In the Prepear Marketplace, you get to decide how much your cookbooks cost. Setting a price that’s just right for your products can generate interest, drive sales, and attract new customers.
We’ve created this guide based on our digital pricing research to help you consider all the aspects of your brand and product that have an impact on the value of your products. This can help you set a price for your products that matches the amount your customers are willing to pay.
To help you find out, use this short assessment guide. Assign yourself an honest score (1-10) on each of the following three markers of value:
The Quality of Your Recipes
The higher quality your recipes, the more valuable your plan should be. Ask yourself:
- Have my recipes been tested with proven results in taste, appearance, ability to follow, and repeat ability to produce a quality dish?
- Are there positive reviews online to back up my recipes?
- Are my recipes in a category that many people want to make, using ingredients that are easy to find?
- Do I have professional training in developing and creating recipes?
- Do I have a lot of experience creating recipes and cooking?
- Are your photos beautiful, crisp and appetizing?
The Promise Your Cookbook Will Deliver
Customers are willing to pay more for cookbooks that help them achieve specific goals in their life. Ask yourself: What problem will my cookbook solve?
Examples of strong, goal oriented promises that customers associate with higher value:
- Food allergies: Support and relief from strict eating guidelines
- Weight loss: diet plans, macro, keto, whole 30, low-Calorie, etc.
Examples of general lifestyle promises that customers associate with lower value:
- Lifestyle aspirations: less dinnertime stress, tasty family meals, help for picky eaters
- General health benefits: clean eating, more energy, increased overall health
Your Reach and Influence
If you have a highly-engaged audience that trusts you, your customers will be willing to pay more for your cookbooks. Signs that your reach and influence should drive your price higher include:
- You have a large social following
- You have extremely loyal and engaged followers
- You’re an authority on a specific subject
- You have celebrity status
- You employ a team to help you engage with your readers
- You have a high number of website page views and/or email subscribers
Calculate Your Pricing Tier
The final piece of calculating the price you should charge for your product is to take the scores you gave yourself for the 3 areas and add them together. The combined number will help you determine which pricing tier your product should fall into. The lower the number in that tier, the lower the price you should probably set from that tier.
Thanks for using the Prepear Marketplace pricing guide! Before you set your price, remember that your best chance of succeeding in the marketplace is to offer cookbooks at a price that matches the true value of your product as your customers see it.
Finally, this is just a guide: you get to decide your product prices and you can adjust them later if you need to. If you need any guidance during this process, we are here to help!