Throughout these issues, you’ve been learning about creating infoproducts that people really want to buy. As you know, one big key is to research your market first, so that you create something that people really want. Another key is to create something fresh, something that stands out from the competition. Still one more key, as you learned, is to create an attractive bonus or bonus package.
Now we’re going to continue that discussion by looking at other factors that will make your product more attractive to your market. Read on…
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“Niche-ify” the Offer
Sometimes marketers think that if they make their product for “everyone,” then they’ll have a large pool of prospects and a lot of sales. Unfortunately, however, it doesn’t work that way. In fact, the opposite is true: you need to niche down in order to generate sales. Indeed, you can even create a series of niche-ified offers directed at specific segments of your market.
For example, let’s suppose you have a dog training guide. You can niche down by targeting specific categories of dogs, such as small dogs. You can niche down even more by targeted specific breeds, and all it takes is a few simple tweaks to niche-ify a product. E.G., “The Secrets of Training Yorkshire Terriers” and “The Secrets of Training Toy Poodles.”
Now imagine someone has a toy poodle, and they’re going to buy a training guide. Which one are they going to buy: “The Secrets of Training Your Dog” or “The Secrets of Training Your Toy Poodle?”
That’s right, they’re going to buy the book specifically aimed at toy poodles. As such, focusing in on a smaller niche can help you generate MORE sales than if you try to appeal to everyone.
Now the next tip…
Set the Right Price
If you price your product too high, people may not buy it because they can’t afford it. If you price it too low, people might not buy it because they think the product must be junk since it’s so cheap. That’s why you need to set the right price.
The way to pick the right price is to first do some pricing research to find the range of prices among your competitors, as well as the median price (which is the most-used price). Then compare your product to the competitors’ offers to determine if your product is worth more or less.
For example, maybe courses similar to yours go for $27-$97 in your market, with most of them priced right around $47. You’d start with this median price ($47), and determine if your product is worth more or less than this based on how you’ve positioned the product, the overall bonus package, the format (e.g., video is worth more) and similar.
Perhaps you find your product to have more value than most, so you price it at $97. Or perhaps yours is about average, but you price it slightly under the median – at $37 – to provide a lot of value for the price.
This gives you a starting point for pricing your offer, but as always be sure to test and track to determine the most profitable price with high conversions and low refunds.
Get a Professional eCover
Yes, people really do judge a book (or a video or a membership site or any other product) by its cover. If you’ve got a cheap-looking cover, your audience is going to assume the information inside is junky too. And likewise, a professional cover helps set the expectation that the product itself is high-quality, polished and professional.
Unless you are skilled with graphic design, don’t even try to do this yourself. Instead, outsource this task to a professional. You can find a designer by searching Google for “ecover designer,” or you can simply post a project on Upwork.com or Fiverr.com.
Prove It Works
Your audience is a little skeptical when it comes to your offer. They don’t quite believe that it’s going to work for them. That’s why sharing case studies, testimonials and other forms of proof help boost conversions.
And here’s something else: reverse the risk by offering a money-back guarantee. Even though you’re proving that your product works, your prospect is still skeptical. So, here’s where you say, “I promise it works, or you get your money back… no questions asked.”
TIP: Longer guarantees tend to work better to both boost conversions and reduce refunds. If your guarantee is too short (such as one week), the buyer may panic if they haven’t yet used the product, and they’ll quickly ask for a refund while they still can.
Your guarantee should be at least 30 days long, and preferably as long as it will take for someone to complete a task (or even get results). For example, if you have a course that teaches people how to set up a business in 90 days, then you might offer a 90-day guarantee.
Here’s a related strategy…
Give People a Free Sample
As you just learned above, people tend to be a little skeptical of your claims. That’s why you’ll want to offer a “free sample” of your product.
If you have a membership or subscription style site, you can offer prospects a free month inside the site. If you have a regular infoproduct, then you can splinter a valuable piece of it and offer it for free. For example, if you have a multimodule course, you can offer one lesson for free. Or if you’re selling an ebook, you might offer one chapter for free.
The beauty of this method is that it provides a risk-free way for prospects to try out your product. The benefit is that you get to collect email addresses to encourage people to use the sample and to “upgrade” and purchase a full membership or the entire product. End result? You get higher conversions and fewer refunds, because people know exactly the quality of content they’re getting when they buy your product.
Now a few parting words…
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You just learned five more ways to make your product more attractive to your audience. Go ahead and put these tips to work to boost your conversions too!
That’s it for this issue of Three to Thrive. As always, stay tuned, because there’s another value-packed issue coming your way soon!
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