Entrepreneurs – Want To Price Your Reports?

You are a service company or a consultancy and you want to regularly provide industry or market reports for your customers.  How do you price them?

If you are producing the reports from internal staff knowledge then this is easier as simply take your production costs and add an amount for your profits.  You can calculate your production costs by looking at your staffing charge out rates for the time it takes to write, produce and send out your reports.  Your profits can be quite high.  You should look at pricing of similar reports and try and stay within the market price points.

If your reports are more complex and come from sources that you pay for, then there are two ways to price your reports:

1) Look at the market and see what other similar reports cost.  Then include information that you can afford to put in, at this price.

2) The harder way is to calculate how many reports you think you will sell in a year.  Add up the cost of providing the costs and then divide this by the number of reports.  Now add a percentage for your profit.  The profit should cover your management costs for running your business for a year and giving you a fair income.  You should then compare this cost with the market.  If you are below the norm - then add some more to the report or sell it on its low price.  If you are above the norm the sell it emphasising the quality and quantity of information - or adjust your prices.

It might be an idea to have a cheaper price report to tempt your customers and then have a higher price item as an upgrade or to have several levels of reports.

You could look at several ways to provide the reports:

·         PDF document.

·         On CD or DVD.

·         In a MSPowerpoint presentation.

·         On a memory stick.

·         As printed and bound report.

If the report is digital you might look at setting up an autoresponder to deliver the report.

Good luck.