3 Steps to Pricing Your TPT Products!

There are many schools of thought on how to price a TPT product.  I've found that newer sellers price either too high or too low. I know when I first started, I priced my products way too high.  I put so much time and thought into them (or so I believed at the time), that I felt I deserved a certain price.  Other sellers devalue their work too much!

I recommend a 3 step system for pricing products.

Step 1:

First download a pricing product guide from TPT like this one for all grades: Free Pricing Guide or this one for secondary sellers: Secondary Sellers Pricing Guide.  Once you find your product/price match, let it go for a few weeks or even a couple of months.

Step 2:

Double check the price you set by searching for like products. Even if your product is unique, there could be others like it in your age range.  Example: you just created a 50 page unit on earthquakes for 5th grade: it includes 5 reading comprehensions and a mini interactive notebook.  There are no other units like this; however, you can search for other informational text units like penguins or Texas in the 50 page range.  I guarantee you'll be able to find some comparisons out there if you think outside the box.  It just takes a little research.

Step 3:

Set it and forget it.  Let it go for a few weeks or months.  Once you start seeing a sale every day or two go to your dashboard and check the conversion rate.

Steps to check conversion rate:
    My TPT
      Dashboard
         See Product Statistics (Under Your Products)
           Under Sales Tab Click Conversion


The conversion rate is simply how many times your product is bought compared to how many times people look at it.  For example, if your conversion rate says "4.5%", that means that 4.5% of the people who looked at your product actually bought it.

Normal conversion rates for an online digital product is 3%

Here's my method for using this data:

If a product gets over 10%, I keep adjusting the rate by adding 25 cents to the price.  Sometimes I add 50 cents if it is over 14%.  I will adjust the price every week until I see a slow down or I've hit the sweet spot.  Sometimes I adjust the price more if it's a unique holiday product flying off the shelves on that day.

If my product has under 3%- more like under 2% or less, I will consider revising that product, lowering the price, or getting rid of it altogether.

Remember that you don't want to price too low and devalue your competition or too high and not get any sales.  You want to find the sweet spot to enrich your pocketbook and the teacher author community!

I hope you found this information helpful.

Take Care!