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Maybe I'm completely out to lunch???

by aceshigh888
4 replies
I need to get your feedback on something....

I just launch a real estate investment course I'm selling. Currently a sales letter format. It's a physical course about 1200 pages long, in 2 coil bound binders.

I have it priced at 997.

I'd ship off to buyers as I offer a 30 day money back guarantee so I reasoned that at a higher price I'd get less returns. I was originally thinking that at a higher price it might add some exclusivity to the product.

I talked to my friend....

He said I have this all backward. He said I should price it at about 197. Then use the course to try and upsell them onto a bigger course. That is starting to look like a better option.

So I figure this is the smartest crowd to run this concept by to find out from the best....

What would you do?
#completely #lunch
  • Profile picture of the author 512 Designs
    Does anyone in the real estate industry know who you are? Basically do you have a track record of knowing what you're talking about (done speeches, been on the radio, TV, etc.) ?

    It may be tough to get almost $1000 from someone even though your course is massive if nobody knows you well enough yet. (Getting a $1000 course written by someone like Zig Zigglar wouldn't be unreasonable because he's well known).

    I think your friend has it right.....but you may want to give some free seminars and try to sell a portion of the course for $197 (or less) in the back of the room. Then start building a following that way to hit them up with the higher priced products. At that time, they'll trust you more.

    BTW, I'm a real estate agent myself.

    Mike

    P.S. If you are well known, then forget what I just said
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  • Profile picture of the author Sushiman1111
    If you've never done this before, the only way you're going to know for sure is to test it and see. Try selling the course for $997 this time around and see what happens. If you get a good response, great. If not, wait three or four months, take a part of it and sell it for $97 or $197 and then try to upsell the rest. See which one works better for you, and continue tweaking from there.
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    • Profile picture of the author AndrewCavanagh
      If you think it's worth $1,000 then starting by selling it
      at $1,000 is a great idea.

      You can always reduce the price later.

      Generally speaking once you get over $100 you start getting
      serious sales resistance and there may be little difference
      between the people who will buy at $200 and at $1,000.

      In other words by dropping the price to $200 you may just
      be cutting your income 5 fold.


      Your friend is right that you should also have a higher end
      program, mentoring, coaching or something like that that
      you can sell as a backend.

      But if the market can bear it you're better off selling a product
      at $1,000 and a mentoring system at $5,000 or more.


      In copywriting one of my most successful clients I had
      was a guy whose cheapest product is $400 (one DVD). The next
      cheapest is $1,000 (6 audio CDs) and then it goes up to
      $48,000, $95,000 and $185,000 a year (various mentoring
      deals).

      And when he speaks his cheapest offer is a $48,000 mentoring
      package (and at most of his talks he's picking up one or more
      clients so it's not hard to do the math).

      It's a whole lot easier to make money if you're charging a premium
      for a premium quality product or service.

      My suggestion would be test the high prices first and in your $1,000
      product have an offer for a years coaching and mentoring that you
      charge $5,000 or more for.


      One final point.

      One of the big reasons you get more success stories from the higher
      priced programs is that people who pay more tend to commit more
      to making a program work for them.

      How many $10 products have you bought that you've done nothing
      with?

      How many $1,000 products have you bought that you've done nothing
      with?


      Making your clients invest more helps them to commit more.

      You can actually be doing them a disservice by charging them less.

      Kindest regards,
      Andrew Cavanagh
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  • Profile picture of the author Searchlabmedia
    Testing the market is the only way to go. See if you can get a vendor spot at one o your local real estate investors workshops, and see if you get any takers. But, I do like the $197 model and then upsell them on personal coaching.

    Dave
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