During my presentation at my recent Underground Online
Marketing Seminar (www.UndergroundOnlineSeminar.com) -
I talked about my own "Underground" secrets. One of the
things I covered was how to sell super high-end products.
Personally, I've sold everything from $17 ebooks to
$14,500.00 "Apprentice Programs" and lots in-between. My
most recent high-end product is a $7,995/month program for
cosmetic surgeons.
I really love high priced products and you'll see why in a
moment...
First off, if you want to make $1M this year - then you'd
have to sell 20000 copies of my 'doohickey' at $50. Or it
could be 2000 copies at $500. Or better still 200 copies at
$5000.
It's a lot easier dealing with 200 customers than 20,000.
Think of all the customer service and infrastructure, etc.
Plus, as a general rule - the buyers of a high-priced
product or service are better buyers are easier to deal
with than someone who bought a $9.95 ebook and drives you
crazy.
The other thing is these customers pay more attention and
revere the information or product/service more. I've
attended $500 seminars and I've attended $10,000.00
seminars. Which one do you think I was paying more
attention to? So having higher priced products is actually
better for your customers because they are more committed.
Think about the last time you gave free advice to someone -
what happen? That's right. Nothing. But if you had made
them pay you for consulting - they would have taken it to
heart.
But there's still more on the economics side...
With a higher priced product that means you have more money
to advertise. If I'm going against someone selling a $19
ebook and I'm selling a $199 home study course in the same
market - who can spend more?
No contest, right?
My competitor can only go up to $19 (unless they've got a
back-end product) but I can actually spend up to $199. But
what else does that let me do? I can come into a
marketplace and suck up a big part of the resellers because
I can give more commissions. Hey, that's the name of the
game for many affiliates. I can give them $100 to promote
my product instead of the measly $10 my competitor might
give them.
And of course speaking of economics there's more money in
it for you. If you've got a high priced product there
should be a very high margin built in. If not, raise the
price. I'm serious most people are undercharging for what
they provide. My rule of thumb and one of my values I look
at it every morning in my planners says "I am rich by
enriching others 10x - 100x what they pay me in return".
That's a big deal for me. If you pay me $1000 for a product
- I want to make sure it delivers $10,000 in value for my
customers. I suggest you consider something similar. If
your product isn't good enough for you to raise your price
on it - make it better!
Here are just some of the high-end products you could sell
in the information marketing world (I've successfully sold
all of these and taught many of my students how to do the
same):
* Live events like workshops and seminars
* "Big" boxes of manuals, CDs, DVDs, CDroms, etc
* High end facilitated group masterminds
* eClasses
* "Done it for them" services
* Coaching
* Reprint rights and licenses and many more...
And don't think high-priced products can only sell if you
are selling 'how to make money' related products. I have
students and friends doing very well selling high priced
products to the fitness marketplace, the dating markets,
small niche obsessive-compulsive markets, self-help, career
marketplaces and many more.
Now a lot of people think selling high priced products are
a lot tougher than low-priced products. Not true. You
usually spend about the same effort trying to sell a high-
priced product as a lower priced product.
Now when selling a high-priced product most people make the
mistake of just trying to "1-step" it. That means sending
people off to a webpage or sending them a sales letter and
then nothing more. Only a small percentage will buy this
way. I prefer lead generating where I get people to "raise
their hands" and say "yeah I'm interested". This way I can
now afford to spend more to chase those prospects. And it's
not enough to just email them follow-ups. I prefer to have
a whole arsenal at my fingertips if needed like direct
mail, voice broadcast, telephone calls, postcards, etc.
If over-delivering on value - hold your breath and add an
extra zero to your price. You'll thank me for it! ;)
(c) Surefire Marketing, Inc.
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Yanik Silver is recognized as the leading expert on
creating automatic, moneymaking websites...and he still
doesn't know how to put up a website.
He is the author, co-author or creator of several best-
selling online marketing books and tools, including this
updated course for selling high-end products onine:
http://www.InstantInternetProfits.com
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