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Episode 11 of Success and Inner Growth discusses the Value and Price of Information.
The Value of Information
It might sound surprising, but it is still true. The value of one and the same information can vary widely. The span can even go from a negative value (noise) to millions of Dollars for a single sentence.
There are three dimensions in the context of information determining its value:
- Relevance
- Credibility
- Timeliness
One hand information value varies so widely. On the other hand, it is so easy to share information. Both together makes pricing information products very tricky.
Slicing Information into Different Products
Accordingly, it is best practice to divide a set of information up into a series of products. General information of limited value to many can be offered broadly for a low price. More specific parts contained in the same set of information sells then for high price to few people.
Manuscript
I published the manuscript of this episode on the blog Success and Inner Growth You are welcome to comment publicly on this episode on the blog, on Facebook or via Twitter. If you want to send me a private remark, you are welcome to use our support system.
Finally, you can access all past episodes of the podcast here.