Which Is Easier Selling.. A $47 Product Or a $1997 Product?

Plus if you sell it in a forum, you get tire-kickers asking dumb questions like "How many pages it it?"

...as if the number of pages equates to the value!

Aim higher because while you get fewer sales you make more money.

I'm not so much talking about the type of product as much as the effort you may need to put into promoting the two different price spreads. Of course with that much of a price difference the higher dollar item would have to have a greater perceived value or you'll never sell it anyway.

I'm starting to think it would be better to write a very high quality review of a higher dollar offer targeting converting keywords to try to get a few sales versus writing tons of articles on long tailed keywords for the lower priced products we all see everyday being pitched to us.

TedK

Dana, you are very right in creating high ticket item firstly. But the question concerned the selling as I took it from Ted's post.

Anna also are right in her niche and audience.

I think that standing close to the reality what Jeff, Derrick and Loren said about the topic. In my experience it depends on the niche, what's the demand of your audience, how you positioned your product, how high is the perceived value of your product, conversion of sales letter and your follow up.

If you've good relationship with your audience then you can sell everything.

It is needed for this in order for you to fish where the fish are of course.

YES INDEED Scott ~!

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Are there niches where selling high priced programs don't work ?

NO

Its about what part of the niche you are looking at, while some may never pay more than $47 for a course, Some people will never look at a course that is less than $5000.

That's one reason I carefully use the word Programs, and not Products.

You can go to walmart or other discount retailer and buy a dog collar for a few bucks, and many do.

You can also find dog collars that START at $1500 each, and you have to buy 10 to get that price.

Yes Dog Collars.

Its all about matching the needs and desires of your clients, and selecting the clients that are looking in the $2000 price range (if in your mind you say that is a high price range, Great you've found a limitation in your belief system that is regulating what you can offer)

With the right focus and understanding of YOUR market, price is only one small factor, and Yes truly it isn't the biggest factor in selling high priced programs.

Just like is discussed in many of the threads dealing with selling online services to brick and mortar companies.

One simple change when applied to thousands of transactions make a huge difference.

The same change to only a few transactions, the change is almost undetectable.

Whats the difference?

Its finding and applying your products, services and programs to those groups that will benefit most from what you offer.

Find the Right Value Relationship for your programs, and the price suddenly becomes a non-issue.

Mark

A higher priced product may be easier to sell because of the mentality of the buyer. A higher percentage of buyers at the $1997 are willing to spend $1997 because (a) they have the money, (b) believe that you have to spend money to make money and (c) they have confidence the product will provide sufficient value or that they will be able to use the product to recoup that $1997 and then some.

With a less expensive product, a higher percentage of the $47 buyers will be people that (a) have just enough credit left on their credit card to buy a $47 product, (b) have been told you need to spend money to make money and (c) think they will get rich off the product before their credit card bill is due.

Plus, there is a lot more competition in the $47 range, so there are many more products for the $47 to choose from, buy and not use.

The important thing is that your $1997 really be worth $1997. Actually, its minimum value should be $1997! You still want to buyer to feel that they ripped you off.

The other thing is that, if the $1997 buyer is satisfied with the purchase, and it works out for him, he will brag to others about the program, knowing that most people he tells will not try it for themselves, because they don't see how anybody can make big bucks on the Internet. But, someone will be listening and, boom!, you've got another sale.

On the flip side, the $47 buyer will likely not put the effort into the program you described for him step-by-step. Then, he'll tell ten people your product "sucks." Or, if he does use the program, and is successful with it, he won't want to tell his friends because he doesn't want them stepping into his cash field. Either way, you're not getting a tell-a-friend sale out of him.

Of course, none of that is to say that there aren't stupid people that will spend $1997 on anything, and that there aren't hard-working people that will take that $47 product and use it to create their own private gold mine. But, when you're talking about trends, I think that the trend is that a lower priced product is going to have more "get rich quick" buyers and a higher priced product is going to attract more "get richer" buyers.

And, for non-money making products, I still think similar mentalities will still take place. Can you sell a $1997 weight loss product? Why not? There are plenty of people that buy $47 weight loss eBooks, and don't follow them, so it's not much different from IM. But, people that spend $1997 on a weight loss product are doing so because they need and intend to lose the weight. And, again, that $1997 product must have a minimum value of $1997!

People well-off financially and people struggling financially do tend to have different mentalities. Someone who is well-off is more willing to spend extra money to save time. Someone who isn't as well off will drive twenty minutes out of their way to save twenty-five cents on a gallon of milk.

The most valuable thing we have, and the thing we can never get back, is time. If you have the money, you will spend it to save time. If you don't have the money, you're willing to spend more of your time getting some or saving some.

If you can create a high-priced product that provides more value than its price and saves its buyer time, you've got a potential winner on your hands.

Simple solution: next webinar, just add $1970 to the price. I mean seriously, man, what were you thinking?

You're welcome.