How do I price a digital product?
Updated
Price the outcome, not the effort
Price a digital product on the result it gives the buyer, not on the hours it took you to make. Find three comparable products, start in the middle of their range rather than below it, and raise the price each time you improve the product. Business buyers pay more than consumers for the same file.
Buyers do not know how long you worked. They know what changes for them, and that is what they are paying for.
Cheap is the risky option
Very low prices attract the buyers who refund most, complain most and value the product least.
They also signal that the product is thin. Raising a price often increases sales rather than reducing them.
A simple starting method
Look at three comparable products and find the middle of their prices. Start there, not below.
Then adjust for who you are selling to. A template that saves a business owner a day of work is worth a share of a day of their time, which is usually far more than sellers charge.
Raise it as the product improves
Each time you add something buyers asked for, put the price up. Tell existing buyers first and give them the update free.
That loop — improve, raise, tell — is how a small product becomes a real one.