With Internet marketing depending on what products you sell, you still need them at differing levels within your sales funnel. So, how exactly do you create a $47 product and why?
In the information product world, some of the typical sales levels are: free, $10, $47, $97, $197, $497, $997 and above. In previous articles I discussed how to create a giveaway and a $10 product and the importance of them in your sales funnel.
Once you have your $10 product, then you need to create a $47 product. Why $47 and $50? In pricing on numbers sell better than even numbered priced product. There are also specific numbers that sell better such as products that end in a 5, 7 or 9.
Now, the primary buyer of your $47 product will be people who have already bought your $10 product and are still on your list.
You see, some people will not like your $10 product. But since it is only $10, most will not ask for a refund – they will just quietly unsubscribe from your list. The $10 informational product is like a qualifying purchase. If they like you after that product, they are basically lifetime customers.
So two things here:
1) Your new product must be geared to the needs of your $10 customers.
2) Your new product, although it should contain DEEPER information than the $10, does not need to be incredibly long.
In fact, it can be the same length as the $10, as long as the information in it is considerably more in depth. Personally, I would double the pages on the second product compared to the first one, but it is all relative. To add more value, maybe you create a CD that is part of the $47 product. Or maybe you create a DVD or video. So now it is not as easy to compare with the $10 product. Just remember, the people who buy at $47 like you MORE than the average person that bought your $10 product. They already like your style.
All of that said, as soon as you have finished your $10 product, start writing your $47 info product. You might find that the second product, although longer and more in depth, may only take you the same amount of time to produce, if not less.
If you are out to attract prospective customers and develop your online presence and exposure, you owe it to yourself and the financial future of your business to learn everything you can about Internet marketing.
Want to learn more Internet marketing techniques on how to build a successful businesses online?
If so, read about and download my brand new free eBook 27 Habits of Internet Marketing Super Stars.
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