#30: How to Find the Right Price for Your Digital Product Without Undervaluing Yourself

Ever find yourself stuck in pricing paralysis? You're not alone. 

In this candid, tough-love episode, I'm challenging the conventional wisdom around digital product pricing. While high-ticket offers have their place (particularly for programs offering extensive access to your expertise), I've discovered that clinging to this model exclusively was preventing me from helping countless people who weren't ready for thousand-dollar investments. The breakthrough came when I realized a lower price doesn't diminish value, it expands impact.

The fear of undervaluing your work or appearing "cheap" can be paralyzing. But here's the truth: customers don't determine value by price alone. Your expertise, branding, messaging, testimonials, and content quality all shape their perception far more than that dollar figure. If you're worried about looking "cheap," upgrade these elements rather than arbitrarily raising your price.

The most successful digital entrepreneurs embrace experimentation. Launch your mini-course at $97 and not see the conversions you hoped for? Try adjusting the price, adding more value through bonuses, or testing a different format altogether. Each attempt provides invaluable market data you simply cannot access through contemplation alone. Remember, you'll learn more from launching at the "wrong" price than from never launching at all.

Have you been holding back on sharing your knowledge because you can't decide on the "perfect" price? I'd love to hear what action this episode inspires you to take! Tag me on Instagram or leave a review sharing your biggest takeaway, and remember, I'm cheering you on every step of the way.

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Episode Transcript

Alyssa (00:00):
This is a big newsflash.
You might mess up, you mightpick a price point that doesn't
work right away, but that's okay, because you'll learn more from
that experience than you wouldever from never trying.
Welcome to Brilliant Ideas, thepodcast that takes you behind
the scenes of some of the mostinspiring digital products
created by solopreneurs justlike you, by solopreneurs just

(00:25):
like you.
I'm your host, alyssa, adigital product strategist who
helps subject matter expertsgrow their business with online
courses, memberships, coachingprograms and eBooks.
If you're a solopreneur withdreams of packaging your
expertise into a profitabledigital product, then this is
the podcast for you.
Expect honest conversations ofhow they started, the obstacles
they overcame, lessons learnedthe hard way and who faced the
same fears, doubts andchallenges you're experiencing,

(00:46):
from unexpected surprises tobreakthrough moments and
everything in between.
Tune in, get inspired and let'sspark your next big, brilliant
idea.
Welcome back to another episodewhere I'm going to give you a
little tough love when it comesto pricing your digital products
.
This is a short one, but Idon't hold anything back Now.
This tough love approach topricing is what I use with my

(01:07):
clients because, trust me, afteryears of trial and error and a
few near meltdowns, I havethoughts and I'm here to share
them with you.
Now let me start by being superhonest.
So I used to recommend theultra high pricing model.
You know the whole charge whatyou think you're worth.
Aim for five figures.
You're too valuable to be abargain bin coach.

(01:28):
And hey, that was, you know,genuinely what I believed back
in 2021.
And for certain products, likemasterminds or like high ticket
coaching, that approach canabsolutely work, and sometimes
it needs to be at that level,because you're providing a lot
of access to you for a longperiod of time, so for that it
does make sense.
But here's where my aha momentcame in.

(01:49):
I realized that I was scaringaway a huge chunk of people who
could actually benefit from myknowledge.
So these were people whoweren't ready or able to drop
thousands of dollars on aprogram right out of the gate
and guess what?
That didn't actually feel good,because, at the end of the day,
my mission isn't just aboutmaking money Although, yes, okay

(02:09):
, important it's also abouthelping as many people as
possible to get thetransformation they need.
And so I had this moment ofclarity and I thought, okay,
well, hold on.
Why am I assuming that everyoneneeds to jump straight to the
thousand dollar mark.
What if I offered somethingmore accessible so that they can
dip their toes in first?
So let's talk about low ticketoffers for a hot second.

(02:35):
A lower price does not meanlower quality.
So if you have a $27 minicourse or maybe a $37 workshop
or even like a $9 ebook, it canstill deliver an amazing, insane
value.
And the key is to make surethat whatever you're offering
has to solve a real, specificpain point for your audience.

(02:56):
Now a lower priced productbecomes that no-brainer.
Why not purchase?
If they love it and you knowthat they will they're far more
likely to trust you.
When you present a highertiered offer down the line,
you're building a relationshipand a track record of delivering
results, even at a smallerprice point.
If you're anything like me, yourdigital products sometimes feel

(03:17):
like your babies, like you areso attached to them you pour
your heart, soul and countlesshours into creating them.
You might feel like you'reputting a part of yourself out
there for sale, and so the ideaof offering a lower price can
feel like a huge betrayal, andit's really normal to wrestle
with that.
There's this fear like if Iprice it too low, people might

(03:38):
think it's less valuable.
But then you might think, well,does that mean that I'm less
valuable, like me personally?
And what if it doesn't sell atall?
Do I look silly?
Do you see how quickly ourminds can spiral into intrusive
thoughts that are not based onreality at all?
And so here is my tough lovemoment.
Yes, I understand that yourproduct is precious, but your

(04:01):
customer's perception of valueisn't really only determined by
price.
Like they look at yourexpertise, your marketing, they
look at your branding, they lookat your testimonials and the
actual content that you deliver.
So if you're worried aboutbeing perceived as quote unquote
cheap, I want you to start upleveling your branding and your
messaging.
Communicate the value veryclearly.

(04:22):
Give them a reason to see thatthe price is actually a steal
and that they're lucky to havestumbled on such a gem.
So I want to just cut to thechase here.
You're allowed to experimentwith your pricing.
I know it might feel like alittle risky or embarrassing to
suddenly change your pricingstrategy, but guess what, you're
an entrepreneur.
Or embarrassing to suddenlychange your pricing strategy,

(04:42):
but guess what, you're anentrepreneur.
You're supposed to try stuff,see what works, pivot if needed.
So, for example, let's say youlaunch a mini course at $97 and
you notice it's not selling likehotcakes.
So you have a few options.
You can either lower the priceand see if that boosts
conversions.
You could add more value.
So you could add just morestuff like bonus lessons,
templates, extra support, butyou keep the price the same.

(05:03):
Or you can test a differentformat.
So if your self-paced courseisn't selling, why don't you try
a live workshop instead?
And I find that every time Italk about pricing I get
messages from people saying thatthey say well, I just can't
bring myself to do it.
Like I get so scared that if Igo too low in my pricing I'll
cheapen my brand, but if I gotoo high I won't sell anything.

(05:26):
It's like we're constantlystuck in this middle paralyzed
fear.
We're just so afraid to mess up.
And I want you to knowsomething.
This is a big newsflash.
You might mess up, you mightpick a price point that doesn't
work right away, but that's okay, because you'll learn more from
that experience than you wouldever from never trying.

(05:48):
So you'll figure out what youraudience, how your audience
reacts, what they're willing topay for, and then how to
position your offers that youkind of meet like a sweet spot
range that your audience reallylikes and then, once you pick
that sweet spot range, yourepurpose it, reuse that sweet
spot range.
You keep to it.
So it takes time to find thatsweet spot.

(06:11):
So if you don't get the firsttime, that's okay.
So I want to break this downinto some steps that you can
take away right now to figureout the best pricing for your
digital product.
You can assess your audience,okay.
So find out who they are, whattheir budget comfort zone is.
Yes, that does exist, and Iwant you to not guess like ask

(06:33):
them using polls, surveys andlike conversations in the DMs.
If you're using Instagram andthen look at your competitors,
ok, like don't copy them, butjust to see where you stand in
the market and then start smalland then expand.
So if you're brand new or you'rebuilding a relationship with a
fresh audience, consider a lowticket offer as their foot in

(06:55):
the door.
So once you've delivered realresults, you can present a
bigger, more expensive offer.
And then I want you to framethe value.
So, if you're offering a $37ebook, make sure your audience
knows it can save them hours offrustration or help them earn
more money quickly or solving apressing problem.
So explain why that $37 is asteal.

(07:19):
And then I want you toexperiment.
I know no one likes toexperiment.
I love to experiment.
I love to see what works andwhat doesn't work.
But don't be afraid ofexperimenting.
Try a three-day flash sale or alimited time price just to see
how people respond.
Gather that data that is goingto be so valuable and then post
your results.

(07:40):
Tell the story of how it cameto be and why you're putting,
why you made this price $37instead of, you know, $500.
Adjust your strategy as you needto.
And look, I have been on bothends of that pricing spectrum.
I have gone super high like I'mtalking four or five figures
high.
I've gone low.

(08:01):
I've changed my pricesmid-launch.
It's all part of that journey,and so if you've been holding
off on launching your productbecause you're terrified of
setting like the wrong price, Iwant you to consider this the
wrong price is the one that younever release, because that
means that your knowledge isn'tout there helping anyone and
you're not making a dime either.

(08:22):
So putting something out there,even if you adjust it later, is
always better than just sittingaround overthinking and doing
nothing and that's a wrap.
My friends, go, experiment andfind that sweet spot where your
product's price feels both fairand profitable.
Until next time, I'm cheeringyou on every step of the way,
and I'll see you next time onanother brilliant idea.

(08:43):
Thanks for tuning in into thisepisode of Brilliant Ideas.
If you love the show, be sureto leave a review and follow me
on Instagram for even moreinsider tips and inspiration.
Ready to bring your next big,brilliant idea to life?
Visit AlyssaVelsercom forresources, guidance and
everything you need to startcreating something amazing.