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Creating video product has no downsides?

by svedski
9 replies
So I'm creating my product..I'll have both audio and text. My thinking was now..to add powerpoint video for everything as well. If I do so...the percieved value should go up, I suppose.

My original product was going to be sold for 97...
If I add video..do you think I can sell it for a higher price? (maybe 300-500?)

But lets say nobody buys at 500...and I drop the price back to 97, will the videos be a downside? (making it be percieved as low-quality since they get EVERYTHING for just 97 bucks).

To give you an example..say "Think And Grow Rich" was released with audio and video instead of just the book. If they'd sell that for $10...would anyone percieve it as valuable, or would they dismiss it on the thought that: If it only cost 10 bucks for video, audio AND text..it must be garbage (obviously, think and grow rich is a famous book so it wasn't a great example (people could read reviews)
#creating #downsides #product #video
  • Profile picture of the author Matthew Anton
    hi stolpioni,

    The majority of people love video and audio. This is evident by book series becoming movies, and then becoming mega smash hits.

    Not all products need/require audio and video segments. It depends on your niche and what you are actually providing. If the video and audio complement the text, then it is valuable. If the video/audio reiterates the text it is not as valuable, but could be preferred by those that don't want to be bothered reading. You can either read a newspaper, or watch/listen to the news.

    Since you should always go after the lowest common denominator in your market, video/audio products are a safe way to add value and engagement in your product (I would rather watch Game of Thrones than read the series, and many are the same way, although something is usually lost to the video viewer).

    The perceived value of the information will not change because of video/audio, but it will help convert more sales. If I wanted a solution to how to cure "X" for example I wouldn't pay more for a video answer than text, as long as my answer was resolved, but given the video option it would make me lean towards it.

    Hardly any downsides, and many upsides, but the information won't exponetially increase in value, from $97 - $500 just because your soothing voice is explaining it
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  • Profile picture of the author Romeo90
    Video is major part of someones buying decisions.

    I advertise on a niche forum.

    My eBook sells at £17
    My eBook with associated video course sells at £67

    Both eBooks have the same content (with the higher priced version having an extra 50 pages also).

    People generally prefer the £67 course because it gives them video. In fact, people have bought the £17 eBook, and then asked to upgrade to the video course. Now I offer it as an upsell.

    Maybe you could do the same? Lower price for the audio and text segment, then a 'hey, if you would also like video with your course, you can grab it here for just $x extra'.
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  • Profile picture of the author bwh1
    Let your audience choose.

    Offer the audio/ebook as the main product and then lead them to an OTO offering the videos for an extra $xx

    If that doesn't work and nobody is buying the videos you can change and add them as a BONUS to the main product, making that one more valuable.

    My 2 cts

    G.
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    • Profile picture of the author harrydog
      Personally I think Video is definitely the way to go. You will make more sales and most people like to learn by Video and associated text such as work books etc.

      I also think (though I may be wrong just my opinion) that Video does raise the perceived value of a product quite a lot but jumping from $97 to $400 or $500 is a massive hike and the option of Video alone would not justify that kind of price rise and may lose you sales.

      As someone else has said have both options with as sensible up sell price and see if it converts and then you will know
      Cheers
      mark
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  • Profile picture of the author eClicker
    I would agree video is the way to go. Because people learn in different ways. I would watch a video at home yet when I am on the go I could load an mp3 into the player and learn in the car. I personally don't like or need ebooks but read them on my phone when the need dictates.
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  • Profile picture of the author svedski
    Thanks!

    I guess there is no downside then? Because truthfully, it's not that hard to make a video. Takes a day or two.

    What would you recommend then...lets say I sell the whole package (including video) for 200 dollars, and just the audio/text for 100. Should I sell the whole package as my main product and then downsell to 100 (if they try to exit my salespage)...or should I sell it for 100 and then upsell on the way to the checkout?

    I'm leaning towards the first option.
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    • Profile picture of the author harrydog
      Originally Posted by stolpioni View Post

      Thanks!

      I guess there is no downside then? Because truthfully, it's not that hard to make a video. Takes a day or two.

      What would you recommend then...lets say I sell the whole package (including video) for 200 dollars, and just the audio/text for 100. Should I sell the whole package as my main product and then downsell to 100 (if they try to exit my salespage)...or should I sell it for 100 and then upsell on the way to the checkout?

      I'm leaning towards the first option.
      Am I missing something here? You say it only takes a couple of days to make a video - so are you saying there would only be one video as part of the upsell? I would have thought that for the prices you are talking about there would be a whole series of training videos. Most of the very good products out there selling for between $49 and $97 have multiple training videos in membership sites.
      I think if you are talking about an e book and a single video it may be overpriced? Just my opinion as I know nothing about your product.
      Cheers
      Mark
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      • Profile picture of the author svedski
        Originally Posted by harrydog View Post

        Am I missing something here? You say it only takes a couple of days to make a video - so are you saying there would only be one video as part of the upsell? I would have thought that for the prices you are talking about there would be a whole series of training videos. Most of the very good products out there selling for between $49 and $97 have multiple training videos in membership sites.
        I think if you are talking about an e book and a single video it may be overpriced? Just my opinion as I know nothing about your product.
        Cheers
        Mark
        No of course I'll make several videos. But since I already have the material, it'll be quick to record. Also..I can add a few stuff and explain some stuff more thoroughly..but I'll just improvise.
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    • Profile picture of the author bwh1
      Originally Posted by stolpioni View Post

      Thanks!

      I guess there is no downside then? Because truthfully, it's not that hard to make a video. Takes a day or two.

      What would you recommend then...lets say I sell the whole package (including video) for 200 dollars, and just the audio/text for 100. Should I sell the whole package as my main product and then downsell to 100 (if they try to exit my salespage)...or should I sell it for 100 and then upsell on the way to the checkout?

      I'm leaning towards the first option.
      I have to agree with Mark here.

      A price level of 100 - 200 bucks needs a DAMN good product and one quick fix video in PP just repeating the ebook won't cut it.

      The video has to deliver MORE material, value or your refund rate will shoot through the roof.

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