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Put Yourself In My Shoes (Unless Your Feet Smell)

by Ross Cohen
20 replies
In the coming months I'm putting together several WSO "guides". My plan is for them to be something along the lines of: 25 Tips To Optimize "this & that". You know... tips that are able to be implemented in people's campaigns (list building, product review site optimizing, that sort of stuff). Several paragraphs per tip going in-depth and explaining the need-to-know. Stuff that works... increases conversions... and so on. Valuable information that I've grown to realize first-hand and by no means obvious or rehashed facts.

But!

I want to accomplish 2 things.

1) Grow my list of buyers. Helping others, especially beginners, has grown into a passion of mine. I don't plan to be a "free help" fund as I need a roof over my head too, but I certainly don't let questions asked via email go unanswered. I want to be able to have these contacts to grow conversations with and inform when I release new products (however irregularly that may be).

2) I also want to sell the copies for a small sum to compensate for WSO costs & to find buyers, not only freebie-seekers.

If you were me, what would your price point be?

Remember there has to be a medium. My main goal is to not lose people because it's too much. I'd rather have them on board than anything.
#feet #put #shoes #smell
  • Profile picture of the author ryanmilligan
    Banned
    I would just price it at like $0.99.

    That way it will seperate the freebie seekers from the people who are actually willing to whip the credit card out and make the purchase.

    Once the buyers are on your list then you can slowly sector all their ability to buy (cost wise), You can find out all the buyers maximum price point when they are purchasing.
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  • Profile picture of the author Ross Cohen
    That's what I was thinking - $1. Thanks for your input!
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    • Profile picture of the author Tina Golden
      $1 buyers are not much above freebie-seekers, guys. And a buck won't go far in defraying costs, let alone getting a bit of profit.

      Remember, if you price too low, people very often won't value the product. You even lose sales this way as people don't want to buy a 'junk dollar store' item.

      I would try for products in the $5-7 range if you want to stick to the low end.

      This is just my opinion and of course, it would be smart to test it.
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      • Profile picture of the author MissTerraK
        I agree with Tina, but I'll also add that I won't purchase anything online for one dollar simply because I don't want to use my card whether it be debit or credit or PayPal for a measly dollar.

        Terra
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      • Profile picture of the author ryanmilligan
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        Originally Posted by Tina Golden View Post

        $1 buyers are not much above freebie-seekers, guys. And a buck won't go far in defraying costs, let alone getting a bit of profit.

        Remember, if you price too low, people very often won't value the product. You even lose sales this way as people don't want to buy a 'junk dollar store' item.

        I would try for products in the $5-7 range if you want to stick to the low end.

        This is just my opinion and of course, it would be smart to test it.
        Testing is quite a good idea. Somebody could make a lot of money with a case-study type WSO on pricing points.

        I would put it on my to-do list, but I have just enough on my plate at the moment.
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      • Profile picture of the author Brian Tayler
        Originally Posted by Tina Golden View Post

        $1 buyers are not much above freebie-seekers, guys. And a buck won't go far in defraying costs, let alone getting a bit of profit.

        Remember, if you price too low, people very often won't value the product. You even lose sales this way as people don't want to buy a 'junk dollar store' item.

        I would try for products in the $5-7 range if you want to stick to the low end.

        This is just my opinion and of course, it would be smart to test it.
        Defiantly test. Only your customers can tell you the appropriate price point.
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  • Profile picture of the author mlord10
    I'd probably go just under the $5 mark...maybe in the $4.97 range.
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  • Profile picture of the author Ross Cohen
    Thanks Tina & all. I see your points. And sorry Joe... no shoes for you!!

    I feel like I'll be missing out on many potential future customers pricing at $5, though I do know that the information will help the individual to a greater extent than a $5 bill would. Hum dee dum.
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    • Profile picture of the author tayuyaa
      Originally Posted by Ross Cohen View Post

      Thanks Tina & all. I see your points. And sorry Joe... no shoes for you!!

      I feel like I'll be missing out on many potential future customers pricing at $5, though I do know that the information will help the individual to a greater extent than a $5 bill would. Hum dee dum.
      Even if your intentions are praiseworthy, you can not sell to everyone... it's impossible lol.

      WSO's on this forum often sell for $4-10.

      And if you price your product at $1 no-one will help you promote your
      product and you will make very few sales....
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  • Profile picture of the author William7ggg
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    • Profile picture of the author misswahm
      As a new person to IM, I can say that I would would gladly pay $5 for that kind of information.
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      • Profile picture of the author Sandor Verebi
        Hi Ross,

        Your post include the answer to your questions. What I mean?

        If you publish "in-depth", "explaining the need-to-know", "Stuff that works... increases conversions and so on" information and the quality is high, then you must to ask its price. Otherwise people do not appreciate your job.

        Re 1) I see, that you want to increase the list of your subscribers to the extent as possible. But I think you agree, that list is more useful that has less in number, but is more suspectible for what you say to them, appreciate your work and want to buy from you again, if you give quality.

        Conclusion: if I were you, I'd sell the material at $7. Rest assured, this way freebie-seekers will shun you. Benefits: only those will buy it, who you later can rely on; you will deal with less refund; you will get some money you can use to increase the value of your product.

        Customers will thank you for caring.

        All the best,

        Sandor
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  • Profile picture of the author peewhy
    If the shoes are the OTO then I'm in.

    I find it refreshing to see WSOs with no OTO, in fact I'm begining to hate them!

    With that in mind I'd rather see a pizza priced WSO with some value added bonuses and no OTO - a genuine pay this $X and get all this with no trip wire.
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  • Profile picture of the author Ross Cohen
    You guys and gals need to stop giving me so many excellent suggestions and such wonderful insight. Making me think too much.
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    • Profile picture of the author Sandor Verebi
      Originally Posted by Ross Cohen View Post

      You guys and gals need to stop giving me so many excellent suggestions and such wonderful insight. Making me think too much.
      Ross, one of the many characteristics of a successful entrepreneur, is that he doesn't stop to 'sharpen the saw' - in other words: he keeps his brain in training.

      Cheers,

      Sandor
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  • Profile picture of the author brunom
    Split testing is your best choice, but I'd say something at $2.95 would be good for your needs.
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  • Profile picture of the author Dan Riffle
    Just tossing out an idea here: Since you're planning several guides, why not do the first one as a dime sale to see where the price point drops off in terms of sales? It could help you set a better point for your next projects.
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  • Profile picture of the author honestim
    Originally Posted by Ross Cohen View Post

    In the coming months I'm putting together several WSO "guides". My plan is for them to be something along the lines of: 25 Tips To Optimize "this & that". You know... tips that are able to be implemented in people's campaigns (list building, product review site optimizing, that sort of stuff). Several paragraphs per tip going in-depth and explaining the need-to-know. Stuff that works... increases conversions... and so on. Valuable information that I've grown to realize first-hand and by no means obvious or rehashed facts.
    Fantastic idea Ross! If you can bring value to your customers' business you will have them in your customer list way longer than you can think of.

    Originally Posted by Ross Cohen View Post

    But!

    I want to accomplish 2 things.

    1) Grow my list of buyers. Helping others, especially beginners, has grown into a passion of mine. I don't plan to be a "free help" fund as I need a roof over my head too, but I certainly don't let questions asked via email go unanswered. I want to be able to have these contacts to grow conversations with and inform when I release new products (however irregularly that may be).
    Free help in my opinion is not the best way of going about things. It will not help you because you are running a business that must sustain itself. As you rightly said you need to be comfortable enough to provide the help you are thinking of. Free help will not help most of your customers as we have a tendency of under valuing anything that comes free irrespective of how good or bad the product actually is. So I would recommend being paid for your services or product and at the same time make sure you over deliver when it comes to providing value.

    Originally Posted by Ross Cohen View Post

    2) I also want to sell the copies for a small sum to compensate for WSO costs & to find buyers, not only freebie-seekers.

    If you were me, what would your price point be?

    Remember there has to be a medium. My main goal is to not lose people because it's too much. I'd rather have them on board than anything.
    As most successful affiliates or product creators would tell you, a list of 1000 buyers is much better than a list of 100000 freebie seekers. Moreover maintaining a list of freebie seekers actually costs you money (ask aweber!). Pricing your product at $1 will neither change your life nor will it change the lives of your customers. Therefore please do attach the monetary value to your product that it seriously deserves, because otherwise people will not take the advice seriously and you will loose out the chance of making a difference to your customers' lives.

    I certainly do not agree with you when you say that increasing the price will reduce the number of subscribers.

    Look at it this way. Not many of the WSO sales are made through the listing as is. Most of the biggest launches are driven by affiliates who already have a very good rapport with their lists.

    So if you could launch a product at say $5 or $7 or for that matter at $9 and lets say for the first couple of your products you give away 100% of the sales to your affiliates you could generate an enormous number of buying customers for your WSO.

    The affiliates will be interested in promoting because they are getting a good $ value for every customer referred and they are referring a good product to their customers. Your customers benefit because they get a high quality product that over delivers on the promises made. You take a beating on the earnings side of it because all the commissions goes to affiliates. But then you have got a massive list that you can now promote your other products and the earnings can easily give you a comfortable living, let alone recouping the money spent on the WSO.

    Hope this helps you.

    Cheers
    HonestIM
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  • Profile picture of the author Ross Cohen
    Interesting. An influx of people agree that even if a product is amazing, pricing it low will make it not as valuable to them. Or in other words, make it perceived as less valuable. The affiliate part too I agree is of utmost importance.

    Wonderful reply HonestIM.

    Question! What about now that you can't promote a product's affiliate program within the WSO? How's that going to change the game?
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