It does need a bit of understanding to be able to grasp the concept of the premium digital product. This is simply because on the surface, the concept does not really make a lot of business sense. It is however important to take the time to understand it as it could end up making you quite a lot of money. Believe it or not, this simple concept can actually help you to double the profits that you have so far been enjoying with your publishing business.
The truth is that once you get to the level where you have a successful publication that is selling widely; it would be advisable for you to seriously start considering making a premium version of it. You can very easily make a premium version of any publication from webinars to membership websites to courses to newsletters to books just to mention but a few. The one thing that you should never miss out on doing is making the premium version much more expensive.
this point you might be wondering how it will even be possible for you to charge a higher price on your product. Chances are high that as you started out you had problems with having it fly off the shelves. Now you are wondering how the hell increasing the product’s price will make it more sellable. The thing that you should always keep in mind is that the market will always be segmented.
It does not matter what you charge for a product; provided its quality is good, there will always be someone willing to pay the price for it. It does not go to say that the market will immediately run for your product but there will always be those that are willing to purchase it at whatever price simply because they see the value of what you are offering.