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The one time pricing model is as simple as it gets. You simply charge a set price for your product. This works best for traditional products in traditional markets where other pricing models just don’t seem to work.

When using this pricing model, it’s important to get your price point right.

If you’re not using any special pricing model to increase conversions, then you price point must be right on target.

In this case, testing really comes in handy. Since you must zero in on the perfect price for your product, it’s going to be more critical than ever to test and track results.

Benefits of One Time

1. Traditional markets may respond better to this pricing model than to unusual ones they may not understand or they may be wary of.

2. It doesn’t require any special software to set up. Just use any standard billing system.

Drawbacks of One Time

1. Doesn’t offer any potential conversion increases on its own.

Testing & Tracking

Testing and tracking is incredibly important when trying to determine the right price for your market. Never assume that because your product seems to be selling relatively well that you have hit the right price point, because a price change could easily increase your conversions considerably.

This is why it’s so important to test multiple price points, and even pricing models.

The easiest way to test and track is through the use of an A/B split testing program. If you install this type of script on your server, you can send all of your customers through it in order to find out which price point or pricing model works best for your product.

A/B split testing software is beneficial for many other areas, too. You can use the same software to test things such as your website’s design, conversions, sales copy and more.

You can find some useful split testing systems in the resources section at the end of the report.

Gap Analysis

Gap analysis is a method of comparing the way your company or product is currently performing versus its potential performance. It may sound like a bunch of hokey management mumbo-jumbo, but the fact is, gap analysis can have a massive impact on profits.

Gap analysis works by taking a look at the things you are currently doing with your business in order to show you ways you could improve. This could be applied to all sorts of areas, including how well you’re allocating resources, how your marketing is performing, how well employees are functioning and more. And yes, pricing is one of those metrics.

The basic principle of gap analysis that applies to pricing is known as the product gap, which is sometimes referred to as the segment or the positioning gap. This particular gap helps identify whether your product might be excluded from part of your potential market because of some of the characteristics of your product. Price is one of those characteristics.

There is a simple step-by-step process you can use to perform gap analysis on your business. I’m going to give you the process, as well as how to apply each step of the process to your product’s pricing.

1. Identify the current process - In this case, you simply identify your current pricing model and price point.

2. Identify your current status - With regards to pricing, this would be your current conversion rate as well as how much you’re currently marketing in income/profit.

3. Identify your target status or objective - Obviously, with pricing this would be to increase income/profit.

4. Identify the method to find the gap - Before you can identify a specific gap, you need to decide how to figure out what is causing your market gap. Perhaps the best way to do this is to ask people who bought your product what made them decide to buy, and to ask those who didn’t why they chose not to.

Failing that, doing some general market research will be marginally to moderately helpful, depending on your situation.

5. Identify the gap - In this step, you must figure out where the gap is in the market. Are you failing to reach a segment of the market due to using the wrong pricing model or the wrong price point? You must figure out the most likely culprit before you proceed.

Again, this can be done through market research, testing & tracking, interviewing potential customers or other methods.

6. Develop your plan to fill the gap - After you’ve identified the most likely culprit of your gap, it’s time to fill it. This part is relatively simple, but may require further testing and tracking in order to figure out which method of filling the gap will be most effective.

7. Develop the process to fill the gap - Finally, it’s time to develop your plan of action to support your initial plan. You know what needs to be done; now you just need to develop the plan in more detail, outlining each step and setting requirements for timing, testing, etc.

Remember that you much be very objective in your analysis of your product in order for gap analysis to work.

Objectivity means putting your own ego aside and really figuring out where you may be failing.

If you find this difficult, and many people do, then you might need to seek the aid of an outside company to help you conduct this type of research.

Conclusion

Pricing isn’t as simple as just setting a price and waiting for people to buy. There is a lot of psychology involved, and generally a lot of testing, tracking and tweaking is involved.

Don’t forget that you must test both price point and pricing model in order to reach the most effective balance and increase your conversions. You could try multiple price points with each pricing model before arriving at the best conversion rate.

Start by researching the competition’s features and pricing and move on from there. Before long, you’ll find the perfect pricing structure for your product, and you’ll watch your sales skyrocket as a result.

There’s nothing like thinking you’ve done everything you can to make your product sell and then discovering the one thing that will send your sales through the roof! Using the tips found in this report, you’ll be on your way to experiencing that in no time!

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When you send a message out to your email list on behalf of someone who has paid you to do so, it is called a solo ad. If you have an email list, you can charge a fee (generally based on the size and/or responsiveness of your list) to send marketing messages to that list for others. This can be quite profitable, but if your list is responsive it is usually much more profitable to email about your own products or affiliate products for which you will earn a commission.

Your Own Products

If you have your own products that relate to the niche of your magazine,

Affiliate Products

Don’t forget that you can also advertise affiliate products within your magazine. One of the great things about digital magazines is that you can often embed media in them, including marketing videos and links.

If you’re publishing your magazine in a format that doesn’t allow links, you can still promote affiliate links by purchasing a short, memorable domain expressly for each affiliate link and redirecting it to your affiliate link.

Advertising Revenue

As you’ve no doubt noticed, most magazines are full of ads. In fact, many magazines are around 50% advertising and 50% content. These ads are accepted by the general public as part of reading a magazine.

You won’t get a lot of advertising revenue until you have a decent subscriber base, but once you have a decent number of subscribers, you’ll be able to start charging well for ad space in your magazine.

Sponsorship

Sponsorship is a bit different than standard advertising revenue. Rather than simply renting a small ad space, you can rent sponsorship of the entire magazine.

Someone who sponsors your entire magazine would be featured at multiple points throughout the magazine. Such points could be:

On the front cover

On the back cover

In the acknowledgements

A strip at the top or bottom of each page

A featured article (like an advertorial*) about the product or company

*An advertorial is an ad disguised as an informative article. Basically, the ad is framed within the context of actual, valuable information.

You don’t have to use all of these, or you could use others, but these are a few examples.

If you decide to allow sponsorships, be sure that you don’t run ads from any of the company’s direct competitors in the same issue at the same time. A direct competitor is one whose offerings are the same as, or very similar to, the company sponsoring the magazine.

For example, Pepsi and Coca-Cola are direct competitors, because they both sell soft drinks. However, Pepsi and Tropicana Orange Juice would not be direct competitors, because although they are both beverages, they are not significantly similar.

If you have any question regarding whether a company might be a direct competitor, it’s best not to run the potential competitor’s ad until after the sponsorship has ended.

Content Sources

You may assume that you’ll need to write all or most of the content for your digital publication, at least at first when your profits may not support paying writers.

Fortunately, in most markets it should be relatively easy to find people to write for you without upfront payment in exchange for advertising space, a byline or some other non-monetary compensation.

Getting Unpaid Writers

For a writer who is looking to build a resume and a name for himself, getting published in a magazine is a golden opportunity, even if he isn’t paid for his work.

Additionally, for someone who is looking to establish themselves in a particular market, what better way to do so than to become a magazine published author. This would give anyone instant credibility in a market.

Another reason someone might want to write for you is to promote their business or products. If you allow someone a brief mention of their product or service at the end of their article, it could be very valuable to them and allow you to get an article for your magazine without paying anything upfront.

There are many ways to find writers who might be interested in writing for your magazine without being paid:

Write to bloggers within your niche extended an offer

Post on Craigslist seeking writers

Visit various freelance sites and contact writers with experience in your niche

Visit various webmaster forums and post for writers

Getting Paid Content

Paid content is another option. You can always hire writers from freelance sites or other sites, but premade content is another option.

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Because your landing page is so crucial, and because, as they say, you only get one chance to make a first impression, it’s critical to ensure that your landing page converts as well as it possibly can.

It’s practically impossible to gauge every element of your landing page against the tastes and desires of your target audience. In fact, there have been times when ugly designs have vastly outperformed beautiful designs, and when copy that cost thousands of dollars from one of the world’s most well-known copywriters failed compared to a quick sales letter written by a product owner.

Sure, these instances could be considered “flukes”, but the fact is, they happen more often than you might expect. This is why it’s important to use split testing in order to optimize your landing page for optimum conversions.

What is Split Testing?

Split testing is basically the process of testing multiple versions of a page, sales copy, or other marketing element in order to increase conversions. You can accomplish this with special software, or you can do it on your own by using multiple pages with your own unique methods of tracking results.

If you use a system like LeadPages or Unbounce, you’ll have split-testing abilities built right in. This is one of the things that makes these systems so powerful, because you can test the different iterations of your landing pages without using any additional software or incurring any additional expenses for testing software.

There are a few things you can do to drastically improve your landing page effectiveness, boosting conversions with very little extra work. Let’s take a look at those things now.

Incentives

Incentives are one of the most important tricks in the landing page book, but many people neglect to use them anyway. Used correctly, incentives can boost conversions significantly, so there’s no reason not to use them.

The average person isn’t going to hand over their personal information such as their email address or phone number without some sort of incentive to do so. Not only that, but incentives work even when your landing page is geared toward selling a product, because you can offer a discount, rebate or bonus to encourage sales.

Here are some ideas for incentives that you can choose from depending on the type of landing page you’re using:

Free report

Free video

Free access to a membership site

Discount off your product

Rebate on an affiliate product (if they allow rebates)

Bonus on your own or an affiliate product

Top Secret” information of some kind

Social Marketing Integration

Another element that can drastically increase the effectiveness of a landing page is the integration of social media. It’s quick and easy to add buttons to a landing page that will allow visitors to share the page with a single click, and this will help you get more visitors without much effort.

There are tons of social media sites that you could integrate, but here are some of the ones you probably don’t want to forget:

Facebook

Twitter

Google+

Pinterest

Engagement Devices

Engagement devices are useful for getting people to pay more attention to your message and stay on the page longer, thus reducing bounce rate. (Bounce rate is the number of people who leave the site after the initial landing page without viewing anything else. On a landing page, having a high bounce rate means your landing page isn’t working, because people are hitting the back button rather than taking action.)

There are many ways to increase engagement. Here are a few ideas:

Video

Interactive presentations, like those made with Prezi.com

Quizzes related to your landing page niche

Simple embedded games related to your niche

Just don’t insert engagement devices solely for the purpose of keeping attention, because if the device doesn’t help further your marketing message and encourage people to take action, it will only distract users from your message.

Conclusion

Creating effective landing pages doesn’t have to be a long, complex process involving hours worth of coding and top-notch graphics design experience. Anyone can create landing pages that are both stunning and highly effective with no technical experience using the methods outlined in this report.

Always keep in mind the purpose of your landing page as you’re creating it, and tailor each element to that purpose. For example, if you’re trying to gain opt-ins for your email list, focus on drawing attention to the opt-in form and on the benefits people will get when they subscribe. Don’t distract them with extra things that will take away from that primary goal.

IMPORTANT: Landing pages should be clean, free of extra links and other distractions, and focus solely on your one main goal!

If you keep these things in mind and use the tips you’ve learned in this report, you’ll be creating stunning, effective landing pages in no time, even if you have no design or technical experience!