6 Ways to Test Your Pricing Assumptions

Hey Solopreneurs,

Happy Sunday!

It’s the one day for the most of us to get recharge and spend some time on self-reflecting and spend with our loved ones.

While we don’t necessarily need to hustle, we can still learn make an effort to learn new things.

Today, in my first edition of the newsletter (I know you guys have been wondering when your first newsletter will arrive or whether you made a mistake giving your email. But don’t worry, the suspense ends today.

So let’s get to the point, shall we?)

For many solopreneurs creating digital product is hard that we often don’t give much thought pricing our digital product.

But pricing your digital product isn’t a cakewalk.

You can’t rely on outdated information to price your digital product as the market is shifting at a faster rate than we could fathom.

We know, pricing digital product can feel like walking a tightrope.

Get it wrong, and you might scare customers away.

Get it right, and you open the floodgates to more sales, happier customers, and a sustainable business.

But the question is, how do you avoid pricing mistakes?

How do you know for sure your product is priced just right?

In this post, I’ll walk you through 6 proven ways to test your pricing assumptions—so you don’t leave money on the table (or worse, drive customers away).

Why Pricing Your Digital Product Is Harder Than It Seems

Pricing isn’t just about pulling a number out of thin air.

For solopreneurs, it’s a game of balancing perceived value, market demand, and competitive pricing.

But how do you make sure your product isn’t undervalued or overpriced?

Imagine putting countless hours into creating a digital product—maybe it’s an online course, templates or a killer e-book—only to find out your customers are either balking at the price or not buying at all.

It's frustrating.

Worse, it means you’re either leaving money on the table or worse, scaring away your ideal customers.

The real question is:

How do you test if your pricing is aligned with what your customers are willing to pay without jumping in blindly?

The Problem with Pricing Assumptions

Now, you’re probably thinking: "Can’t I just guess what people will pay?"

Here’s the thing about pricing assumptions:

they can often lead to costly mistakes.

Many solopreneurs assume that their pricing is fine based on gut feelings, past experiences, or even what they think their product is worth.

But without real testing, these assumptions are just that—assumptions.

Let’s talk about why this matters:

You can’t afford to assume.

Pricing wrong can mean fewer customers, lower cash-flow, and missed opportunities to scale your business ultimately hindering your way to achieve financial freedom that we solopreneurs set out to create in the first place.

So now that you know the reasons, let’s dive in to see how to price your digital products -

6 Ways to Test Your Pricing Assumptions

This isn’t about throwing darts in the dark; it’s about taking informed steps to find a price that works for both you and your customers.

1/ Survey Your Audience

Start by asking your target market directly.

If you have an email list, social media followers, or a community you engage with, tap into those relationships.

Ask them what they’d be willing to pay for your product—be honest and upfront about your pricing range.

This will give you the idea on how your followers perceive your brand and how much they are willing to invest in your digital products.

2/ Analyze Your Competitors

This goes without saying but study successful pricing models in your niche.

What are similar products selling for?

But don’t just look at the price; look at what’s included.

Are competitors offering bonuses, exclusive content, or special perks that make their price seem more valuable?

Identify the one core part of their product that appeals to your target audience to buy from them.

3/ Create an MVP and Gather Feedback

You don’t need to launch the full version of your product to test your pricing.

Create a Minimum Viable Product (MVP)—a scaled-back version—and offer it to a small group of people who fit your target customer.

Get feedback on both the product and the price, and adjust accordingly.

This is what I have personally come across from creators on X, who, a few months back, offered their MVP to test and now built a 5-6 figure business from their digital products alone.

4/ Run a Pricing Experiment

Consider running a pricing test where you offer different pricing tiers to different groups.

This could be done through A/B testing, offering discounts to early adopters, or even testing two price points on different landing pages to see which one performs better.

I promise you, it provides a 10x return in the long-run.

5/ Consult With Experts and Fellow Creators

While we all are competing in the some ways in the online space, it’ is important to remember we can all have a slice of pie and still have enough.

That’s why your fellow solopreneurs are also your ally.

Reach out to them or industry experts and ask them for feedback.

What pricing strategies are they using?

Are there any tools or pricing models they recommend?

Feedback from people who’ve walked the path before you can save you a lot of time and money.

6/ Study Customer Behavior and Willingness to Pay

Finally, examine how your customers behave when it comes to pricing.

Are they hesitant when you mention your price?

Do they drop off during the checkout process?

Understanding these signals will give you a better idea of whether your price is too high, too low, or just right.

Pricing Can Make or Break Your Digital Product

Pricing your digital product isn’t a guessing game—it’s a calculated strategy.

By following these 6 steps, you can test your pricing assumptions and ensure you’re not leaving money on the table or pushing away potential buyers.

Key Takeaways:

• Use surveys to understand your audience’s price sensitivity.

• Analyze competitors to gauge what pricing models work in your niche.

• Test an MVP to gather real-world feedback.

• Experiment with pricing tiers and discounts to measure customer response.

• Collaborate with experts to get honest, actionable advice.

• Observe customer behavior to make sure your price aligns with their expectations.

Take the time to test your assumptions now, so you don’t regret it later.

Happy pricing!

P.S. If you find this newsletter helpful, let me know what particular point stood out for you?

I’d love to know your thoughts.