Brilliant Ideas

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

• Alyssa Bellisario • Season 1 • Episode 30

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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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Alyssa:

This is a big newsflash. You might mess up, you might pick a price point that doesn't work right away, but that's okay, because you'll learn more from that experience than you would ever from never trying. Welcome to Brilliant Ideas, the podcast that takes you behind the scenes of some of the most inspiring digital products created by solopreneurs just like you, by solopreneurs just like you. I'm your host, alyssa, a digital product strategist who helps subject matter experts grow their business with online courses, memberships, coaching programs and eBooks. If you're a solopreneur with dreams of packaging your expertise into a profitable digital product, then this is the podcast for you. Expect honest conversations of how they started, the obstacles they overcame, lessons learned the hard way and who faced the same fears, doubts and challenges you're experiencing, from unexpected surprises to breakthrough moments and everything in between. Tune in, get inspired and let's spark your next big, brilliant idea.

Alyssa:

Welcome back to another episode where I'm going to give you a little tough love when it comes to pricing your digital products. This is a short one, but I don't hold anything back Now. This tough love approach to pricing is what I use with my clients because, trust me, after years of trial and error and a few near meltdowns, I have thoughts and I'm here to share them with you. Now let me start by being super honest. So I used to recommend the ultra high pricing model. You know the whole charge what you think you're worth. Aim for five figures. You're too valuable to be a bargain bin coach. And hey, that was, you know, genuinely what I believed back in 2021. And for certain products, like masterminds or like high ticket coaching, that approach can absolutely work, and sometimes it needs to be at that level, because you're providing a lot of access to you for a long period of time, so for that it does make sense.

Alyssa:

But here's where my aha moment came in. I realized that I was scaring away a huge chunk of people who could actually benefit from my knowledge. So these were people who weren't ready or able to drop thousands of dollars on a program 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 about making money Although, yes, okay, important it's also about helping as many people as possible to get the transformation they need. And so I had this moment of clarity and I thought, okay, well, hold on. Why am I assuming that everyone needs to jump straight to the thousand dollar mark. What if I offered something more accessible so that they can dip their toes in first? So let's talk about low ticket offers for a hot second.

Alyssa:

A lower price does not mean lower quality. So if you have a $27 mini course or maybe a $37 workshop or even like a $9 ebook, it can still deliver an amazing, insane value. And the key is to make sure that whatever you're offering has to solve a real, specific pain point for your audience. Now a lower priced product becomes that no-brainer. Why not purchase? If they love it and you know that they will they're far more likely to trust you. When you present a higher tiered offer down the line, you're building a relationship and a track record of delivering results, even at a smaller price point.

Alyssa:

If you're anything like me, your digital products sometimes feel like your babies, like you are so attached to them you pour your heart, soul and countless hours into creating them. You might feel like you're putting a part of yourself out there for sale, and so the idea of offering a lower price can feel like a huge betrayal, and it's really normal to wrestle with that. There's this fear like if I price it too low, people might 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 at all? Do I look silly? Do you see how quickly our minds can spiral into intrusive thoughts that are not based on reality at all? And so here is my tough love moment. Yes, I understand that your product is precious, but your customer's perception of value isn't really only determined by price. Like they look at your expertise, your marketing, they look at your branding, they look at your testimonials and the actual content that you deliver. So if you're worried about being perceived as quote unquote cheap, I want you to start up leveling your branding and your messaging. Communicate the value very clearly. Give them a reason to see that the price is actually a steal and that they're lucky to have stumbled on such a gem. So I want to just cut to the chase here.

Alyssa:

You're allowed to experiment with your pricing. I know it might feel like a little risky or embarrassing to suddenly change your pricing strategy, but guess what, you're an entrepreneur. Or embarrassing to suddenly change your pricing strategy, but guess what, you're an entrepreneur. You're supposed to try stuff, see what works, pivot if needed. So, for example, let's say you launch a mini course at $97 and you notice it's not selling like hotcakes. So you have a few options. You can either lower the price and see if that boosts conversions. You could add more value. So you could add just more stuff like bonus lessons, templates, extra support, but you keep the price the same. Or you can test a different format. So if your self-paced course isn't selling, why don't you try a live workshop instead?

Alyssa:

And I find that every time I talk about pricing I get messages from people saying that they say well, I just can't bring myself to do it. Like I get so scared that if I go too low in my pricing I'll cheapen my brand, but if I go too high I won't sell anything. It's like we're constantly stuck in this middle paralyzed fear. We're just so afraid to mess up. And I want you to know something. This is a big newsflash. You might mess up, you might pick a price point that doesn't work right away, but that's okay, because you'll learn more from that experience than you would ever from never trying. So you'll figure out what your audience, how your audience reacts, what they're willing to pay for, and then how to position your offers that you kind of meet like a sweet spot range that your audience really likes and then, once you pick that sweet spot range, you repurpose it, reuse that sweet spot range. You keep to it. So it takes time to find that sweet spot. So if you don't get the first time, that's okay.

Alyssa:

So I want to break this down into some steps that you can take away right now to figure out the best pricing for your digital product. You can assess your audience, okay. So find out who they are, what their budget comfort zone is. Yes, that does exist, and I want you to not guess like ask them using polls, surveys and like conversations in the DMs. If you're using Instagram and then look at your competitors, ok, like don't copy them, but just to see where you stand in the market and then start small and then expand.

Alyssa:

So if you're brand new or you're building a relationship with a fresh audience, consider a low ticket offer as their foot in the door. So once you've delivered real results, you can present a bigger, more expensive offer. And then I want you to frame the value. So, if you're offering a $37 ebook, make sure your audience knows it can save them hours of frustration or help them earn more money quickly or solving a pressing problem. So explain why that $37 is a steal.

Alyssa:

And then I want you to experiment. I know no one likes to experiment. I love to experiment. I love to see what works and what doesn't work. But don't be afraid of experimenting. Try a three-day flash sale or a limited time price just to see how people respond. Gather that data that is going to be so valuable and then post your results. Tell the story of how it came to be and why you're putting, why you made this price $37 instead of, you know, $500.

Alyssa:

Adjust your strategy as you need to. And look, I have been on both ends of that pricing spectrum. I have gone super high like I'm talking four or five figures high. I've gone low. I've changed my prices mid-launch.

Alyssa:

It's all part of that journey, and so if you've been holding off on launching your product because you're terrified of setting like the wrong price, I want you to consider this the wrong price is the one that you never release, because that means that your knowledge isn't out there helping anyone and you're not making a dime either. So putting something out there, even if you adjust it later, is always better than just sitting around overthinking and doing nothing and that's a wrap. My friends, go, experiment and find that sweet spot where your product's price feels both fair and profitable. Until next time, I'm cheering you on every step of the way, and I'll see you next time on another brilliant idea. Thanks for tuning in into this episode of Brilliant Ideas. If you love the show, be sure to leave a review and follow me on Instagram for even more insider tips and inspiration. Ready to bring your next big, brilliant idea to life? Visit AlyssaVelsercom for resources, guidance and everything you need to start creating something amazing.