As you already know, you’re not going to get rich from just one product. And here’s something else for you to consider: you’re not going to build a thriving business just selling $10 items.
Sure, low-cost products certainly have their place in your sales funnel. They make great tripwire offers to quickly turn a browser into a buyer. They also work well as upsell/cross-sell offers and backend products. But if every product you’re selling is a low-ticket item, then your sales funnel needs some work.
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Consider this: if you want to make $100,000 per year (which is a very reasonable goal), and you’re only selling items worth around $10, then you’re going to have to sell 10,000 products in order to reach your goal.
Now let’s suppose you have a $100 offer. Now you only need to sell 1000 products to reach that same goal.
And if you have a $500 offer? Now we’re talking just 200 products.
Go ahead and crunch your own numbers using a variety of price points, and you’ll see that the quickest way to your goal is to install at least one (but preferably multiple) high-ticket items into your sales funnel.
At this point, some infoproduct creators may be saying, “But I don’t think I can create an offer worth $97, $297, $497, $997…”
And I’m here to tell you that yes, you can – and it’s probably easier than you think. All you need to do is wrap your product idea inside a high-value format, and you’re going to have your own high-ticket offer.
So, with that in mind, let’s look at the key factors that go into a high-ticket offer…
Capture the Advanced Segment of Your Market
The first thing you can do to create a high-ticket offer is to design a product for the intermediate and advanced users in your niche. While selling beginner information is great (and you can make a lot of money doing it), advanced information tends to carry a higher perceived value. In other words, you can charge more for it.
Consider the Problem
When people have a really pressing problem, they’re going to be willing to spend a lot of money to fix that problem. Likewise, if there’s a topic that provides a LOT of benefits to someone (such as how to invest money), then users will pay more as compared to other topics.
For example, people who are looking to learn how to invest in real estate will likely pay a higher price than people who are looking to learn how to do quilting.
Another example: someone with excruciating backpain will be willing to pay a high price to get rid of that pain fast, versus someone who has a problem that’s not as pressing (such as someone who wants to improve their putting on the golf green).
Choose the Right Format
Another way to boost the value of your offer is by choosing a format with a high-perceived value. This includes live events, videos, audios and courses.
Note: the infoproducts with the lowest perceived value are ebooks, and this is particularly true if you refer to your product as an “ebook.” If you are selling ebooks – even if they are part of a bigger package – do not refer to them as ebooks. Instead, use a name with a higher perceived value, such as:
- Guide.
- Book.
- System.
- White paper.
- Blueprint.
- Course.
Even referring to the item as a “book” is preferable to ebook. Just make it clear that it’s a digital product (without actually using the word “ebook”).
Next…
Create a Package
The next idea for boosting the perceived value of your infoproduct is to create a package. In other words, you can add value by including relevant bonuses.
A good bonus should work alongside the main offer to enhance its benefits. If you can offer a bonus that makes it faster, easier, less expensive or better to complete a process or achieve a goal, then you have a bonus that’s going to add a lot of value to the offer.
One thing to keep in mind is that creating a bonus using the tips we’re discussing here we’ll ensure both your bonus and your offer as a whole is valuable. So, for example, you might offer videos, courses, apps/software and other tools as bonuses.
Let me give you a few examples of how a highly related bonus can enhance the benefits of the main product:
Example 1: Your main product is a dieting guide. You offer a meal-planning app and a cookbook as bonuses, both of which make it easier to get good results from the main guide.
Example 2: You’re selling access to a membership site that helps people train their puppies, including curtailing problem behaviors. You can offer a bonus video that demonstrates how to deal with the most pressing problem behaviors, such as inappropriate chewing or resource guarding.
Example 3: You’re selling a copywriting course. You can offer a valuable bonus such as group-coaching or even personal coaching (if your course carries a high enough price tag to justify you spending time coaching people).
Consider the Aesthetics
Yep, people really do judge a book – and any other product – by its cover. That’s why you need to make a great impression with the cover graphics, the interior design of the product, and the overall quality of the product itself.
Take note: if you can’t create a professional look and feel to your products yourself, then this is definitely something you’ll want to outsource. For example, if you need professional cover graphics, then post a project on a freelancing site such as Fiverr.com, Upwork.com or similar. Just be sure to do your due diligence so that you end up selecting a reputable freelancer who’ll do great work for you.
Now let’s wrap things up…
Conclusion
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As you can see, it’s probably a lot easier to create a high-ticket product than you think. Often times it’s more of a mental block than anything else, as product creators think no one will want to buy the knowledge they possess. If you put it in the right format and position it correctly in the market (as a high value offer), then you’ll be surprised at how many people line up to buy your premium product! So, put these tips to work to start creating your own offer.
Meanwhile, I’ll see you soon in the next Three to Thrive issue!
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