If you take the time and trouble to educate your market about what your product or service can do for them, explain the benefits they will get from their purchase, dimensionalize it and make them come alive in your prospect’s mind, and even compare and contrast these same benefits against what they pay for other products to provide - you’ll easily be able to command (and receive) a premium price.
Dr. Mani: In his full blog post, Dr. Mani explores “How to Fix a Price on Your Products”
5 Comments
Dr Mani,
You said “If you take the time and trouble to educate your market”……
Well, the nice part is that you only have to “take the time” once of you set up your marketing campaign properly.
I’m in the process of changing all my sales pages for my products. May be a few weeks before I get that done but I’m going to start implementing a 3 stage sales page.
First page generates interest, maybe a video and/or video. At the bottom of that page will be a big green “next” button, that the visitor will click to continue on with the education.
No purchase button will be on the first page of the sales letter…
On the 2nd page, I’ll offer a report that will go over tactics and methods for exact details based on the video or audio from the first page. This is where my opt-in will be…
So now they opt-in on the second page.
If they want to continue, there will be a big green “next” button which will show the 3rd and final page.
This is where they can actually make a purchase. Instead of the traditional long copy. I’ll have the purchase details right at the top of the third page. I’ll recap pages 1 & 2 below it and have all the material.
I’ll do this because in the opt-in report, all the links will go back to page 3 of the sales process. Some will make it there on their first visit, some will return later. If they return later, I still want to remind them of all the benefits that they saw on pages 1 & 2 from when they first visited.
Now, that optin report will have links to the 3rd page of the sales letter.
I’ll be testing this with several projects to see how well this works at educating my visitors and prospects.
But yes…….if you take the “time and trouble” I’m sure you can command the price you need. The good news is you only have to take the “time and trouble” once. Once you have your system set up, it works on every visitor.
I’ll be back to post the results of this 3 tier sales process in a few months.
Jason Anderson
Hi Jason,
Wow. Sounds like you have a very strategic approach going there. It definitely pays to spend time up-front to address the needs of your prospects in an *Automated* way.
The only suggestion I would make is to develop something more compelling than “next” — something like “Click Here to Get a FREE Report on ______”
Also, to get to the 3rd page where they can actually buy something, they won’t need to click a “next” button, right? You can just make that the “thank you” page from your opt-in process. Or am I missing something?
Jason, sounds very interesting. I’ve had uniformly dismal results from multi-part processes like this, probably because I didn’t end them on a ‘cliff-hanger’ close… but still, it should be an interesting experiment.
Even with complete PDF docs which combine story, solution and promise (sales pitch), my click-through rates are often poor to the sales letter, so I’ve preferred a single step ’story-to-close’ approach. Without comparing both head-to-head, it would be hard to say which will work better.
Please share some of your results with this approach, it should be interesting, regardless of whether or not it works better.
All success
Dr.Mani
I’m glad you mentioned that Dr. Mani. My CTR is dismal from PDF to sales letter. I’ve had some fairly widely distributed free PDFs out there and they never bring much traffic.
Better, as you said, to put the pitch right into the PDF.
I hope Jason will report back on his results.
Jason, you should split-test a single opt-in page against your two-part process.
I get many members asking me what to price a x-page report. There is no set pricing guide. As you say, it’s all about perception. Of course, the sales page has a lot to do with setting that perception.