Determining the actual worth of a digital product can be quite a tricky business. Are you a developer, a content creator, or a designer? Do you ghost write for clients? Whichever one you digitally do, you can’t be too sure you are doing a good job at making sure you are getting paid the real worth of your product. You fix a price anyway. Arriving at what can be termed a reasonable figure is always a tall order.
Do you rely on the ‘Cost of Production’ to guide you in price determination? If that is your approach, then how will you fix your price in a situation where all you have as inputs are your laptop/table, airtime (internet), your man-hour and knowledge? Or do you rely on the power of your digital product to satisfy need/want? Will your monopolistic power, that is if you are a monopolist, guide your decision?
Remember, every consumer out there is yearning for a fair price. Are they really fair to expect you to quote a price, low enough, to encourage a rise in their appetite for your product?
Faced with such a task, how do you navigate your way through the maze of options available to ensure you have a WIN/WIN. It is only a WIN/WIN that guarantees that much needed success that can boast of longevity. It is safe to say that the digital product market is relatively new and complex to expect it to attract the conventional method of price determination. This is why it has become necessary to begin to embrace an approach, universal enough, that will seem fair to all parties. What is this approach? How far are we from it?