Now that you’ve created awesome study material for Finals, learning how to price your products is your next step on the way to cashing in on Final exams.
We’re diving into Part 2 of our Finals seller series: How to Set Prices to Maximize your Sales
What good is your amazing Study Guide if it’s priced so high that no one can afford it? On the other hand, you want to make sure you’re getting what you deserve for all of the time you spent putting together your notes, guides and flashcards. Setting the right price is all about earning the cash you deserve and maximizing your profits as much as possible so you can head in to summer ready for fun!
How can you tell what your study materials are worth?
Our top sellers make anywhere from $200 - $1000 every semester. Here’s what they take into consideration when they price their products:
- The type of content you’re selling
- The thoroughness of the material,
- The amount of time you put into your work.
Let’s break down the pricing strategies that work best:
- Study Guides: Study Guides for Finals tend to be longer and way more in-depth than any other time in the semester. They are packed with everything you’ve learned from the beginning of the semester, and should incorporate both lecture AND textbook reading. This is where you’ll get the biggest return for all of your hard work. We recommend pricing a 15-page Study Guide for Finals between $10-$15. That means you’ll make between $7 and $10.50 each time one of your classmates purchases your study guide. That cash adds up pretty quickly!
- Lecture Summaries – Weekly and Monthly: During Finals, individual daily notes won’t be as important to your classmates as Weekly or Monthly lecture summaries – or “mini Study Guides”. We recommend pricing lecture summaries at $.75 to $1.50 per page. 10 pages of lecture notes should be priced between $7.50 and $11.50.
- Textbook Outlines: In reading-intensive classes, textbook outlines can be a life-saver. Group your outlines by chapter, or combine multiple chapter outlines into one document. Like lecture summaries, we recommend $.75 to $1.50 per page. So 10 pages of textbook outlines should be priced between $7.50 and $11.50.
- Don’t forget Bundles – give your classmates a discount: Everyone loves a deal – and you’re more inclined to buy stuff you like if you can get it cheaper when you buy it all together. Use the Bundle creator on your dashboard to group all of your documents into one bundled price. You can set a lower price for buying ALL of your material together than it would cost to buy them individually. Give it a great title like “Ultimate Study Package for the Final Exam!” and explain the savings that your classmates are getting in the description!
Now practice your new pricing strategies on your study material!
> > Upload your Finals Study Guides, Textbook Outlines, and Lecture summaries.
