Subject: How To Sell
High-Priced Products
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! ;)
Yanik Silver www.SurefireMarketing.com
Copyright 2006
SurefireMarketing.com
