What is the Best Pricing Model For Beginners?

[Nomad]

One common questions that beginners are confused about is how to price their products. When pricing products, I personally keep my profit margin between 10–15 percent. I prefer making smaller profits from higher sales volume rather than overpricing. Even a few dollars profit from a single sale can mean a lot when you sell many units. I think this is the best pricing strategy for beginners.

 

[Fire&Rain]

Keeping the profit margin small but focusing on selling more units is a chill way to start out. It makes your stuff more affordable, gets customers in the door, and those little profits stack up quicker than you’d think. Way better than scaring people off with high prices when you’re just starting out.

 

[Nomad]

Pricing also depends on your target audience, if you have price sensitive audience, price should be kept low, but if you have niche audience, high prices are ok.

 

[Kera]

I think that value based pricing models is the best for a beginner to online business. But you perfectly need to understand pain to use it properly.