Which of these 2 choices would you choose?

10 replies
2 1/2 years ago, I started creating a "product". I have consistently added more and more content to this product ever since I released it. The contents of this product are about 6 times larger then when it was initially released. I have always charged a one-time fee to access this product, and I have found to have a lot of success that way.

However, I have always felt like I was WAY undercharging for this product. I keep adding content to it, and there's no opportunity for repeat business from the customers who buy this product.

Simply slapping a higher price tag on the product has proven to result in less sales and less monthly income. Also, experimenting with recurring pricing has also resulted in less sales as well.

I have found the most success with selling this product for the low one-time fee of $59. Customers like this, but again, I don't feel that it is a good long-term business model.

There is one thing that I have not tried to do yet, and that is to break this one product up into several smaller products, each of which I would charge between $59 and $99 for.

I have been working for the last 2 weeks on creating sales pages and nicely packaging up individual products. I now have 6 "products" in total. I have not yet initiated this change yet though.

I have never yet used paid traffic methods, but I currently make about $2K per month on just this one single product. Ideally, I want to start using paid advertising, but I want to ensure that my website is set up in the most profitable way possible before doing so.

If you were in my position, which path would you choose:

1.) Do not change anything. Keep the one single product that I have which sells for $59, which produces $2K per month on average. Scale the business up by using paid traffic methods.

2.) Proceed with breaking the one product up into 6 separate products, each of which have a pricetag that falls between $59 and $99. Test this for at least 3 months, risking the possibility that I may have 3 low-income months as a result.

PS - I apologize if I sound like a broken record on here. I keep asking for advice on what to do to expand my business, but I haven't yet found a solution that works as well as just keeping it simple...one single product that has a low pricetag on it. Although it seems to be "working", it still does not feel like a stable long-term solution though. That's why I have to keep trying.

#choices #choose
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  • Profile picture of the author SARubin
    I'm not sure why you're limiting yourself to only 2 choices? So I'm just going to offer a 3rd choice that you may want to consider...

    If you're making 2k per month from your site, can you afford to simply buy another domain name... put up a quick sales page (or small website) with your 6 piece offer... and send paid traffic to that site (without touching your money site)?

    If you don't have the time, or the desire to build the new site yourself, you could easily outsource something like that for cheap. Overall it should cost you less than $100 (plus your ad spend) to be up and running.

    Since every time you change something with your current offer your sales go down, this would be a way to test your idea without effecting your current site, and its visitors.

    This is similar to what I've done in the past for testing purposes.

    Of course it's your money, and I don't know any details about your current customer base or marketing strategies. So only you can decide if you're willing to invest your time and money in this manner. But something along these lines could solve your current dilemma.

    SARubin - Direct Response Copywriter / Conversion Flow Specialist
    Coming Soon - Copywriters Community - Forums, articles, training courses, and more...

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  • Profile picture of the author Bkelly301
    That is a really good idea. Thanks for the suggestion!

    I could easily whip up another site which I use to send paid traffic to, but my main concern is that people could easily find out about the other site. My "product" is simply access to thousands of pages protected behind a membership wall. I do have all of the videos saved on a hard drive, so I could re-upload everything to another website, but again what if those who purchased from the "new site" found out that all of the same stuff exists elsewhere for much cheaper?

    That is my main concern with that idea.
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  • Profile picture of the author Janice Sperry
    I like the idea of a new test site to do some A/B testing.

    Of your 2 choices, I like some version of number 2.

    Since you have been continually adding content to an already valuable and popular product, it is obviously worth more than the original price. It is hard to say without knowing the product but 6 separate products may be too many choices. Then again, if each separate product can stand on its own it could work fine.

    For sure you want to consider a reduced price to buy them all bundled together.

    I wouldn't worry about the rare chance that someone discovers you have been previously selling it cheaper. Prices increase over time on good products. They missed out but still are getting their money's worth. You could always give them a rebate or something if it bothered you.
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  • BKelly301,

    I'm more inclined to do the following:

    1. Sell other products to existing buyers (and freebie takers if you have them in your mailing list). A combination of my own new products and affiliate products;
    2. Create a Youtube channel (since you mentioned videos are most of your paid content). Post brief videos there with content that nicely supplements the value of my own products and affiliate products. Send existing buyerss, freebie takers and viewers to that channel. Compel them to subscribe. Earn ad revenues as a new income stream; and
    3. Offer priority email and chat support (or also phone if you want) to existing buyers in my Patreon portal. Charge a reasonable monthly subscription ...

    Simply put, I won't touch what's already working. I won't touch what's consistently giving me 2K USD per month on average. Instead:

    I'll try to supplement the value that they're already getting from me. I'll try to discover new income streams from the same traffic ...

    Hire Us to Get More Targeted Traffic & Sales in Tech, Business & Digital Marketing Niches — Text Chat with Me in Skype HERE
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  • Profile picture of the author Medon
    Indeed, you are between a rock and a hard surface. Developing another website may not be the best thing at the moment. Customers who bought the product at a higher price may not be happy when they discover that you are selling the same product elsewhere cheaply. According to me, instead of making additions, why can't you convert the additions into a different product and try to brand it?
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    • Profile picture of the author Bkelly301
      Originally Posted by Medon View Post

      Indeed, you are between a rock and a hard surface. Developing another website may not be the best thing at the moment. Customers who bought the product at a higher price may not be happy when they discover that you are selling the same product elsewhere cheaply. According to me, instead of making additions, why can't you convert the additions into a different product and try to brand it?
      The problem is that I have been offering 2 memberships:

      1.) Free membership
      2.) Full Access membership

      The "full access membership" originally started out as just one single "course" almost 3 years ago. I noticed that as I continued to add more and more stuff that came with the course, my sales were steadily increasing.

      As of this past January, I stopped calling it a "course" and began calling it "full access membership" which includes everything on the entire site plus anything that I ever were to add to the site....all for just a one time fee. Doing this caused a massive boost in sales, because it quickly became apparent that they were getting A LOT of value for the one-time fee.

      Unfortunately, this prevents me from getting repeat business from those customers. I can't tell them that I'm giving them "full access" to everything, but then try to sell them additional courses that aren't part of the "full access".

      That is why I need to switch my "product" into several individual courses. This way if someone buys a course, I can still sell them other courses later on.

      But as you mentioned, which is exactly what the OP is about:

      1.) Do I simply keep what's working - "Don't fix it it if it ain't broke"?

      2.) Do I initiate this change because it seems like a much better long-term business strategy?

      I'm definitely leaning much more towards #2, but I'm still nervous to lose what has been working.
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  • Profile picture of the author Medon
    Also, if I were you I would want to find out why there is no repeated buying. Unfortunately, I can't suggest what you can do to make previous users want to buy it again? What can you do to make buyers demand the improved product? Do they know that you have updated the product?
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  • I understand your concern. Any drastic change could damage your relationship with current customers. I understand that adding content boosts sales. But to get repeat clients, maybe there's a way to tweak your business model and add services to your products as well. This can be supplementary services to the products you are already selling. That way, you're clients are still getting the value they expect from a full access membership.
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  • There may be something that you are missing because you don't know what you don't know. In addition to being a freelance copywriter, I am also a brain dialog researcher and an alternative medicine stress relief coach. After working with thousands of stress relief clients including people in coma and stress recovery, I have learned that even people in coma can hear everything that's going on IN THEIR OWN UNIQUE WAY. I capitalized IN THEIR OWN UNIQUE WAY because this may be the part you are missing.

    When it comes to marketing, we are providing an experience to our prospects/customers with our copy. By writing copy using SEO formatted mechanics/principles, we are speaking a private logic to market segments. I discovered this phenomenon when working with my first TBI (Traumatic Brain Injury) client. (I don't do anything medical but instead focus on saying things differently to a client until I notice movement for him or her that improves quality of life.)

    Applying what I've learned by working with TBI clients to marketing, this means that you may currently be talking in your marketing copy to a SEGMENT of your market. It is because the "solution" approach you are currently using appeals only to that one segment. For this reason, I ask if you have tried changing the copy in your testing. If you have not yet done this, I recommend that if you are going to publish a new mini site for testing that you change the approach in your copy on that site for that segment.

    For example, it sounds like your membership is all digital/intellectual property product. Many of us sell digital product, myself included. (I've written 50 books. I LOVE to write!) In addition to being a stress relief coach, I am also a writing coach specializing in working with beginning copywriters. So, if I were to offer a book to relieve stress in female copywriters, the copy to sell the book, ecourse, membership site would first be to know what really matters to female copywriters compared with male copywriters. Women buy/believe an idea for different reasons than do males. It's actually the way the brain is designed.

    One sales approach for women copywriters would be to talk about how developing her copywriting skill would ultimately help her family. She would be developing her abilities and get a sense of purpose. Writing for businesses who are looking to help others is very meaningful. So, I would write about feeling like she is doing something meaningful in the world. So, that would be one market segment. However, I would also write to other market segments of women copywriters.

    Perhaps another segment would be to show her children that women can be mothers and copywriters. This model would show that everyone must contribute to making the world a better place by helping people discover things that make their lives better. See how the sales letter approach is different? It is necessary to know what really matters to your target audience which is actually segmented. Let me go further.

    By the way, the first approach appeals to the lower right brain, the happy, genuine relationship segment of the brain. The second approach appeals to the upper right brain, the appreciation-seeking part of the brain. We all like to feel appreciated for our contributions, right? Well, in marketing a product/service, that appeals to those who LOVE to be the center of attention and get credit for their creativity and sharing it with the world.

    So, going to the upper left brain, this marketing segment is all about accuracy and perfection. This is the part of the brain that are computer nerds and all about details. It is the part of the brain we use to critically analyze, theorize and be RIGHT. So, I would write copy that appeals to learning how to specifically and exactly bring light to the world of beauty who are always interested in looking perfect (like brides on their wedding day or models, or those who sell beauty items.)

    Last, but not least, I would write an approach that appeals to the lower left brain, the brain part that thinks in words, is the boss, is orderly, that plans. This market would be to the woman copywriter who writes for the corporate market or a market that requires efficiency. It could be to the medical or health field.

    So, right there, I need to write at least 4 approaches because all these beginning copywriters are definitely in these 4 market segments. It is a brain thing and when you work with this knowledge that many copywriters just have no clue about, you can test and see which market segment really is the one most interested in my coaching services (both writing and stress relief).

    Whatever your content is that your selling, I encourage you to test the market segments. Additionally, another reason you may be stuck in the dreaded "one and done" cycle is that you are not addressing current and future problems your solution "fixes." If your market doesn't have an endless list of problems to solve, this also contributes to your "stuckedness." Find a market that has endless problems your solutions can fix and that will help you in your situation.

    For example, people only need to know how to ride a bicycle once. Either you DO or you do NOT know how to develop this skill and then use it. You can only ride a bike one way - the way that prevents skinned knees and bumps on the head and elbows. BUT, what is ANOTHER problem related to riding bikes that can also require a different solution? How about a manual on learning how to pick the right bike for you? How do you know which manufacturer is a reliable manufacturer? Ah, you know the secret AND, in your bonuses, you've partnered with different people in the bicycle industry that get you discounts on bike equipment! See, affiliates!

    Lots of options as I see it. Your thoughts?
    Astounding Writing Coach
    Why do personal development, self-help, natural wellness and hypnosis small business owners regularly hire me for my engaging, intuitive, creative content writing skills? Because that's what I passionately do best.
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  • Profile picture of the author MaxFeerden
    If sales have decreased, your product may not be needed for reuse. If you add content to it, make an update for a fee.
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