies for your digital products, and see which one works best for you.

Here are pricing strategies for digital products that sell (Note: Although we often think of SaaS the way we do subscription-based software, such as subscriptions to Microsoft Office or a favorite virus protection tool, “SaaS” can also refer to other digital products with a recurring subscription-based model.)

1. Know the market, and price competitively.

Complete a competitive analysis and assessment so that you know how others in the industry are pricing similar digital products. Then, price yours to position it against the competition. If your product offers exclusivity, bonus content or a value-add that competitors’ products do not include, consider pricing that’s slightly higher or at least leverage the value-adds in your marketing messages”.

8 Pricing Strategies for Your Digital Product

Entrepreneur

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