7 Pricing Strategies I Used To Make $1M

  Рет қаралды 36,501

Alek

Alek

Күн бұрын

All Links ◆ aleksheffield.com
Here's everything you need to know about pricing your products to get maximum sales.
⌲ My Camera: amzn.to/40i2Ljz
⌲ My Lens: amzn.to/3HKceIb
If you have any questions or comments, leave them down below!
0:00 - Intro
0:23 - Tactic 1
1:03 - Tactic 2
3:33 - Tactic 3
5:32 - Tactic 4
6:22 - Tactic 5
7:02 - Tactic 6
8:20 - Tactic 7

Пікірлер: 59
@itaribeiro1
@itaribeiro1 4 ай бұрын
I just found your videos today and can’t stop watching them. Thank you so much!
@mebeeer
@mebeeer Жыл бұрын
"But it works" : Alek Sheffy
@jswanson859
@jswanson859 Жыл бұрын
I've just recently found your content and I'm really finding it helpful. I've got several ideas now to start utilizing everything that you are sharing. Thank you.
@thesupportcrew1
@thesupportcrew1 Жыл бұрын
Another awesome video Alek. Thank you!
@trolyat
@trolyat Жыл бұрын
Great information, as always, Alek, Thank you.
@lyannemariah2943
@lyannemariah2943 Жыл бұрын
I think household expenses or some sort of salary should also be involved in the calculations if you plan to quit a current job and try to do this fulltime.
@gurutruecrimeguru1405
@gurutruecrimeguru1405 Жыл бұрын
Ignore the haters or keep making hilarious jokes like the one about the click bait. 🤣 You're awesome Alek I love this video. Being confused about pricing is what made me give up on Etsy so I needed this.
@user-ew5uy9uj5j
@user-ew5uy9uj5j Жыл бұрын
Thank you. Very informative.
@calebhoward4595
@calebhoward4595 Жыл бұрын
Keep going 🔥
@sciencesnark833
@sciencesnark833 Жыл бұрын
FYI: Raising your prices and then running a sale is illegal in the US. Just start out with a higher base price from the beginning.
@katlis
@katlis Жыл бұрын
The FTC might frown upon this, but it seems that law is never enforced. For example, almost every huge store in the US does this before Black Friday.
@sciencesnark833
@sciencesnark833 Жыл бұрын
@@katlis Both Macy's and JC Penny's were sued over this. Why risk it when there's the really simple fix of starting out with higher prices from the get go? Also, no KZfaqr should be telling you to do something illegal. Alek may not have known, but if he did, it's a red flag.
@kristinrush
@kristinrush Жыл бұрын
He advised to double your price, then run the sale, but that's part of the overall pricing strategy. Not a temporary thing. If you're running constant 24 hour-long sales, you never decrease the price from the doubled amount. In essence, the "doubled amount" is actually your constant base price.
@financialchimes4546
@financialchimes4546 Жыл бұрын
@@kristinrush ^ It's illegal for companies to deceive consumers into thinking a discount exists where it actually doesn't. Running a sale full time is illegal. The item must have been sold for the regular price, otherwise it's illegal as well. There are also rules regarding the number of weeks a regular price must occur for a percentage sale against it to be advertised.
@EquineLove
@EquineLove 2 ай бұрын
I'd like to hear more about that I was under the impression it's up to the seller what an item costs. If they want to run a sale who is gonna tell them that item isn't gonna cost more at some point
@ZandeBalane
@ZandeBalane Жыл бұрын
Thank you sir..
@showtroylove
@showtroylove Жыл бұрын
Alek - nice video as always. I think you mistook the price comparison between Printify and Printful, but you used Printify twice, which showing what appeared to be Printiful's website dashboard.
@melaninmajestyshop
@melaninmajestyshop Жыл бұрын
@Alek, do you have a video that you can direct me to, on creating a mug that has a wraparound design (ex: dog on one side, writing on another side)...i watched your video with the cactus , but it did not show how to make it wrap around in printify or canvas...thanks
@williamhammerstrom9860
@williamhammerstrom9860 3 ай бұрын
You ARE dangerous! Thanks for these amazing tips. I watch your most motivating ones to avoid the despair.... sometimes it helps.🙂
@DerPatschen
@DerPatschen Жыл бұрын
Hey Alek, if you sell your shirts for about 17$, you have to charge about 5$ per shipping minimum to get some profit, am I correct? My own cost on Printify would be around 14$ per Shirt (shipping and shirt cost). With all fees from Etsy you make around 5$ profit, correct? Also: Did you often make the experience, that people buy three shirts, to get the 35$ free shipping?
@HitsuKee
@HitsuKee Жыл бұрын
i don't have any experience in selling yet, but even though clicking on a product due to low pricing seems attractive, if the customer sees the shipping price afterwards, it might be a psychologic letdown, IMO clicking on a product with a great design and exposure on the listing page is the key, even if the price is higher than other products, when i personnaly see that, i'm thinking that the product might be in a better quality, and then i see free shipping, it always feels better. These days everybody buys on amazon which is usually free shipping, the human brain developped an habbit on that, and might be disapointed to see shipping price, but hey maybe that's just me, maybe your tactic is better overall.
@gurutruecrimeguru1405
@gurutruecrimeguru1405 Жыл бұрын
As a buyer I would say this only happens if the shipping price is unreasonable. People on ebay type sites who list something at $1.50 with $18.99 shipping costs are annoying.
@khazana24
@khazana24 11 ай бұрын
Totally agree with you.
@fethiaissi4158
@fethiaissi4158 Жыл бұрын
Can I post different products on one etsy store ?
@markbutterworth5713
@markbutterworth5713 Жыл бұрын
Alek - Where do the Etsy listing fees coming into play here? While not a big expense per listing, this can get quite high depending on the volume of listings required to meet your target. What frequency and volume do you suggest posting at? Say you're working with the $10,000 monthly target, and mugs in mind.
@LennyYT
@LennyYT Жыл бұрын
Great video. Do you keep your store on forever sale? Any tips using targeted offers?
@MNSweet
@MNSweet Жыл бұрын
Check local and federal laws. There are commerce requirements that a product can not be on a discount or sale price structure indefinitely. Some jurisdictions have different durations, so 100% you need to read and put your prices back to full periodically, like on the 4 seasons, before lowering them again for a new themed sale.
@osipejuboluchris6479
@osipejuboluchris6479 11 ай бұрын
Can we do a lot of product like ranging from mugs, T-shirts etc
@Autumn77077
@Autumn77077 Жыл бұрын
I'm new to your channel but I love it!! I have been binge watching, I have a dumb question is TheCocoBear your shop? I checked out the shop and the products are amazing, but they don't offer much detail in the descriptions - like care instruction, shipping times, etc., do you think it's better to leave our descriptions very brief and not offer any info?? Thanks for all your tips, you are an amazing teacher!
@gurutruecrimeguru1405
@gurutruecrimeguru1405 Жыл бұрын
Most KZfaqrs do not want to share their stores because people scrape and steal their stores and also will get jealous and do bad things.
@loganselk9183
@loganselk9183 Жыл бұрын
Hey, Alek, do you offer or do Etsy store evaluations? I have 260 listings of Ai art,
@eyibiojeremy7232
@eyibiojeremy7232 Жыл бұрын
Hey Alek, I know this is off the context of this video, but please hear me out🙏. About 4 months ago, you made a video showing us how to use the Figma tool to make tons of designs in less than an hour. (Really great video btw. Explained a whole lot) But you didn't exactly show us how to export those designs. I tried using the export tool but it exported the whole page and not each design singularly The point is I've made a bunch of designs now and PLEASE, I NEED YOUR HELP exporting them! (I commented there but I felt the chances of you replying to such an old video are low, so I decided to comment on your most recent video😅)
@NeuroNinjaAlexander
@NeuroNinjaAlexander Жыл бұрын
Booster comment plus I'm curious as well
@kristinrush
@kristinrush Жыл бұрын
Make sure you only have your designs selected when you click export.
@cindychristian1700
@cindychristian1700 Жыл бұрын
How do you do this with your own designs! What apps or programs? I've asked others but didn't get much of a response! I'll be writing books soon and I want to design my own book covers and some of the illustrations on the pages and I have no idea how I can do that! Any information you give will be very appreciated! Respond whenever at your convenience. Thank you!😊
@bitcloutrhynelf2297
@bitcloutrhynelf2297 Жыл бұрын
Moral superior creatures.. Hahaha LOL! That’s hilarious 🤣 Keep speaking truth 🔥
@yousuf1sg
@yousuf1sg Жыл бұрын
Please also make videos on Cashflow & Payment Process. What challenges are you facing via payment process and cashflow. Thanks
@yousuf1sg
@yousuf1sg Жыл бұрын
Could you reply me @yousuf1sg ? Because I could not find you.
@MdbCoin
@MdbCoin Жыл бұрын
Do you recommend or not recommend eBay, or are you neutral on it?
@darkpheonixhd1260
@darkpheonixhd1260 11 ай бұрын
I have a question, what I don’t want to utilize esty or shopify to sell. my products? for example what if i would rather use merch by Amazon? How can. I calculate what my profit and spending be if the tool alure does not calculate that for me. what can i do to get a better pricing range as a beginner?
@Draco.Invictus
@Draco.Invictus 5 ай бұрын
Merch on Demand is not like Etsy or Spotify. With those, you are selling your product and are in charge of fulfilling orders with POD (for example). With Merch on Demand, Amazon is in charge of fulfillment and customer service, and you receive a royalty. Very different.
@Mistahollywood0
@Mistahollywood0 Жыл бұрын
Hey Alek! How does Leonardo AI compare to Mid journey in your opinion?
@davidnicolosi6143
@davidnicolosi6143 Жыл бұрын
Haven't used Mid Journey, but I'm really like Leonardo. They constantly roll out new features and it does a good job for my needs.
@EquineLove
@EquineLove 2 ай бұрын
Dont sue me but "morally superior creature" is now going on a shirt lol
@junkyard_boxer8995
@junkyard_boxer8995 10 ай бұрын
Before you design products on printify or any other print on demand provider, ask yourself if you would spend the money to purchase the item so you don't waste your time designing and publishing, because 70% of the items are ridiculously expensive, like tumblers for $30 + $15 shipping + $ 5 for you + tax + etsy fees the item ends up costing the customer $60 which nobody would ever buy, $30 is already expensive
@fethiaissi4158
@fethiaissi4158 Жыл бұрын
How many listing I should post a day ?
@gurutruecrimeguru1405
@gurutruecrimeguru1405 Жыл бұрын
If you do too many the bots will ban you thinking you are another bot.
@kennetwikart9016
@kennetwikart9016 4 ай бұрын
Great content, Alek! - But does this x.99 thing really work still? It cracks me up up every time I see this! When buying an item once for several hundred the salesperson corrected me when I rounded the price up conveniently for calculating my costs. He just HAD TO say that I would get a 0.01 price cut. Yeah, now I could afford to buy one hundredth of the foam on a capuccino, happy days! - It just gives me a dishonest impression. In fact when people try to manipulate me I try to find other shops to buy from.
@ekinshoes9063
@ekinshoes9063 Жыл бұрын
Alek we are desperately waiting for your etsy challenge episode 14
@DerPatschen
@DerPatschen Жыл бұрын
Also: how do you make actually profit, when you sell three shirts? 3 x 17$ would cost the customer 51$ and he gets free shipping. With that income, you have to cover 3 x 9,35 $ for the shirts and 4,75$ + 2,40$ + 2,40$ for the shipping and the additonal items. When you add 5$ of Etsy fees, you would get around 8$ of profit - not really much in contrast to one shirt, where he still has to pay for shipping (like 6$ profit with Monster Digital). Ot is there something wrong in my calculation? :/
@user-ew5uy9uj5j
@user-ew5uy9uj5j Жыл бұрын
Why would it be $9.35 x 3 for the shirts? It's free shipping not free shirts.
@hhhhhhhh4107
@hhhhhhhh4107 Ай бұрын
😂😂😂😂​@@user-ew5uy9uj5j
@SilverFOXO
@SilverFOXO Жыл бұрын
Morally broken person here Thanks for the tactics bro ❤
@ashleythompson7879
@ashleythompson7879 Жыл бұрын
Let them think it is evil, it is there choice to buy. Muahahahahaha. Yes, it does work on the consumer psychologically. I can admit this from first experience. XD
@Sharkdog11b
@Sharkdog11b 11 ай бұрын
There’s nothing wrong with what you’re doing people are responsible for their own choices and how well they read it’s literally right in front of their faces if they think 6999 is closer to 6 than it is to 7 then that’s the price they pay for being dumb and not thinking for three seconds it’s not like you’re hiding anything at all
@TheFuzzypuddle
@TheFuzzypuddle Жыл бұрын
"morally superior creatures" lol.. nice term.
@kristinrush
@kristinrush Жыл бұрын
The people mad about psychology-based pricing strategies haven't figured out that literally EVERY business does everything they possibly can to make their product stand out and appear more enticing to the buyer.
@Alvee3
@Alvee3 Жыл бұрын
How to contact you
@edwardhayman9145
@edwardhayman9145 Жыл бұрын
Hey Alex, what is your discord server name? Keen to pop in!!
The TRUTH About Print on Demand in 2023
13:01
Alek
Рет қаралды 281 М.
Things Are Changing - a Life Update
24:11
Alek
Рет қаралды 49 М.
Was ist im Eis versteckt? 🧊 Coole Winter-Gadgets von Amazon
00:37
SMOL German
Рет қаралды 36 МЛН
7 Things that EVERY $1M+ Etsy Shop Knows
14:29
Alek
Рет қаралды 51 М.
From $50 to $4.2M/Year Sneaker Reselling Business
28:10
UpFlip
Рет қаралды 712 М.
7 WORST Beginner Print on Demand Mistakes to Avoid
14:13
If I Started an Etsy Shop Today, I’d Do This
16:32
Alek
Рет қаралды 20 М.
Reviewing My Subscribers Etsy Shops 🤦‍♂️
18:51
The Ultimate AI Side Hustle For 2023 (Easy $27,210/Month)
10:42
Best Online Businesses for BEGINNERS in 2024
18:29
Alek
Рет қаралды 47 М.
How Much Can You ACTUALLY Make with P.O.D?
11:28
Alek
Рет қаралды 14 М.
Was ist im Eis versteckt? 🧊 Coole Winter-Gadgets von Amazon
00:37
SMOL German
Рет қаралды 36 МЛН