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Download available within 1-2 hours. Reach is defined as “range of effective action, power, or capacity.” Said another way, it is the measurement of how far something is outstretched. When I say “market reach”, what I mean is this: you want to have your brand to permeate your market.
Jimmy D. Brown – Six Figure Seller
PRODUCT CREATION
How To Earn (An Extra) $100,000
Per Year With Information Products
by Jimmy D. Brown on April 24, 2014
When Walt Disney’s girls were young, Saturdays were set aside to spend time with him. He would take them to various spots where the girls would play and enjoy themselves. As he watched them play, it occurred to him that he was on the outside looking in. He dreamed of a place where children and parents could play together. Disneyland became that place.
What started out as a heartwarming expression of love for his own girls, and a desire to help other parents connect with their children, developed into a multi-billion dollar business.
While making money may not have been the initial objective, it certainly turned into quite the money-maker!
In today’s lesson, I’m going to show you how to turn your business into “quite the money-maker” (although, probably not a “multi-billion dollar business – sorry!). But I want to stress something before we dive into the main body of teaching. The surest way that I know of to make money selling information products is to provide content that enables other people to achieve their goals and reach their dreams.
In the quote above, Zig Ziglar expresses this quite nicely when he commented, “You will get all you want in life if you help enough other people get what they want.” Walt Disney knew this secret as well. When he created a place where children and parents could delight together, money soon followed. And a lot of it.
Herein lies the foundation of your information business…
While it results in getting what you want (financial gain), it originates in helping others get what they want.
Everything I’m about to share with you needs to be built upon this premise. When you do the four things I’m going to suggest to you, they should be done with the intention of helping others get what they want. When that happens, you will get all you want. Money will follow. A lot of it.
Psychologists call this the “law of reciprocity”. The Bible refers to it as “reaping what you sow.” However you want to label it, the concept is the same: what you do for others not only benefits them, but it returns as a benefit to yourself.
With every information product I create, I always strive to create something that is loaded with benefit to the typical customer. That’s why I share so many details. And provide so many examples. And give so many tips. When you make your way through my information, I want you to “feel good” about me and my products. I know that the end result will be beneficial to us both.
Whether you sell to business people or parents or bodybuilders or educators or mechanics or whoever, do yourself a favor: help them get what they want. In doing so, you will automatically increase your business bottom line. That is, after all, the goal. Right?
With that foundation in mind, let’s look at four key components of a six-figure strategy for your information business.
If you have not yet reached the “six-figure” annual income level with your information business, then this should serve as a good primer to illustrate what is necessary for you to do so. If you are already beyond that level, then doing these things can add “another” $100,000 to your bottom line. Actually, the potential is much higher, but I don’t want to be too zealous.
Important: If you are not already selling information products online, this training is not recommended for you. Your first step is to create your own product. I recommend you begin with The Premium Product System at http://www.iPremiumProducts.com
Increase your market reach.
Reach is defined as “range of effective action, power, or capacity.” Said another way, it is the measurement of how far something is outstretched. When I say “market reach”, what I mean is this: you want to have your brand to permeate your market. You want saturation. You want as many prospects to know about the product(s) you are selling as possible.
If I were going to create a formula for this measurement, it would look like this…
+
=
That is to say, how much “reach” you have in your specific market is measured by how many visitors you receive to your website and how many subscribers you have on your email list. Just on sheer numbers alone, the larger your volume of traffic and the larger your list, the more money you will make.
Example:
All things equal, 10,000 website visitors will generate more profit for you than 1,000 website visitors. All things equal, 25,000 opt-in subscribers will generate more profit for you than 5,000 opt-in subscribers.
The important thing is to get more traffic to your website and more subscribers on your list in order to convert them into paying customers for your various offers. The more “market reach” you have, the more sales you’ll bring in just on the extra volume alone.
So, what’s your plan for this? How will you get more traffic to your website and get more subscribers on your list? Really, it comes down to website traffic. You should have an opt-in list available at your website so visitors can join. So, it’s really a matter of getting more people to your website so they can both join your list and buy your product.
How will you do this? While there are dozens upon dozens of ways to generate website traffic, let me save you some trouble by making a suggestion for you. I’ve been in this business for almost fourteen years and 99% of my traffic comes from one source. And it’s completely free.
Let me answer three questions that I know you are probably asking. If not, you will be soon. Those questions are…
Question1
What is “partner” traffic?
Partner traffic is website visitors that other people generate for you. That is, other people (AKA “partners”) send their best prospects and customers to you in exchange for a commission. Other people already have high-traffic websites and large lists. Instead of you working like crazy to build your own, you convince other people to send you what they already have in their possession.
Question2
Why should I focus on it?
There are many reasons why I believe partner traffic is the best traffic when used properly. Let me briefly mention two of them. First, it’s completely free. Yes, you are paying a commission (usually 50%) but the traffic costs you nothing. And don’t forget, YOU earn 50% yourself on every order generate through other people’s traffic. 50% of lots of traffic is much better than 100% of no traffic. Secondly, it helps you avoid having to learn all the latest strategies and software to do it yourself. It eliminates all kinds of learning curve, not to mention headaches as paramaters and terms of service change and force people to do things differently. You simply let other people learn the new stuff and send you traffic in the process!
Question3
How do I get it?
The first thing you need is an affiliate program. People will send you traffic, but usually only if there is a financial benefit to them. There are many options such as Clickbank, 2Checkout and JVzoo among others. Search Google.com for “setup an affiliate program” for details. If you use one of the previously mentioned services, setting things up is very easy as they handle almost everything for you. Once you have an affiliate program in place, there are lots of options for getting other people to promote your products for you. I’m going to share five of my current favorites…
Guest Blogging.
Webinar.
One of the more popular ways to generate traffic is through the use of webinars. A webinar is an online presentation whereby participants from different locations can see and hear the presenter. Sometimes they are allowed to ask questions. You can create a webinar where you present 45-90 minutes of content from the comfort of your home and have other partners promote it. In other words, your partners let people know about the webinar and convince them to register and join in to view it. During the presentation, you would promote your product and attendees would visit your website for more details.
Affiliate Contest.
Perhaps my favorite way to get a quick boost of traffic (and consequently, orders) is to hold an affiliate contest. That is, for a specified period of time, you track sales for orders generated by affiliate partners. You award prizes for the top sales generators. You can also randomly choose participating affiliates who might not have achieved top status for additional prizes. Affiliates often scramble to promote these events because they receive their normal commission plus these added bonuses. Another option is to create an incentive promotion. For example: Anyone who generates X number of sales during the next X days get X prize.
Interview.
As the author of your product, you are also someone that can be the featured guest in an interview. There are a wide variety of formats for an interview ranging from guest blog posts to podcasts to webinars to video presentations and so forth. The idea is simple: your partner promotes the interview to get a lot of people tuning in for it. They then ask you questions related to your area of expertise. During the interview – usually towards the conclusion – they pitch your product. Those listening/reading/watching the interview are then encouraged to visit your site and buy. Many will.
Broker.
Don’t want to set any of these things up yourself? Another option for “partner” traffic is to find and work with a “joint venture broker” or an “affiliate manager”. What this person does is setup guest blog tours, webinars, contests, interviews and other traffic generation strategies. In exchange, they get a percentage of your revenue. I worked with a wonderful affiliate manager (who is now quite successful in her own business – props to Nicole Dean!) for a few years and she did a fantastic job at getting “Jimmy D. Brown” out there in front of partners who sent me traffic.
Obviously, this is just a list of ideas to get you thinking. You will need to learn how to do one or more of these things in order to put the idea to work for you, but I hope you get how powerful “partner” traffic can be. Any of these five ideas can generate all the traffic you’ll need. You can choose one of these and allow it to be the ONLY source of traffic for the coming year and get a lot of it!
Before we move on, I want to emphasize something about each of these types of “partner” traffic. Do you see what each of them has in common?
That’s what makes this so, so powerful and profitable. All eyes are on you. It’s your time to shine. Instead of competing with a bunch of others, you are singled out as someone of importance. That will get you traffic.
Bottom line for this first component is this: you want more prospects.
Increase your conversion rate.
It’s one thing to get more traffic (or any traffic) to your website. It’s another thing to get that traffic to result in revenue. Said another way: it’s not enough to get people to your website, you need to get them to buy. You want prospects to turn into paying customers. Browsers to turn into buyers. That is, you need to increase your conversion rate.
Conversion rate is the relation of orders generated to the amount of visitors to your website. It is usually designated by a percentage of visitors who make a purchase. If 2 out of every 100 visitors to a specific page at your website purchase the offer showcased, then you have a 2% conversion rate for the offer on that page.
Conversion rate is one of those things that most people don’t pay too much attention to when they should be paying a lot of attention. Why? It’s simple…
Think about it in terms of numbers…
Scenario A
You sell a $47 product that converts at 2%. You
make $94 per 100 visitors. (2 sales X $47 = $94)
Scenario B
You sell a $47 product that converts at 4%. You
make $188 per 100 visitors. (4 sales X $47 = $188)
Same traffic = 2 additional sales per 100 visitors.
That may not sound like a “big deal” in getting only 2 additional sales, but it is a HUGE deal. Do you realize that you just DOUBLED YOUR SALES?!
Instead of 2 orders per 100 visitors you received 4 orders. That’s not just an increase of 2% in conversion rate, it’s a massive doubling of your orders. Imagine what that looks like as you get not just 100 visitors, but 100’s of thousands of visitors. That little bump in conversion adds up to a lot of money. A lot of money.
Now, there are numerous ways to boost your conversion. Some people have conversion dialed in like science. It’s an artform. They test and track every little detail so that their conversion rate is maxed out as high as it can be. There are comprehensive courses on the subject with hundreds of pages. There are software programs and services and coaching available. We’re not gonna get into all of that today. There just isn’t time.
There are three basic ways to boost your conversion that I’m going to mention briefly for you to research further on your own. Then, I’m going to give you a bit more information about one of them, my favorite one.
Conversion basically depends upon three things: who visits your website, what frame of mind they are in when they arrive at your website, and what they see when they arrive at your website. Each of these three factors are, to a great degree, under your control. >
There are three things you can do to increase your conversion rate based on the previously mentioned factors…
Generate better traffic.
The origin of your traffic is critical. Who it is that arrives at your website is important. The better quality traffic, the better your conversion. End of discussion. Let me offer a few suggestions on improving your source of traffic…
It must be
targeted.
If you are selling a product for bodybuilders, you’d be better off advertising to the muscle and fitness crowd than you would to the knitting and crocheting crowd. You may be able to convince a few knitters to visit your site, but they are infinitely less likely to buy from you than someone who has a pre-existing interest in the subject matter of the product you sell. It is absolutely mandatory that your traffic be targeted.
It should be
qualified.
While not “mandatory”, it is certainly preferable that your traffic also arrive qualified to purchase. If you are selling a product that is for “advanced” clientele, then your conversion will be higher if you screen out beginners. If you are selling a high-priced product, then your conversion will be higher if you screen out those with limited or no budget. If you are selling a product for women only, conversion will be higher if you screen out men. Who is your ideal customer? That is who you want to attract most if possible.
It can be
referred.
Personally, I consider this “close” to being mandatory. That is, if at all possible, you want prospects to arrive at your website having been recommended to you by someone else. When someone endorses you, it instills customer confidence. If they trust the opinion of the referrer, then by proxy, they trust you and your product since it was referred to them by a trusted source. The more you can get other people to send you their targeted, qualified prospects, the better!
So, how do you get such traffic? The solution is simple: use the “partner” traffic suggestions that I gave you earlier in this training. 🙂 It meets all three criteria in addition to the numerous reasons I mentioned previously.
Presell with free content.
What frame of mind the prospect is in when they arrive at your website is important. The “warmer” they are, the better. Restaurants make the most money when people are hungry, right? No hunger = no cheeseburgers being sold. Said simply, you want those visitors to arrive at your website hungry. Already warmed up to your offer. Already interested. In fact, to some degree, anxious to actually buy it.
This happens most effectively when you (or a partner) “presells” the prospect. In the green box below, I’m including an excerpt from one of my courses where I teach how to “presell” customers. In this excerpt, I reveal a method of preselling that I’ve been using for well over 10 years. Go ahead and read this and then we’ll pick back up below…
Excerpt From The Free To Fee System™
To begin, I want to share with you what I consider to be the ultimate strategy for moving people from “free to fee”. I’ve been teaching this for more than a decade and the phrase that I coined has been referenced many, many times by others.
Let me give you the phrase, then an explanation, and then some examples…
That is the kind of content that gets people to buy. It’s far and away the best strategy I’ve seen in almost fourteen years of selling information and teaching others to do the same.
Provide others with “useful, but incomplete” content. Here’s what that looks like…
Part One (“Useful”)
That is, your information must be something of value to the
reader in and of itself. It should communicate knowledge and
experience that are helpful and advantageous to the reader.
But, also…
Part Two (“Incomplete”)
That is, your information must be lacking in that they can
better use the information you shared by making a purchase.
The information you give can be further explained or enhanced
or employed by buying something.
I’m going to give you some examples now to make this clear. To keep it simple, I’ll refer to article examples – that is 500-800 word articles – that are “useful, but incomplete” and ultimately promote a product.
Example #1:
If I wanted to promote a list management service such as Aweber or Constant Contact, how could I use an article to do this with the “useful, but incomplete” approach? By writing an article that explains how to profit from mailing lists. My article could explain “7 Ways To Make Money On Autopilot”. In it, I would explain different strategies to make money by setting up automated emails to go out to subscribers. That’s “useful”. But, what’s “incomplete”? They need a list management service to do this. And I just happen to know of a great service they can use. 🙂 I point them towards that service.
Example #2:
If I wanted to promote my own Premium Product System course at http://www.iPremiumProducts.com, how could I use this strategy? By writing an article entitled, “Your Checklist For Creating $97 Products In 48 Hours Or Less”. In this article, I would share the exact steps that I teach in my course for creating those $97 products in 48 hours or less with a paragraph explanation of each of them. That’s “useful”. But, what’s “incomplete”? I’ve told them WHAT to do, but I haven’t explained HOW to do it. Buying the product gets them a detailed explanation of each step with all my shortcuts and secrets.
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Example #3:
If I wanted to promote http://www.Contentaire.com, how could I use this strategy? By writing an article that shares, “How To Write An Order-Producing Salesletter”. I could be extremely thorough in this article, really covering the subject matter well. That’s “useful”. But, what’s “incomplete”? It takes a lot of time and effort to write a good salesletter, so I could point to Contentaire in a variety of ways – ranging from the fill-in-the-blank salesletters included, the complete step-by-step copywriting course included, and the hundreds of fill-in-the-blank templates included. (Plus, I would mention that the salesletter part of Contentaire is just ONE of the many other components included!)
What I want you to understand is the strategy and why it works so well. It provides something of value to the reader in and of itself. But it also always points to a resource that makes the valuable content even better.
This…
- Builds trust by showing you know what you’re talking about in the content.
- Warms up the reader to a potential purchase of the recommended resource.
- Initiates the sales process that is continued seamlessly at your website.
When someone reads your article or report, watches your webinar, listens to your podcast, or takes in your content in any other form, they get some benefit from it. It’s quality information. It has value to the reader. They find it helpful. It is “useful”!
But, it’s also “incomplete”. It can be made even better by a paid purchase that will do one of three things…
Explain
If the free content provides an overview of a how-to process, or it provides a list of ways to do something, or it identifies WHAT to do … a purchase can provide a complete system – a detailed explanation – of the core concept(s) shared in the free content. What was shared in part can be shared in full.
Enhance
Maybe the paid purchase shows a better way to do something than the article, or shares a shortcut for doing it, or provides case studies for how other people are doing it, or has ready-made research or a brainstorming session of ideas. Maybe instead of one idea showcased in the article, the paid resource gives 27 more ideas. The free content is enhanced through a purchase.
Employ
You could use the paid purchase to provide software or templates or a service or some other resource that actually does what is taught in the free content for the reader. Or, there could be a paid purchase that is REQUIRED in order to apply the information shared in the content.
I just want to establish this core strategy that we are going to build upon. It is a fantastic concept that is very, very effective for getting people from “free to fee”.
Useful. But. Incomplete.
Before we move on, let me make an observation that is worth pointing out to you. The above excerpt is a very basic way to “presell”. To some degree, I have now “warmed you up” to my Free To Fee System course. At a minimum, I’ve raised your awareness of it. Maybe you’ll click through today and check it out. Maybe you won’t. But, it’s in your mind locked away somewhere for another day. The next time you hear about the product, it will be a bit more familiar to you. Enough exposures, and you buy.
And that’s just a simple way to use free content. There are many more that are even more effective. But you’ll have to buy the course to get the information my paying customers get. 🙂 See how that works?
Improve your offer.
At this point you have traffic and you have that traffic arriving already warmed up to your offer. What now? The final thing you can do in order to increase your conversion rate is to improve your offer. Here are just a few things for you to tweak and test to optimize things…
- Your headline, call to action, guarantee and other parts of your salesletter.
- The graphics, design and layout, and other visual elements of your page.
- Factors like your price point, perceived value, and bonuses.
- Use (or lack thereof) of deadlines, limits and other aspects of creating urgency.
- Format, delivery, packaging, and other aspects of your product.
These are just a few of the things that you can tweak to improve your conversion rate. As you improve your offer, you will improve your conversion rate. The two are permanently intertwined. As your offer goes, so does your conversion.
Bottom line for this second component is this: you want more prospects who become paying customers.
Increase your repeat purchases.
An age-old marketing law is this: “it’s much easier to sell MORE to existing customers than it is to find new customers to sell to”. Your information business stands to gain serious momentum when your existing customers spend money with you again and again. The principle is clear…
So, let’s talk about some options for getting customers to spend more money with you. There are several, but I want to mention two of my favorites…
Option
Recurring Income.
Recurring income is ongoing compensation from a customer at a predetermine time interval. In other words, the customer pays you again and again in regular installments.
These regular installments can be monthly, quarterly, bi-annually, or annually.
There are many reasons why EVERY information business should have at least one stream of recurring income. Let me suggest a few that directly benefit YOU…
- Recurring income builds loyalty. The customer really buys in to you and your products. They become a member of your tribe. They look to you for information. You are the authority instead of your competitor.
- Recurring income is predictable revenue. You can rely on the rebills to bring in steady income each month. This serves as a great foundation of security for your business.
- Recurring income affords you multiple selling opportunities. That is, with delivery of whatever the customer is paying you for, you have a chance to highlight another offer of yours either in the resource itself or as an attached advertisement.
- Recurring income is easy to upsell. That is, when someone purchases one of your existing products, you can simply point them toward your source of recurring income as an option for them to add to their order.
Like I said, there are many different reasons recurring income is a benefit to your business. These are just a few.
Now, that probably brings up a question – WHAT recurring income? Again, there are many different options for creating recurring income. Let me mention three to get you thinking…
1
Membership Site.
A typical membership site is an arrangement where members pay you ongoing fees (generally “monthly” fees) for ongoing content. That is, there is no end in sight. They keep paying you. You keep providing content. This is usually in a password protected members area at your website.
2
Fixed-Term Membership Site.
This is a short-term arrangement usually lasting 4, 6, or 12 months. There is a series of content (oftentimes reports or videos) that is released to the customer one component per week or month for the “fixed term” period. The customer pays monthly for the content that you provide. When the period is over – the customer has received all of your content in the series, and you have received all of her money for the series.
3
Miscellaneous Subscriptions.
There are a variety of services that can also bring in recurring income. Included are contact management (autoresponders, email lists), hosting, web-based tools like Adobe Creative, databases like Merriam Webster, calendar creation tools like Calendars That Work, and so forth. Anything that customers pay regular installments to access and use would fall into this additional category.
However you categorize it, this is a great way to get the same customer to spend more money with you. They simply pay you repeated installments. It doesn’t take a genius to see the financial benefit…
Customer joins a fixed term membership site from you for $20 X 12 months
$20 vs. $240
Same customer, more money spent.
So, that’s one idea. Here is the other…
Option
Funnel Income.
Another option for getting your customers to spend more money with you is to create a funnel that progressively leads the customer to more and more buying opportunities at varying price points.
There are many different things to include in a funnel. I’m going to show you a typical funnel that I believe the “average” person can easily incorporate into his or her business. I won’t include outlandishly priced items that only a very few will ever reach. I want you to get a realistic picture of what you can do with a funnel.
Let’s look at a typical funnel and then talk about how to facilitate sales between the various levels…
Level One: $7 Report
Level Two: $10-$20 Monthly Membership
Level Three: $97 Premium Product
Level Four: $297 Coaching
So, let’s see what happens here…
You do what we mentioned in components one and two – you generate traffic and convert that traffic into a sale of a $7 report.The customer loves the report.
At the conclusion of the report – and in your follow-up email messages – they find out about your monthly membership site. They join it because they love your content.
Inside that membership site, one of the pieces of content they receive is an excerpted chapter from your $97 premium product. They love the excerpt and want to read more, so they buy the full product.
At the beginning of the product, just after the title page, is an advertisement for your coaching. They’d love to work one-on-one with you since they love your content. They buy the coaching.
well over $400 from that customer.
(Not to mention, hopefully directly influencing their life – helping them get what they want!)
That’s just one example of how to move the customer and facilitate sales from each level. (BTW, there are other levels too such as licensing your content, but I’ll save that for another day.)
Here’s the profound nature of this funnel…
That is to say, you might have dozens of $7 reports. You might have 3 or 4 (or more) membership sites. You might have a handful of $97 offers (or two handfuls). You might even have multiple coaching classes.
And each of them all point towards others so you have amazing cross promotion. If a customer buys ANYTHING from you, they ultimately are exposed to ALL of the available offers.
How? Let me offer just a few ideas…
1
In Content References.
That is, in the content for Product A, you can mention Product B. This can be as a case study (Ex. When I was researching X Product, I found out…), or the introduction of an idea (Ex. One thing I teachin X Product is…), or a suggestion (Ex. If you don’t already have X, then I suggest you pick up a copy of X Product) or any of a dozen other ways to mention your existing products in content of anotherproduct.
2
Recommended Resources.
This one is super easy to do. At the beginning or ending (or both), you can reference all related products as recommended resources. In the beginning, you could have an “About The Author” page which has a list of your products with a 1-2 sentence description of each, along with a clickable link to their respective webpages. At the ending, you can simply have a “Recommended Reading” section with a list or resources, description of each, and link to each.
3
Excerpts.
This one is absolutely brilliant. Take 500-1000 words from one product and use it as an excerpt in another product. Mention where the excerpt originated, provide a brief description of that original product, and then insert a clickable link for more information. Easiest cross promotion you will ever find.
4
Free Training Creatives.
When you create email mini-courses, articles, free reports, webinars, blog posts, or training pages like the one you are reading, etc., then reference multiple products. Don’t force pieces where they don’t belong and make sure your content to advertisement ratio is strong. But don’t be afraid to use your free content to promote multiple products.
5
Upsell.
When you sell the $7 report, offer the $10 membership at the point of sale. I’ll speak directly to that in the next section, but I wanted to mention it here to emphasize the idea of introducing the customer to multiple opportunities to make additional purchases.
When a customer spends more money with you, it moves you more quickly toward your goal of an extra $100,000 per year with information products.
This is important because…
I know we’ve looked in great detail at how to increase your revenue. And I’ve referred a lot to things like “get more” from customers. Let me emphasize again what I started the training off with today: you “get more” from customers when you help THEM “get more”. Don’t lose sight of what makes this a win-win. That’s easy to do when we’re talking “numbers”. And I don’t want it to sound like everything is all about making a buck.
The nature of this training is to teach you how to increase your revenue. This is NOT at the “expense” of the customer, but to their benefit. You don’t want to simply get their money, but you want to provide them with information and resources that help them get what they want. In doing so, all of this training becomes easy to accomplish.
For example: Apple gets a lot of my money. But they do so because I get what I want from their products. Disney has gotten tens of thousands of dollars (and a lot of that is EXTRA money through their marketing) from me but I am not to be pitied nor have I been exploited by them. They provided me with what I wanted for the money I spent. They didn’t trick me or manipulate me or cheat me. They convinced me to spend money on things I wanted. And they delivered. That’s your business model.
Bottom line for this third component is this: you want more prospects who become paying customers to buy more products from you.
Increase your profit per transaction.
Finally, you want the customer to spend more with each transaction. Not only are they buying more things, but they are spending more money on each of those things.
When I buy a television from the local electronics store, they don’t just want me to spend $799 for the television. They want me to buy the $1,299 television. They also want me to buy an extended warranty plan. And a mounting bracket. And installation. And a dish subscription. And surround sound. When the transaction is finalized and I look at my receipt, they do not want me to see $799. They want me to see $1,799.
This is important because…
- I’m “hot” when I say “yes” to making the initial sale. I’m raising my hand and saying, “Yes!” I want to buy something. I’m prepared to buy something. I am, in fact, buying something.
- They may never see me again. I might walk out the door and move to another town. Or make a friend who works at another electronics store. Or lose my job. Or become disinterested in television.
While you certainly don’t want to overdo it (that can get SO annoying – would you like this, would you like that, would you like a different this and a different that!), you also want to take the opportunity to increase your transaction because that customer is ready to buy and they may never be ready to buy again.
Again, it’s not just junk you’re pushing. And there is no need for tricks or pressure. Just give them the opportunity to spend more.
Back in the mid 90’s, I went into a well known electronics chain to buy a new Sony laptop for about $1,200. I go through laptops quickly (I purchase at least one new one each year), and so I declined the extended warranty. The sales clerk told me that it costs about $10,000 to replace the screen if it were to malfunction beyond the factory warranty (literally, that’s what he said).
I declined again, telling him that I would likely buy a new one in less than a year, well within the factory warranty. He said, “Sir, you can’t take that chance. Don’t you understand, if you wait past the factory warranty and the screen malfunctions, you’ll have to spend $10,000 to have it replaced!” Uh, no, I’ll be out $1,200 to buy a new laptop. Which is what I plan to do anyway.
Moral of the story:
don’t be a moron in how you try to convince your customers to spend more money with you.
There are two very useful and effective ways to increase your profit per transaction that I want to mention to you…
Option
Point Of Sale Offers.
One solid way to get your customers to spend more money with you is through a an offer at the point of sale. These are usually in the form of an “upsell” or a “cross sell”.
An “upsell” is asking the customer if they want more of the same, while a “cross sell” is asking the customer if they want something related.
If you look to McDonald’s you’ll see a perfect example of how this works…
UPSELL: “Would you like to supersize your order?” (More of the same)
CROSS SELL: “Would you like fries with that?” (Something related)
SIDEBAR: A word to the wise – make sure your cross sell really is related, or you’ll have MORON written all over your face. I was in a toy store once with my son and we bought a couple packs of baseball cards. The clerk asked, “Would you like any batteries with that?” Hmm. Do these cards need batteries? Remember what we’ve talked about – everything you do needs to help the customer get what THEY want, not what you want to sell. Create your offers around that strategy and you both benefit.
So, the idea is this: at the moment a person is prepared to make a purchase, present them with an optional additional item they can purchase during the same transaction.
Instant increase in profit.
I once had an upsell that sold at a whopping 90% rate!
Don’t let what I said pass by without some reflection. There is a percentage – sometimes a hefty percentage – of your customers who will automatically buy the upsell just because you offer it. Automatically. Buy.
That is to say, once you set it up, your profit per transaction will automatically increase.
Think about the numbers…
If you sell 10 copies of a $47 product you’ve earned $470 for those 10 transactions.
If you sell 10 copies of a $47 product and 3 units of a $20 upsell, you’ve earned $530 for those 10 transactions.
(10 X $47= $470) + (3 X $20=$60) = $530
So, instead of earning $47 per transaction overall, you earn $53 per transaction overall. That’s an extra $6 per transaction X EVERY TRANSACTION. This can be a huge amount of money over time. A. Huge. Amount.
So, offer an upsell! It could be…
- A special report.
- A related product.
- A bunch of articles.
- Coaching.
- Subscription.
- Done for you service.
- Membership site.
- Trial offer.
- Accessories.
- Templates.
- Other formats (audio/video)
That’s one way to increase your profit per transaction. Here is another…
Option
Premium Products.
Most people will NOT succeed with the Wal-Mart® business plan. The average person simply can’t find the volume of customers required in order to make the low-cost offers model work. In other words, most people won’t make a significant amount of money online trying to make a small profit from a large number of people.
Consider this –
This Will Not Work! If you’re selling a product that yields $10 profit, you’d have to find 1,000 NEW customers per month to make $10,000 per month.This is almost impossible to pull off even ONCE for most people. And certainly can’t be done month after month after month.
Low-cost information products simply aren’t the answer for significant, sustainable income. At least, not on their own.
The key there is, “not on their own”.To be sure, you should have low-cost “entry level” products. In fact, they are an integral part of any overall business plan as I showed you earlier in the “funnel” discussion.
You want to sell products at a premium price. $97, $297, $497, $997 and more.
1000 orders at $10 = $10,000
100 orders at $100 = $10,000
10 orders at $1000 = $10,000
Trust me when I tell you that it is far easier to find 10 people to spend $1,000 than it is to find 1000 orders at $10. Far, far, easier.
The problem is usually having the ability to create a product that is “worth” $1,000, right?
That’s why I love to camp out around the $100 mark. Usually, this is a $97 offer. Selling 100 orders at that price point is still very reachable. And it is still far easier than selling 1000 at the $10 price point.
One of my courses (www.SmallReportsFortune.com) has actually sold over 1,000 copies at the $97 price point.
love this price point so much and have done so well with it that I actually have created a feature length training on the subject of how to create your own $97 products in 48 hours or less at www.iPremiumProducts.com
So, what can you do to create a $97 offer? Let me give you three quick ideas…
Specialized Training.
Generally speaking, the more specialized the content, the more it costs. For example: a page from a recipe book won’t command as much money as a page containing the combination to a vault full of gold bricks. 🙂
Seriously though, all content is not created equal. Marketing 101 will generally not command as high a price tag as Marketing 101 for Chiropractors.
One easy way to increase your price is to specialize your content. Drill down at least three levels in your market. Here is an example from my own market…
That’s what I did for creating The Premium Product System. Specialized training.
Personalized Training.
That is, personal coaching. It can be something as simple as email coaching where you answer a customer’s questions via email. Or a telephone consultation. Or video conferencing. Or live chat via Facebook. The idea is simple: the customer pays extra because they get to interact with you one-on-one to answer their questions and give them feedback. See http://www.Imteraction.com for an example of how I offer this kind of coaching myself.
Optimized Training.
This is one that I teach in The Premium Product System. The idea is to create a Powerpoint® slideshow video training and add in valuable accessories like complentary reports, checklists, templates, swipe files, etc. to create a $97 package.
This is ESPECIALLY effective when combined with “specialized” information as I mentioned earlier.
Don’t deliver your content as “Just an ebook” or even a Kindle ebook. Instead, properly create and package it, and you can command a premium price for it.
So, those are a couple of great ways to increase your profit per transaction.
Bottom line for this fourth component is this: you want more prospects who become paying customers to buy more products from you at higher price points.
Take a look at a quick recap…
- Increase your market reach.
- Increase your conversion rate.
- Increase your repeat purchases.
- Increase your profit per transaction.
Now, while I’ve given you a LOT of information and a ton of examples and options, you probably want a workable plan, right? That is, you want something concrete to do with each of these steps to get this in place. You can’t do it all. You need one simple solution for each step.
So, that’s where the Six-Figure Seller™ training program can help you…
That’s everything you need to add another $100,000 to your information business.
You want:
- More prospects…
- Who become customers…
- That buy from you again and again…
- At higher price points!
Everything we talked about in this meaty tutorial is dependent upon those four things. You want to increase your market reach, conversion rate, repeat purchases, and profit per transaction.
While I gave you a LOT of ideas for doing each of those things, none of these ideas were explained in great depth and detail. Plus, you are left with the task of deciding which one is right for you. That’s where I can help you…
In the Six-Figure Seller™ training program, you will discover ONE proven-effective way to increase your market reach, conversion rate, repeat purchases, and profit per transaction. That is, you will learn one process for increasing the number of paying customers who make repeat purchases at higher price points.
You learn it all
traffic, conversion, repeats, and bigger spending.
While there are many different ways to do the things we looked at in the tutorial, I have personally selected strategies that I feel are the easiest to accomplish so you can start seeing results quickly.
What we do in the Six-Figure Seller™ training program is basically “work backwards”.
- First, you setup a method of getting customers to spend more money.
- Second, you create a “repeat purchases” buying environment.
- Third, you place a resource in position to convince prospects to buy.
- Fourth, you generate traffic to start the process.
This is done on purpose. For example: if we started with “traffic”, then you would not yet have a method of converting that traffic in place or a method for getting that traffic to spend more money. Said another way: you would be missing out on revenue.
So, the Six-Figure Seller™ training program is designed to not only help you with the “four components”, but also get them completed in the proper order.
“How much money can I make?”, “Do you guarantee I will make six-figures?” and other “Will I get rich?” type questions…
Listen, I don’t know how much money you can make or if you can make any money at all. I certainly don’t guarantee you will make six-figures or get rich. I don’t know anything about you. How can I possibly guarantee you’ll make even a penny without knowing your motivation, ability to follow instructions, and a dozen other variables? I can’t. And I don’t.
The purpose of this training is to teach you strategies that can be used to generate six-figures with information products. I’ve personally done this each and every year for the past fourteen years. The results you generate are up to you. I’ll show you how, but I can’t guarantee you will make any money at all. And anyone who makes such guarantees is asking for trouble with the FTC. You won’t find that here.
Now that I’ve told you what you don’t get, let’s focus on what you DO get. Here is what’s included in this training…
Month One: Price Points.
The first training session in the series will teach you “how to increase your profit per transaction.” That is, you will learn how to get up to 50% of your customers to automatically spend more money with you. I will highlight the two most effective ways to increase the amount of money customers spend with you per transaction, along with three options for putting it to work for you. (Hint: A couple of them can be setup in just one day.)
Month Two: Purchases.
This month’s training is the game-changer. If you join the program for no other reason than THIS video presentation, you’ll be well-pleased that you did. I’m going to teach you how to create residual monthly income that also includes “built-in” backend orders. Specifically, I’ll teach you how to setup your own training program similar to this one with some amazing insights and twists that you would have never thought of on your own.
Month Three: Payments.
Our third install in the series will share a very effective method of increasing conversion. That is, I’m going to teach you how to give away free content that convinces people to buy from you. While I’ve taught about free content before (and even have a full course available on the subject), I have NEVER taught this strategy before. This will be the first time I have revealed how I use this “presell” strategy, with a detailed “how to” system that you can use as well.
Month Four: Prospects.
In our fourth and final session, you’ll learn about traffic generation. Specifically, I’m going to teach you how to get free traffic that features you as the “expert”. This training will share a strategy with multiple variations to focus on you as the center of attention so you can attract visitors to your webapge that are eager for more. There are hundreds of ways to generate traffic, but this one is especially effective because, when done well, it actually generates visitors who are already eager to buy from you!
Each month’s training includes…
- 1Approximately forty-five minutes of training. Each of the four monthly installs includes a video training presentation that is approximately forty-five minutes long. This is a downloadable video that you can watch on your computer anytime – no need to be connected to the Internet or watch from inside a member’s area. The video is yours to view anytime, anywhere.
- 2Alternate formats. You will also receive a word-by-word transcript of the training presentation delivered in .pdf format. You can read it on your computer, tablet or phone. Or print it out to highlight and take notes. Additionally, there is an included .mp3 audio version of the training in case you want to listen to it on your mp3 player while exercising or in your vehicle while in commute.
- 3Customized accessories. Each month will also include an “extra” that will enhance the training or give you a different option for completion. You will find that these are actually as valuable as the main training itself – in some cases MORE valuable! I am widely known for overdelivering, so you know these will be good. And, as I am also known for, these accesories are “relevant” and not just thrown in to raise perceived value.
The training itself is in my typical style – which is to say, it’s “darn good”. 🙂 Seriously, if you have purchased any of my products in the past, then this training is typical of what I do. Or, if you’re new to the world of Jimmy D. Brown, then the tutorial you’ve been reading is typical.
Get immediately download Jimmy D. Brown – Six Figure Seller
Here is what you can expect in these training sessions…
- Lots of ideas and examples.One thing I really like to do is share examples so you really “get it”. Examples really bring clarity to training. They let you know what the information looks like in real life. You’ll find a lot of these in each training. Plus an abundance of ideas – thoughts, variations, tweaks, options and so forth to really put the training to work for you.
- On target strategies.Each of these training sessions ties directly into the four components of earning an extra $100,000 with information products. These aren’t “also do this” ideas, but rather are core strategies that are at the heart of how to do the things we’ve talked about in the tutorial.
- Workable plan – I’ve chosen a path for you.As you learned in the tutorial, there are many potential strategies that you can use. I’ve narrowed things down for you. Nothing for you to pick from, just universal strategies that work for every information products business. One path. One way. You don’t need to figure out the moving parts, I’ve done this for you.
This is stuff you can put into practice immediately!
Are You Qualified?
Six-Figure Seller™ training program is NOT recommended for “beginners”. In some cases, I’ll explain “how to” do it in step-by-step format, but in other cases, there will be “what to” do where you will need to have existing experience selling information products.
If you are not already selling information products online (ebooks, membership site, etc.), then it is recommended you try Small Reports Fortune or The Premium Product System first.
Sounds fantastic, right? There’s no question that this is something that will be most helpful to anyone who is already selling ebooks and other information products. You get it. You want it.
The only question is, “how much is this going to cost?”
Let’s be honest, that’s the real driving force here, right? I mean, there’s no question that the training is desirable and you want to be a part of it. The question is, “how much is this going to cost?”
My normal pricing for my one hour long video training sessions is $97. That’s not something I’m just making up, it’s actually what I charge for my hour-long training videos. You can check it out at my website to verify.
So, for a 45 minute session, the regular price is $67 for each training session. So, that’s the answer to the question. The Six-Figure Seller™ training program is going to cost you just $67 per month for four months.
This is a very small price to pay when you consider what you’ll learn and what it can mean to your business. I mean…
Think about it: if you get one customer to spend another $67 with you over their lifetime as a result of the training, then that month has paid for itself.
But, I’m going to make this a complete no-brainer. For a limited time only, you’re going to get this training at just $20 per session instead of $67.
I think I just eliminated the only excuse you had for not immediately enrolling in the Six-Figure Seller™ training program! There should be a big smile on your face right now. This is a deal. And you know it.
Truthfully, this is right in the “sweet spot” for you.
Only one thing left to do…
Course Features
-
Lectures
1 -
Quizzes
0 -
Duration
10 weeks -
Skill level
All levels -
Language
English -
Students
146 -
Assessments
Yes
Q & A
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