So you now have created your product. What's next? You now have to determine the right price for your product. But first consider these two strategies on pricing your product.

1. Skimming : low number of customers, high profit margin
2. Mass : high number of customers, low profit margin

You might be wondering which works best, but actually that all depends on your product. Who will need your product, and depends on the relationship between you and your customer and the amount of work you want to put into selling your product.

For better understanding of the aforementioned strategies and to choose which one will work best on you, here's the breakdown.

With the skimming strategy, customers are more likely to have a high satisfaction rate, because of a more personal relationship with you, or a more customized product. And with the mass strategy, the customer will expect more service, and more product for their money, which means more work for you. So the right answer is…whichever one works best for you and your company. The most important thing to remember is, no matter what you choose, you’re only worth the price you ask for!

Social media can be the best tool for driving traffic to your site. But there's one more reason why you need social media. That is getting information and knowledge from your networks. Tapping knowledge from social media is like getting information at real time. The way it is structured, it opens the way for conversation and exchanging ideas.

Try posting a question in your Twitter or Facebook account, for sure your friends who have knowledge about it would respond to it. You can research for answers through Google or any other search engines, though, but there are times you need some specific answers. So gathering all the answers from your networks can lead you to a better decision.

One of the most powerful things about social media is the concept of making collaboration and information easier to share. It won't take you too long to have the answers, social media can be the best resource for information at your fingertips. Whatever the question, try it out on your social network and see what happens.

There were times that people get too busy and bored of reading sales letters. Some already mastered the outline of a newsletter, some may have seen the words you used a hundred times before. So these words are not that effective anymore from the time most internet marketers use that in their sales letters.

But there were still who became successful in their business using sales letters, writing on the right track and some of the best sales are those that tell a story. Yeah, telling stories can get the attention of people. Just remember the times back you were in college. Listening to stories are more entertaining than lectures. When listening to a story you are curious to know what happened and what is the outcome, whereas in lectures, it is not that exciting that you would want to fall asleep, no matter how you battle the situation.

So when you write a sales letter, don't use the same words over and over again. It will just bore your readers. Instead use this strategy to get their attention, tell a story. It will excite them and would want to know more about your product. Telling stories is like injecting energy into your sales presentation. Selling online is very different from selling face to face. It's more difficult convincing people to buy your product and it's harder to get their trust. Telling stories somehow will gain their trust.

Consider this also, people may not need your product not interested during the time they received your letter. But you have to make sure that they would remember your letter when the times comes that they would need your offerings. Using interesting stories would make people easily recall your letter when the time comes.

So in your next sales letter, think up a great story to share. It can be about you or someone you know. It could even be one you just came across online. Whatever it is, make it relatable, and you will get a great response.

One very good tool for communicating very well with your customers is using sketchcast in your business. Sketchcast can provide you a platform where you can basically sketch and record your explanation along with your drawings or sketches.

Your sketches can actually be embedded into your blog or homepage and people can playback your sketchcast. It’s totally interactive so you’re able to draw up content and pictures for your blog.

So now you can offer online tutorial to your customers and have a visual description of your products. You can easily communicate to them and improve your business.

There are only few business owners who realized that what customers want in their product is that because they have taken away their pains. In general we people want what's the easiest. So why would you give yourself a hard time when you can earn it in an easy way? Out of this, you can make more money by taking away your customer's pain.

Like preparing a vegetable salad, you don't have to go and purchase all the ingredients separately, because there are ready-made vegetable salads available in supermarkets. Another example, canned goods, there are brands that offer easy-to-open cans, you don't need a can opener anymore. These ideas are all formed because you don't want to give hassle to your customers. All you want is easy access for them.

So think about your products. Find out what causes your customers' grief. If you can find a way to solve these problems, they will be willing to pay you more money. Take away your customer's pain and earn more money.

Packaging plays an important role when marketing your product. If you are selling an information product in the form of books, CD’s, or DVD’s, your customers are buying the information. But your packaging can actually help your customer justify their purchase. If you add more valuable information or things along with your product they will feel they get even more for their money.

The point is your packaging is the forefront of your products. And most of the time if people receive more than what they expect, for sure they will get your product as often as they want.

If you think you can impress your customers by offering a large packaging but the content is only half filled, you will just disappoint your them. What they see in the packaging is what they expect to get from you. So don't ever give your customers with an empty space, instead fill it with a valuable content. Giving your customers a 3" binder with two pieces of paper inside will only disappoint.

So try to provide more valuable things to your customers and increase profits with packaging.

What to use, short tail or long tail keywords? If you want to increase the conversion rate of your visitors, then use long tail keywords. People who use long tail keywords know exactly what they want. For example, when they really want to purchase a laptop they will type, "Dell Inspiron 1520 midnight blue". If they knew what they want they are close to buying it. If they are just looking for information about what's the best laptop for them, for example they would type, "laptop reviews", which this kind of keyword is so common.

According to many studies, people searches using short tail keywords want only information or something related to that. Only few individuals have had success using highly competitive keywords. Because everyone is using it, it's hard to compete. Unlike when you use long tail keywords, it's targeted, though it can bring only small traffic to your site, but the conversion rate is higher. People searches using long tail keywords are close to buying something because they knew exactly what they want.

Long tail keywords can make you rank first page on Google because you only have few competitors. So the more you use long tail keywords the more success you will have. So if you have specific products to offer, optimize your page using long tail keywords.

A lot of businessmen strive to give what's best for their customers. As competition becomes tougher, you want only what's best to keep your customer's loyalty. So as everyone is working hard to become competitive, you should be concentrating on building a value-based business.

We've talked about establishing the value ladder for the product, now you should be sending your customers to that value ladder. In order to entice customers up the value ladder, a marketer should recognize and promote the ever increasing value gained for each step that the customer ascends. For example, if the marketer’s product is information, the value ladder may ascend from books to CDs to DVDs to seminars to one-on-one coaching. As a customer moves up the ladder from watching DVDs to attending a seminar, he will gain more information, see more success, and make more money. As he sees more and more benefits, the customer will want to go to the next level of the ladder in order to achieve even more success.

In fact, the customers should have the same exact goal as the marketer. They should have a goal to ascend through the value ladder as they receive advantages from each level. In order to help them see this goal, the marketer should show and teach the customers that there are higher levels of value. There are more benefits out there for them.

Unfortunately, many marketers are scared of their customers. They are afraid that the customers will get mad if they try to sell them one more thing. But if a marketer believes in his products and the value they provide, then he has an obligation to get those products into the hands of his customers.

The marketer’s focus should be on building value for the customer, not just making money for himself. A business owner will not be afraid or ashamed to market a product that he believes will benefit his customer. If he has his customers’ best interests at heart, he will want to push them through the value ladder.

If customers understand their success is the marketer’s motivation, they will have the same goal as well. They will want to move through each level of the value ladder because at each level they will receive even more advantages than they did at the previous level. When the marketer’s goal and the customer’s goal mesh, then a value based business has been created and everyone benefits.