WordPress Information Product Pricing Methods for Product Launch

It is important to know info product pricing methods for our new product lunch in WordPress. Different products or business services need a unique pricing model to sell successfully. In WordPress, the info product launch requires simpler product delivery as a bundle or a program. So WordPress has many pricing methods for new product launches. The right product pricing method for the product increases sales and customers engagement.

The new product or business service pricing depends on the product type and delivery. There are many product types available in WordPress. For example, downloadable PDFs, Ebooks, guides, videos, and podcasts will be priced differently from a subscription program, membership sites, and live events. When we consider the business service in WordPress, it needs to be offered a contract basis such as yearly or target basis. The services may be maintenance, upgrade or new creations, etc.

Why different pricing methods for WordPress products?

We all know well WordPress is a popular content management system globally. It provides many multiple methods to manage and deliver content to the readers. The tags, categories, archives, and custom post types help arrange the publishers’ online content that helps readers easily identify the required information.

So WordPress is the best platform to create and deliver info products to the readers because of its data management structure. This ability helps create innovative info products and deliver them to the readers in multiple methods. It is suitable for running long-time or short subscription programs for teaching concepts via WordPress. We can even create the whole concept as a bundle and sell it online. So these strategies provide WordPress products with multiple pricing methods.

We can classify WordPress products into four categories to sell them online.

  1. Downloadable products
  2. Membership Programs
  3. Subscription programs
  4. Live Events programs

So we can sell our knowledge in a particular topic by info products or services via WordPress. The business services may offer using subscription services inside the membership programs. We will see the different types of information product in WordPress to sell online at the next post. Every product type required unique pricing methods. We can use different price levels based on the quantity and quality of the product.

Why do we need multiple price levels in for info product?

In WordPress, every product category has a different product type: ebooks, videos, podcasts, and ppt with infographic images. All are downloadable products, but each one needs different product delivery and accessibility. Every person needs extra attention and requires simple ways to learn concepts. So based on the depth of information delivered in different methods requires multiple levels of pricing standards even in single category products like downloadable.

Product Pricing Methods

Product Pricing Methods

Each category like membership, subscriptions, live events and downloadable products may have multiple levels of price values. This article discusses the pricing methods for the four category products in WordPress.

Moreover, every pricing method can increase sales with customer satisfaction. It can avoid bulk pricing and payment spent for required information. The right pricing methods help customers to be paid for what they require. Not necessary to buy the entire product to learn part of the information. So WordPress provides such flexibility in payment for the customer and product pricing.

Product pricing methods in product launch

The product pricing method can solve two major issues: low pricing for quality products and higher pricing for larger quantity products. In both the methods, the customers were not satisfied with a high price and asked for refunds at one stage, and the product creators were not satisfied with the lesser amount for the quality product.

Different pricing methods help slice the depth of the product information and sell it to the right customer who requires the knowledge quickly. It helps people can learn concepts quicker and easier. Moreover, they can be ready to pay high for it. Now we will discuss the pricing methods for new product creation and launch in WordPress.

1. Free Giveaway Pricing

The free giveaway is one of the efficient info product pricing methods to increase sales. We can use this method for all four product categories. The sample product is given for free just before the actual product is presented to the customers. The free giveaway product may be an Ebook, video or podcast series. It will be available for the customer after the subscription by email address on the landing page during lead generation process.

The free giveaway is a downloadable product. We can send the download link via email. Or we can use a membership site with free access to some resources. The videos are sent at a particular interval with embedded video in the mail in a video series.

Or we can send login access to watch all the videos within the membership area for free. Once they realized the quality of the information provided in the free give-away products. They are ready to pay for the new product without hesitation about its prices. The free giveaway is the traditional trust builds a strategy to sell info products online.

Remember. In free give away we should provide completes the solution for the problem. Not going to ask people for payment for a higher solution in a free giveaway product. The free giveaway product is not a promotional one for our business. It is the best market capture method by providing the right solution for the customer’s problem.

We can use the free giveaway product pricing strategy before all four product categories to sell in WordPress. We can give free giveaways before any downloadable, membership, subscription and live event product launch in WordPress. Sometimes the downloadable products may provide a free version with limited features access as a free giveaway.

2. Trial Based product Pricing

The info products or WordPress business services can use trial-based product pricing in WordPress. We can provide the free trial price for a limited amount of days. For example, a 14 day or 30-day trial is the best option for subscription-based products and membership products. The yearly subscription program may provide a 30 day trial period for unlimited usages.

Free trial pricing

Free trial pricing

However, in the case of downloadable products, We can offer the trial option in two ways. The first is 14 days trial with full features access or lifetime access with limited features. For the live event program, we can offer a one-day free workshop about the initial part of the event. Later the main event will be held.

The subscription programs may offer a free trial period of 14 days with complete feature access or limited feature access. The free trial of the product or service is based on its delivery nature. The subscription product uses API keys, and the service uses login access to receive continued service after the trial period.

3. Single Payment product Pricing

In single payment, product pricing can be widely used in-app products. Downloadable and live event products are always a have single payment pricing. For example, eBooks, PDF, Video tutorials, PPTs and podcasts are the downloadable product. We can use the single payment for downloads. We can use this product inside the membership site as a bundle of single payments, or we can use everyone as a single product and fix individual prices for every download.

Many downloadable products in WordPress such as themes, plugins and info products like eBooks and video have single payment for the product. Unlike ebooks, The themes and plugins are updated whenever WordPress CMS is updated. So we can use a yearly license or lifetime license with single payment options.

We can also combine single payment products into a bundle within the membership site and use single payment pricing with a discount for better conversions. The subscription products do not come in this pricing method. Because subscription products always need multiple payments based on the length of the subscription. We can combine all the payments into a single bulk amount as a one-time payment in subscription products. We will discuss it in the latter part of this article.

Membership products, based on the situation it use single payment or multiple payments pricing for the membership content in it. A single payment is an extra option provided in subscription and membership products. However, it is not a primary pricing option in these two categories.

4. Subscription Payment Product pricing

The subscription payment product pricing is used in many business services such as maintenance, upgrade, monitoring, development, audit, reporting, and analytics. Nowadays, every business service is offered as a productized service, so it needs subscription-based pricing, a single payment, recurring payments, or scalable payments for every service within the subscription.

Subscription Product Pricing

Subscription Product Pricing

Apart from the business services, the subscription products like online courses, subscription programs, SEO services use subscription pricing. These products are either downloadable are accessed within the membership area using API or login access.

The pricing method for the subscription product has three methods listed below.

  • One-time Subscription Payment
  • Recurring Subscription Payment
  • Scalable Subscription Payment

One time Subscription Payment

One-time payment helps to access the entire product until the subscription lifetime ends. It may be downloadable or lifetime usage products or services. The subscription lifetime is also called membership lifetime. All the upgrades for this product are available for them free with support until membership lifetime ends.

Recurring Subscription Payment

In WordPress, we define the product lifetime, especially in info products like online courses, maintenance services, monitoring services, reporting and auditing services. These products and services will be recurrently charged at infrequent intervals such as monthly, quarterly or even yearly payments.

We should offer the services until the customer pays. The length of the subscription is not a fixed one. But In the case of products, we defined the subscription length as five or six terms. So customers can pay every month as a monthly recurring payment, or pay every three months for a recurring subscription, or they can pay the entire subscription length as a single payment. But here We should offer the product services for six months.

Scalable Subscription Payment

The scalable subscription pricing is now available with a membership subscription. This pricing method is the best method for a business to business products. It helps the customer scale up or scales down the business services or product features when required. It is the best customer-friendly and trustable pricing method for product subscriptions.

For this kind of pricing, the product has initially subscribed with its essential features by the customers. Later the customers can scale up or scale down additional features required for their business growth. We can provide free, freemium, and premium strategies in scalable subscription pricing methods.

5. Upsell payment product pricing

The upsell product pricing is one strategy to increase revenues by selling the related product at a discounted price during the successful first product sales. The checkout page is the last step before purchasing the sales funneling process. We provide an additional offer to the customer on the checkout pages by selling additional products at a discounted price. So we can sell two products in a single step with one customer.

Upsell Product Pricing

Upsell Product Pricing

The product upselling sometimes creates a negative impression on sellers, and the result may end by losing even the first sales. So we need to be careful while upselling the product with its price value and discounts values. The product upsell takes place on checkout pages. Some upsell pricing methods use exit discount offers for the original product price to avoid the loss of customers.

We can use product upsell pricing for downloadable, membership and subscription-based products. So we should use any one of the above five pricing methods for our new product launch in WordPress based on the product nature.

Conclusions Info product pricing in WordPress

In summary, WordPerss info product pricing methods for new info product launches in WordPress depending on the content’s depth and length of its support offering. We should not use low pricing for high-quality products and higher prices for the low-profile product. Both become unsuccessful during a product launch in WordPress.

The product pricing depends on product nature and choice of content delivery. Generally, WordPress uses four categories of info products to deliver its valuable information. The product types are downloadable, membership sites, subscription-based and live event programs. These four types of info products use five different pricing strategies to deliver free, freemium and premium methods.

The five product pricing methods are free to give way pricing, Free trial pricing, single payment product pricing, subscription product pricing and Upsell product pricing. The subscription method has different pricing methods such as one-time subscription, recurring subscription and scalable subscription pricing for the WordPress products.

FAQ – Product Pricing Methods for product launch

What is a Product pricing method for an info product launch?

Product Pricing is the suitable pricing strategy used to deliver valuable information using WordPress product launch. The price value should demand the product and increase the customer base. The subscription-based product method is the best for info product launch in WordPress.

Why do we need different product pricing methods?

In WordPress, the info products values depend on two factors. One is the depth of information the second one is its delivery method to customers. Based on the customer nature and problem urgency, the product price varied and became saturated at one level. So we need different pricing methods to deliver for different kinds of customers.

How to choose a price method for an info product?

In WordPress, the info products need a period to educate the customers. So the subscription-based pricing helps to deliver the concept completely to the interested customers. The downloadable product like eBooks is created for the targeted people only to understand the depth of the information in it. We need to choose a price based on the depth of content and customers’ knowledge.

What will we get if we choose the right pricing method?

The right pricing method helps grow the customer base and increases repeated sales within the quality customer base. The growth of customers’ knowledge always increases the revenues from our product through in-person marketing.

 

Get the Free Updates and Access

If you are going to use a passage of Lorem Ipsum, you need to be sure there isn’t anything embarrassing hidden in the middle of text. All the Lorem Ipsum generators .

View all contributions by

{ 0 comments… add one }

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.