I wasn’t always able to sell digitals the way I sell products. In fact, the word digital scared me. I had put so much work into learning how to sell products and testing my approaches that I hadn’t even thought about how to sell digitals. Through learning how to sell products, I learned how to build value for the products I was offering. The albums and wall galleries were family heirlooms that served as a valuable daily reminder of what is most important to people. Having something in your home you can look up at every day and feel better about the troubles you’re facing is priceless. I could sell that all day long to my clients because I understood the value of it.
For the past two months in The Business Corner, we’ve been building your price list from the ground up by first determining a retail value for each product you sell. Last month, we looked at alternatives to the cost-based pricing model, examining products and situations for which cost-based pricing doesn’t work (November 2018, “Your Dream Studio: Strategies Beyond Cost-Based Pricing”). One product we briefly discussed last month that breaks the cost-based mold is digital files. For this month’s theme of digital strategies, let’s further explore how to price and sell digital files.