Your very best products – the premium stuff making you the most money – is worth even more than you think it is.
Let’s say you’ve got a successful membership site. You’re charging $20 a month and you’ve got 300 subscribers.
That’s $6,000 a month you’re bringing in, before expenses.
Obviously you’re doing well with that, right?
So what do some marketers do?
They make an info product teaching how to do this very thing. How to set up the site, how to get the outsourcers to create the content and how to get subscribers.
And they charge maybe $9 or $17 for a WSO or JVZoo offer on this product.
That’s one way to go.
But there is another method – one that generally makes more money with less hassles, and it’s this:
Making a premium offering.
Let’s face it – there are significant advantages to attracting $500 customers over $10 customers in the online marketing field.
A $10 customer tends to be skeptical. They need a lot of convincing because they’re pretty sure nothing works.
That’s because thus far, they haven’t met with much in the way of online success.
And when they buy your $10 program, they often need help.
A typical query: “How do I take payments?”
You: “Have you heard of Paypal?”
Your customer, “Sure, but could you walk me through on how to set that up?”
A $500 customer, on the other hand, tends to be on an entirely different level. They’ve likely already experienced online success, which is why they can see what you’re offering works.
They don’t have as many questions. And they know that any basic answers they do need (like how to set up a website, or Paypal) can be found online, rather than expecting you to do the work for them.
It’s paradoxical, I know.
A $10 customer needs $100 worth of your time. Or more.
A $500 customer generally doesn’t need help. But even if they do, you don’t mind spending the time with them because they’ve paid you good money.
So to get back to my original point, don’t sell your knowledge short.
Packaging your know-how and experience into a $10 product may lead to more frustration for you than anything else, even if you do have a great upsell.
Since, in this example, you’ve got a membership site that’s doing well, you could:
Offer to build them a similar but non-competing website, complete with 6 months of content
Offer to coach them one-on-one on how to build their site themselves (far more valuable, since they will then own the skill)
Work with membership site owners to get their subscribers up to a certain level