For any new business, pricing work can be a total guessing game. On the one hand, you want to undercut the competition, beucase you know everyone wants a bargain and you want to get your product out there. On the other hand, you want to eat. How to solve this quandary?

The pricing problem becomes further compounded with creative businesses, because the product you’re selling isn’t something people can easily place value on. Artwork doesn’t immediately solve a pressing problem, or offer some kind of stable market for which you can compare models and prices. The price a person pays for artwork is whatever they feel it is worth. If they don’t feel it’s worth the price asked, they won’t pay for it.

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When it comes to online conversion rates, email still dominates. Email is the vampire of the online marketing world – old-school, eerily seductive, and packs one hell of a bite.

The recent numbers from the DMA show email’s conversion rate is still the highest, bringing in $40.56 for every dollar spent on it this year. Although this is down on previous years, it’s still miles ahead of the next highest converter – search-based marketing, at $22.24 per dollar spent.

Email marketing is a powerful thing. When customers give you their email addresses, they’re giving you permission to send your message into their home. Emailing a customer is a bit like walking into their home and glueing your business card onto their cat’s forehead.

NB: I don’t advocate glueing business cards to felines as a viable marketing tactic.

But you can’t just go emailing people willy nilly – you have to get their permission first, much like a vampire can’t enter a home without permission. Vampires are gentlemen – they only go where they’re wanted. Your business is like a vampire …

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It’s a lazy, sunny Sunday here in New Zealand. My husband and I have just purchased a 4 acre lifestyle block – eeee! – and it is sucking away every moment of free time we have right now. It’s wonderful to be spending so much time outside, doing physical labour, feeling the satisfaction of dirt under your nails and a sun on your arms. I haven’t had such restful sleep in years! We have a lot of work ahead of us before we can even begin to build our dream home, but we’re excited about building our future in this place.

Since it’s a lazy Sunday, and you might be spending the day thinking about your business and catching up on your Internet reading, I thought I’d link you up to some of my most recent articles for writers and small businesses around the web:

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Do you read magazines? Most of us do. We read magazines to learn more about our hobbies and interests, for entertainment, and to keep up-to-date with news and events in our industry. Even with blogs, podcasts and online media becoming increasingly influential, magazines still play a vital role in the publishing industry.

Print magazines are at the top of the heap when it comes to quality. Every print magazine is backed by an editorial team that ensure the quality is maintained across every article and layout. Most industries have at least one magazine that is considered highly influential – businesses featured within it’s pages have definitely “made it”.

So if you’re reading these magazines in your industry, why aren’t you writing for them?

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The handmade movement is booming all over the world, and is becoming a real force in the market. Aimed at countering mass-produced consumerism, “buy handmade” has become a mantra of many disenchanted consumers, and owners of small handmade businesses are benefitting. People want less stuff, and they want to feel connected to the stuff they DO buy – they want to know things are ethically produced, they want to feel as though they KNOW the person who created an object. They’re tired of mass-produced crap.

But handmade businesses just can’t compete with the prices of goods from China, and the economies of scale for larger companies mean most small business owners are struggling with increasingly small profit margins.

As an example: two brightly colored wool hats sell in a clothing store for $30. One hat was made in China, shipped to the country and sold to the retailer by a large hat-buying chain for $15. The retailer makes $15 and that hat-buying chain makes $8. The costs of shipping, storage, freight and packaging add up to $7.5 and the Chinese hat maker earns about .50c.

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