The Case for Giving Away Your Low-Ticket Product
Instead of selling them a $10 or $37 item, what if you were just to give it to them for free? Allow them to “test you out” without actually making a purchase. Again, you might think, “How do we know that this works?” Well, you don’t yet, you haven’t implemented it. In my experience, I know it works, I’ve tested it.
The third thing you may have been thinking is, (we’ve skipped the second way which is “Everyone does it this way” because I agree with you, they do) the third reason that you may be a little skeptical is that they have to build some trust and a relationship with you. So why not build trust in a relationship into your email campaign instead of requiring them to pay for it? Over the last couple of years I’ve tested this out. I’ve created high trust, high credibility interactive campaigns that get people to develop as much trust and credibility in me as if they had purchased… only without purchasing.
I will now share with you some numbers on this second scenario.
Imagine instead if you have 1000 subscribers and you had a 1% conversion for a $1000 package within the first 14-18 days. With a 1% conversion, you’ve made 10 sales for $10,000 on your 1000 subscribers. Now, if we used the same numbers that we did earlier, then what you may have is $2,000 of investment at a $10,000 return.
Let’s imagine that we sell 10 high ticket programs, however this program is exactly the same as a home study course. People get hung up on the fact that they cannot coach. Coaching programs are just a home study course without sending a box 35 CD’s or a thumb drive full of MP3’s. They’ll never listen to in its entirety anyways. They might listen to the first two – you know it, I know it. I have had several coaching programs that I have purchased over the years from different people, and I haven’t even listened to the first CD yet. That’s going to be the way it is with most of your clients. You send them a box of 35 CD’s and they listen to the first one or two. That’s just the way it’s. Let’s imagine that you take that same set of 35 CD’s and instead of making a home study course, you were to just queue them off as lessons in a coaching program. They would get 1 MP3 every 10 days; that’s your course. Now find a way they can interact with you to move it into coaching.
When I first started coaching, all people got was email access. People like email access, in fact, I believe that they like email access more than they like telephone. Then the question is, “Well why ever give them telephone access?” Well, with telephone access you can take care of everyone in your coaching program in one hour per week. With email access, you have to get on there every day and see who emailed you and email them back. Telephone coaching access is for your benefit.