When you buy a product do you invest into the idea or the marketer?

22 replies
I recently posted on a thread concerning when a price for an information product becomes too dear and to me it wasn't about price as such but more about the marketer and investing into them rather than the product they're selling. I've included it below as I'd like to get Warriors other thoughts on this on what can be the determining factor for you.

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I think it's about as much about the product as the marketer behind it sometimes.
Personally, I believe that if you were the likes of Frank Kern, you could charge whatever you wanted for an information product and people would still buy it regardless because they are buying into the marketer more than anything in this example. Frank Kern's been there, he's done it and practically wrote the book so when he releases something people jump on it and so price usually doesn't factor into that kinda thing to those that can afford it.

However, price can play a part if you're looking a new marketer that's popped up. He or She might be selling the best thing since sliced bread and it could be amazing and only retailling at $297 or something like that but would you invest into the idea they were selling if you yourself couldn't invest the trust into the marketer behind it?
I don't think so...
Now, if that product was $17 it's a different story but you get where i'm coming from
#buy #idea #invest #marketer #product
  • Profile picture of the author Nickolie0990
    Well as Frank would say "people don't give a @&$&$ about him" they only care about themselves, I think the reason why people pay so much is because...

    A. He asked for it from the right type of people. (the already wealthy)

    B. He can bring a return much greater then what they invested.

    I can tell you I've never purchased a Frank Kern's product (and I have them all) because I want to make sure Franks bank account stayed full. I purchased them because I belived he could get me a result I was wanting
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    • Profile picture of the author Colin Theriot
      If you have $297 of value to provide, prove the value and ask the price you want to charge.

      The person you quoted is right in saying that the price you can charge is a function of the source of that info. The story of what it is, what it does, and how it came to be - all of those can increased perceived value.

      But if you are unknown to a particular audience, and you want to create a perception of you as a high-value provider, then you certainly don't want to come into that market with low prices.

      Selling your $297 product at $17 will not earn you trust. It will earn you a reputation as a discount seller. The people who buy from you will anchor that amount of value at that price.

      If you want the benefit of a pre-eminent selling persona, ala the one Kern has created for himself, then you don't sell low. You sell high. Always high. If your stuff costs a lot of money, people presume it's better than the cheaper stuff. And they never buy the cheaper stuff to check. Because why would they? They bought the expensive one to get the best.
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  • Profile picture of the author ebuyer123
    ]You asked: "When you buy a product do you invest into the idea or the marketer? "
    I really don't care about:

    - The markerter's name (e.g. John Smith / Buull Gates, ...)
    - His/her skin color (black / white / yellow / vanilla etc.)
    - Gender (male / female / shemale)
    - Ages (10 yrs / 99 yrs old)
    - Nationality
    - His/her experiences in I.M (3 mths / 20 yrs)
    - And many more...

    As long as the product can make me a good sum of legitimate money, you can count me in.

    Just my 2 cents.
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    • Profile picture of the author Colin Theriot
      Originally Posted by ebuyer123 View Post

      I really don't care about:

      - The markerter's name (e.g. John Smith / Buull Gates, ...)
      - His/her skin color (black / white / yellow / vanilla etc.)
      - Gender (male / female / shemale)
      - Ages (10 yrs / 99 yrs old)
      - Nationality
      - His/her experiences in I.M (3 mths / 20 yrs)
      - And many more...

      As long as the product can make me a good sum of legitimate money, you can count me in.

      Just my 2 cents.
      If someone is asking you for a $2000 product about building a $100,000 business, gender, nationality, and skin color may not matter. But age, experience and whether or not they have a known reputation would all factor into your buying decision. And if they don't, I'd like to talk to you about a $10,000 product I have that will help you live forever.
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      • Profile picture of the author ebuyer123
        Originally Posted by Colin Theriot View Post

        ... But age, experience and whether or not they have a known reputation would all factor into your buying decision. And if they don't, I'd like to talk to you about a $10,000 product I have that will help you live forever.
        You are quite right about age, experience and reputation in I.M, but I wish the 19-year-old Mark Zuckerberg had come to me in 2004 and asked me to buy his product (i.e. to join his company the fbook).
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        • Profile picture of the author rjvawter
          I'm pretty new on the IM scene, but it doesn't take long to start to know some of the names out there.
          I don't know Frank Kern, other than reputation and I can't afford his products at least not right now.
          But I can tell you I am much more likely to spend my money with someone whom I have heard of before and have had a chance to develop some respect for than some newbie who just arrived on the scene (like myself).
          I have come across quite a few good marketers that I would buy from (if it's something I need or want), and also lots that I wouldn't buy anything from.

          Just my 2 cents,
          Ralph
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        • Profile picture of the author CDarklock
          Originally Posted by ebuyer123 View Post

          I wish the 19-year-old Mark Zuckerberg had come to me in 2004 and asked me to buy his product
          Speaking as someone over 40...

          Whenever someone under 20 has an idea, it's probably garbage. Ignore it.

          Whenever someone under 20 has an actual product, it's probably gold. Buy it.

          Now go look up Caleb Spilchen's profile and buy every damn thing he has.
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  • Profile picture of the author Randall Magwood
    I invest in the idea. There are some people who will buy a product just become a famous guru created it. I don't subscribe to this theory. I want the information to be good and solid.
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    • Profile picture of the author Severin
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      Originally Posted by Randall Magwood View Post

      I invest in the idea. There are some people who will buy a product just become a famous guru created it. I don't subscribe to this theory. I want the information to be good and solid.
      Yeah, totally agree. Value of info first Always.
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  • Profile picture of the author akmal
    I just buy things that provide additional value to my existing plan. So I am definitely invest in the idea and not the marketer.

    However, any good marketer who provides real value to my past purchases will always be in my radar simply to model how they works. So, future recommendations from these marketers always get my intention first but at last it comes back to my initial statement to just invest things that provide value to my existing plan.
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  • Profile picture of the author blillard
    People pay for solutions, as long as you can provide that included with value no one really cares who you are. The WSO section is a prefect example, I see warriors hitting it big who I NEVER heard of before. So I wouldn't say a name has more to do with the price it just what you feel YOUR information is worth to you? and what you want to charge for it.
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  • Profile picture of the author JKflipflop
    Yes - the correct word is "Solutions". No doubt there are some people out there who find it increasingly relevant to get sucked into the talks of the experienced lot of marketers, but it is the fact that 'I want to learn this' or "This may help me do my job better' or "Maybe, this is the next big thing" - if any of these feelings comes to your head when you look at a product, you should analyze it in detail and then purchase it.
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  • Profile picture of the author Chri5123
    Interesting thread.

    I think it has to be BOTH - you must like the concept of the product and what it is claiming but you must also trust the marketer or at least feel that they know what they are talking about.

    However agree with you when you say that the "big names" carry a lot of clout.
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  • Profile picture of the author JimWaller
    I think both is the way to go.
    First product/concept, because if you don't need it why buy it?
    Second the name helps in making a decision if you've had a good experience with the marketer before.
    If you become a "raving fan" of a marketer, then you might seek out every one of their products to learn as much as possible from them. But, in general you buy what can help you.

    Jim
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  • Profile picture of the author Eduard Stinga
    It's easier to appreciate the value of a product from a well known marketer and you're usually right with this thing
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  • Profile picture of the author rooze
    Different people react in different ways to different offers.

    There are some tactics which are time-tested and proven to work, like 'fear'. (The #1 marketing strategy used by politicians).

    Some people need the security of buying from people with a reputation, I call this the 'herd mentality'.
    Then people buy when it reinforces their ego. Generally that means they'll buy into an idea when it's one they already subscribe to. They learn nothing new, just the same bollocks rehashed and worded a different way, but it makes them feel good about themselves because it supports their own theories.

    Few people buy radical, and that's where the good stuff is at. All of the big names you can think of sold radical. Jobs was obsessed with typography and aesthetic design and made his fortune selling 'cool'.

    If you're in the 'me too' club, like to have your ego stroked and generally follow the crowd, you'll always be playing second fiddle to someone who thinks, believes and subscribes to radical (as an adjective, not a noun).
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    • Profile picture of the author Colin Theriot
      Originally Posted by rooze View Post

      If you're in the 'me too' club, like to have your ego stroked and generally follow the crowd, you'll always be playing second fiddle to someone who thinks, believes and subscribes to radical (as an adjective, not a noun).
      Not everyone can be Steve Jobs. That's why there's only one of him and people kissed his ass his whole life. An orchestra doesn't have one fiddle. That's why there IS second fiddle. For any outlier, you can take what the innovator is doing and re-package to catch a subset of the new market that outlier created.

      Thinking that the only way to exceed is to be the "Steve Jobs" of your market is a sure way to fail. Unless you're already a genius, hard work will not turn you into one. But hard work at a proven plan WILL make you rich.
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      • Profile picture of the author rooze
        Originally Posted by Colin Theriot View Post

        Not everyone can be Steve Jobs. That's why there's only one of him and people kissed his ass his whole life. An orchestra doesn't have one fiddle. That's why there IS second fiddle. For any outlier, you can take what the innovator is doing and re-package to catch a subset of the new market that outlier created.

        Thinking that the only way to exceed is to be the "Steve Jobs" of your market is a sure way to fail. Unless you're already a genius, hard work will not turn you into one. But hard work at a proven plan WILL make you rich.
        We're talking about aspiring towards and taking advice from others, not pretending to be someone you're not.

        I'd sooner take advice (buy a learning product for example) from someone who's built their reputation around innovation and excellence, than someone who's spun some PLR and stuck a new label on it for a $9 WSO.
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        • Profile picture of the author Colin Theriot
          Originally Posted by rooze View Post

          I'd sooner take advice (buy a learning product for example) from someone who's built their reputation around innovation and excellence, than someone who's spun some PLR and stuck a new label on it for a $9 WSO.
          Consider that it is typically very difficult for someone who is an innate genius at what they do to teach it to other people. Most of the time, they aren't even interested in doing so. But it's VERY easy for a guy who is successful at selling PLR to teach other people how to do what he does. Because it doesn't start with - Step 1 - be a brilliant innovator. It starts with - Step 1 - find some PLR.

          In general though, I agree with you - people DO buy because of the reputation of the "voice" of the product. I think they buy because of that MORE than anything to do with the actual product.

          As a copywriter, I spend MORE time developing the customer avatar and the selling persona and how those two relate to each other than I ever do on the "product" part of the letter.

          If you're selling the "product" on its own merits, you're going to do a lot less well than you can do if you're selling the reputation of the voice, the potential ROI, and the promise of future positive emotions to replace the ones that dwell around their current, problem-state.
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          • Profile picture of the author rooze
            Originally Posted by Colin Theriot View Post

            Consider that it is typically very difficult for someone who is an innate genius at what they do to teach it to other people. Most of the time, they aren't even interested in doing so. But it's VERY easy for a guy who is successful at selling PLR to teach other people how to do what he does. Because it doesn't start with - Step 1 - be a brilliant innovator. It starts with - Step 1 - find some PLR.

            In general though, I agree with you - people DO buy because of the reputation of the "voice" of the product. I think they buy because of that MORE than anything to do with the actual product.

            As a copywriter, I spend MORE time developing the customer avatar and the selling persona and how those two relate to each other than I ever do on the "product" part of the letter.

            If you're selling the "product" on its own merits, you're going to do a lot less well than you can do if you're selling the reputation of the voice, the potential ROI, and the promise of future positive emotions to replace the ones that dwell around their current, problem-state.

            I suppose there are many variations of what the OP terms an 'information product'. Sure, if I want to learn how to use a piece of new software then I can buy an eBook and it doesn't need to be written by a budding genius for me to get value for money.

            But what I based my first comment on was this part from the OP "...more about the marketer and investing into them".

            So my point is that people often tend to buy from people with very similar ideas to themselves. They pay to have their own theories reinforced by another person, and they consider it to be value for money. I don't do this. I look for people who have achieved much greater success than I have by being innovators. There are many of them at many different levels. And I don't always measure success by how much money they're worth.

            So yeah, invest in the person but make sure it's the right type of person.
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            • Profile picture of the author CDarklock
              Originally Posted by rooze View Post

              So my point is that people often tend to buy from people with very similar ideas to themselves.
              Most people's perception of others' intelligence is driven by how often those others agree with them.

              For example, you're obviously really smart. :p

              If you have something honestly new and innovative to teach people, you're going to have a hard time finding people to teach, because nobody likes new and innovative. They like comfortable and familiar.

              Which is ironic, because intelligence comes from experience, which in turn comes from the uncomfortable and unfamiliar.

              So, in other words, people like to be stupid and will actively try to stay that way.
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