What type of product would you pay $3,000 for?

Hey tyke,
No offense, but your request is way too vague. The only clue you gave me as to what topic you need a product for is that you mentioned Eben. Otherwise, I could only guess at what you want.
Be more specific about your niche, or sub-niche.
Then consider what the market WANTS, not needs, in that niche, and then you can do your research and find the exact product to fulfill their desires.
This isn't much, but I hope it gives you an idea where to start.

Robert

Approach is wrong.

You should be asking yourself what the market wants/needs. Then you should figure out how to give the market $10 worth of value and ask for $1 in return. (This is an example Eben Pagan often uses).

Chasing money ('I need to create a 3k product") is not going to work out for you.

-Simon

$3k for a product is high. I'll be probably looking at some software that is unique and get things done. Personally I think you'll need to have very targeted customers who have bought your products before. Otherwise no one is going jump in to buy a product when they have doubts on the seller or self-claimed coach.

High end Seo courses for business professionals, how to become a celebrity, how to get a best selling book, how to become a fitness trainer, Forex, day trading, real estate investing courses, how to get business credit, how to protect your assets / money, tax loopholes for the rich, Specialized how to courses that are job oriented - (how to become a medical transcriptionist, etc.

That should give you some ideas.

I used to be involved in investing and I got myself (through a combination of luck and perseverance) into a high-ticket venture capitalist group. These type of investors wouldn't think twice about laying $3K whereas they might not consider anything under $1K because their relative returns will be low.

What I did was showed them that in investing in certain parts of internet marketing, they can easily achieve their ROI targets and outsource it so they are still hands off.

It went down very well and now a good number of them have remarketed themselves from investors to internet marketers.

It's not so much about finding the product as finding the market.

Hi Tyke,

Look into yourself, your life experiences, your competencies, your failures, your success... It doesn't have to be in IM.

There is something in you that is worth $3,000... Just find it, share your story with the world, and offer something of value that will help people who will connect with your story.

You will find a buyer.

I agree with others, you're coming at this from the wrong direction. You need to have a great idea first, then develop it more and more and more, and eventually look at what price it is worth.

Hmm, 3k for a product... it would have to be something i could drive i think, or at least something I could profit like heck from right off the bat.

You're looking at this the wrong way i think, as mentioned. Nothing wrong with aiming high, though.

Can't think of any product I would be willing to part with $3K for. If it costs that much I would do a bit more research and see if there are comparable and much cheaper options available.

Hey!

No offence intended! but surely you create a product... And then based on how useful and effective it is... Will determine how much its worth?

Good luck,

Craig

This was a challenge to a membership recently -- don't know if Tyke is a member of that group or not.

So it could be a matter of hitting that challenge.

@Jarrett - awesome list

Another way of looking at it is ... what HAVE people paid $3K for and what would motivate them to do so.

However, I think the some of the approaches presented in this thread are quite useful.

Live JoyFully!

Judy

I would pay 3K for a website that has made 300/month consistently for the past 12 months, with traffic and earnings reports over that period as well

It'd have to be offline, like in San fran or something.

A nice used car.

I can earn up to $5000 commissions on the product in my link So far $1000 is the highest I have earned, but top commissions are achievable if you can target the right market.

I wouldn't purchase an information product for $3k.

something with some type of promised results....

Not sure, that's a lot of dough

Tyke, as previously mentioned..

#1. You're asking the wrong questions to the wrong people.

Most people in the WF wouldn't spend $3k on a product. Because most people in the WF don't have $3k to spend. Money is tight for many folks here.. which is why $7 - $12 wso's appeal to them.

That's problem #1. so don't get dissuaded by people here who are chiming in saying they wouldn't spend $3k. If you want to do a high ticket product, they're not your market. So don't care what they have to say lol.

It'd be like you creating a shoot-em-up video game for xbox and asking what old ladies at the retirement thought about it. Of course they're going to hate. It's not for them. So brush your shoulders off.


#2. Who is Your Market?

As a few people mentioned earlier.. Pick a market. THAT is where you start.

Real Estate agents, business owners, real estate investors, day traders, architects, doctors, archaeologists, cosmetologists, college teachers, mechanics, pilots, entrepreneurs, gourmet chefs

THESE are markets. Pick 1.


#3. Do they Have Money to spend?

Yes. most people who are in the fields I mentioned earlier make pretty good money and are willing to invest it in furthering their education... If they don't have the money to spend, move on to another market. end of story.

My buddy Dr. Mike is out selling a $4,000 SEO software and he is CLEANING UP SHOP. he's making tons of sales.. And he was telling me he's got a high ticket coaching program where he's getting paid like $5,000 per month PER person.. and he literally does like 1 call a month with some of these guys..

Would I shell out $4k for his software and $60k/yr to do a few phone calls with him.. maybe not. but does he care? no. because I'm not his market. He's pitching that stuff to doctors.

They make great money and are looking for a way out.. and don't mind spending the cash.. I mean think about it. All of them spent what? $100k+ just for schooling to become a doctor. So they are willing to spend money on their education. They see the value in it.


#4. What high paid stuff are they already buying?

Are they spending $3,000+ on any informational products already? Are they spending top dollar to go to live events? Are they spending alot of money on softwre? If yes, find out what sorts of stuff is already selling (as Judy mentioned). If you find out that there's a course that teaches real estate agents how to get more clients and it's selling for $2997 and selling alot of copies...

Why not start there? Model it. get ideas. then improve it and make it better?

#5. You Are NOT Your Customer. Stop thinking you are.

You said this:

"I can't think of anything much I'd be willing to pay that for, let alone anybody else."

Don't make the course for you. Make it for THEM.

This is a HUGE mistake that I see people making over and over again. They make their product based on stuff that they like.. things that they want to learn.. add in features that they think are cool.. instead of focusing on what the market wants.

If I made a course for me.. I'd make it on really advanced conversion tactics, improving funnels, or copywriting.. because that's stuff I'm interested in. but guess what? If I did, I would FAIL.

because other people could care less about that stuff. Most people are looking for a way to get rich quick as easy as possible.. and all that stuff sounds like work.

Just because you haven't bought a course for $3k.. doesn't mean anything.
Start researching markets.. and find out what kind of high price courses those people are buying right now..

There are TONS of stuff out there.. sounds like you really haven't spent any time digging into it.

A $3k course could simply be a $1997 course with 1 upsell.

Would I spend $3k on a course? if the course was good and something I was interested in.. I'd do it in a heartbeat.

I've bought a ton of higher priced courses over $3k over the years. I don't mind spending money on it.. because they make me money. and if I can learn one or two cool tricks to help improve my business, it's worth it for me.

And I'm just 1 person bro. There's tons of guys out there who are worse than me (like my friend Chris) haha.

Here's some more ideas:

Jeff Walker - Product Launch Formula - $1997
Jeff Walker - Product Launch Manager - $$5k+
Andy Jenkins - Video Boss - $1997
Brendon Burchard - Experts Academy - $2k - $5k (live events / masterminds.. could easily cost you $10k+)
Carlos & Lupe - Traffic University (media buying) - $6k (sold for $6k few years ago, I believe)
Steve Harrison - How to become a bestseller - $10k (when he opened it, I believe it was $10k)
Rich Schefren - Strategic Profits (he sells all kind of stuff for $3k+)

Jarrett long time no see . Anywho, are you talking about Dr. Mike Woo-Ming?

If it can make me $3,500 then it's a "steal" at $3,000.

Whenever you can exchange $10 bills for $100 bills, you'll have a queue of buyers lining up.

The harder question is what can you deliver that's 10x more value than the price you ask.

That depends upon YOUR unique skills - and your MARKET's unique problems/desires.

Hope this helps.

All success
Dr.Mani

I would pay $3000 for a product if the product can help me increase my revenues by at least $5000/yr.

I need to see the $3000 as an investment rather than an expense to be ready to pay that much.

Create yourself a bad ass, ridiculously profitable business model, action it and then sell franchises for 3k a pop.

If it your model makes a proven 1k+ a month and is easy enough to set up then 3k is under selling the opportunity to own one of your franchises.

I'm currently working on recreating my business in a box for people to buy at a franchise opportunity show. For £5,000 they buyer gets to use my business name, I create them a sub domain on my server, website template, business card template, contracts, product explanations, business model, training pack on how to train people to sell the products, phone scripts, email templates etc etc you get the idea.

Only way anyone would pay that much for a product would be if it were something extremely lucrative and highly personalized towards their needs, like coaching.

None! I would pay $3,000 for a good small used car. I might even pay for a world cruise for me and my husband. $3,000 can also cover tuition at a college...but i would never, repeat never, blow $3,000 on a Internet marketing seminar. I get a kick of those who sell their Internet marketing weekend seminars using the headlines "100 people paid me $4,997 dollars to attend my super secret seminar, but I'll will let you have it for $19.99." I know I would be pissed if someone who made me pay $4,997 eventually offered it a 20 bucks.