The precieved value was extremely helpful. That was my big takeaway. I think I need to do more research on what the precieved value of my product is and then base my price on that instead of only using the x2 formula. Thanks!
Beautifully explained! So nice to hear someone speak about such a topic, as I think we are starting to become trained/influence by the pricing of cheap, mass-produced products and feel guilt if we are not trying to compete on price with them. Handmade, artisnal products are so much more!
Thank you 😭 this means so much. I needed someone else to tell me what I always knew. I’m a hand knitted business. Great things take time, and my time costs. Keep it up X
Hi mam, I am brand new seller to Etsy. I am wondering, what is the ideal resuts could be to rank high as a seller(say with 2-3 listing.) What kind of keyword should I target say with 200 or 500 or 1000+ results ,to appear in search results and get traffic.
What is the perceived value is lower? Using your soy candle example…. Say i’d made the candle and i would get to the 24$ pricetag. i would never pay that for a candle, so maybe i’m cheap😬🤣 but i just dont have the cash then to buy my own damn soy candle. So i have issues asking such prices. How do i fix my own psychology? I know i should ask higher prices but this little voice in my head tells me all these negative things🤣😅
Esther that is an AMAZING question. You 100% don't have to be able to afford your own products. This is a BIG mindset trap that too many fall into. Completely understandable but truly... people buy candles for $50. Like everyday. It's is soooo hard to understand when we wouldn't (especially as you know how to make them haha to you they are so not worth that price) but it's work you've got to do to be able to charge what you need to charge to make a decent living. Check out this other video where I touch on the mindset side of pricing: An oldie but a goodie "overcoming your pricing fears": (you can skip the first 7 minutes of timer, it was recorded live back then) ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-BJ0JnRt3DFc.html "No one will buy at this price point" => ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-C165mMKgBtQ.html
Also this one => ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-TcmERximEJ8.html LOL ok all pricing videos on my channel are relevant here 😂 I love to talk about pricing.
I can relate so much. I'm a thrift store shopper and buy most of my stuff at dollar stores. I'm just cheap but I don't make a ton of money either. I read Deborah's replies and watched her suggested videos. Awesome tips. I need to not think of myself as my customer and stop trying to come at it from my thrifty frugal perspective. There are people who are wealthy out there and wouldn't think twice about dropping money on a $24 candle. There are some who may even think that is a great deal! lol.
